Core Viewpoint - The company, Aerospace Electromechanical (600151), anticipates a significant net loss for the first half of 2025, primarily due to intensified competition in the photovoltaic industry and adverse regulatory changes [1] Financial Performance - The company expects a net loss attributable to shareholders of between 185 million to 265 million yuan for the first half of 2025 [1] - After excluding non-recurring gains and losses, the expected net loss attributable to shareholders is projected to be between 205 million to 285 million yuan [1] - In the same period last year, the company reported a net loss of 32.87 million yuan attributable to shareholders, with a net loss of 83.48 million yuan after excluding non-recurring items [1] Industry Context - The anticipated performance decline is attributed to increased "involution" competition within the photovoltaic sector, adjustments in electricity pricing mechanisms, and the impact of power rationing policies [1] - These factors have led to a deterioration in the overall operating environment and a decrease in business profitability [1] - The company has also made provisions for asset impairment in response to the challenging market conditions [1]