Core Viewpoint - Aiko's performance in the photovoltaic industry is highlighted by its ability to achieve profitability in Q2 2025, marking it as the first silicon photovoltaic company to report a single profitable quarter amidst a challenging market environment [1][2]. Group 1: Company Performance - Aiko expects a net profit of -170 million to -280 million CNY for H1 2025, but achieved a profit of 20 million to 130 million CNY in Q2 2025, indicating a successful turnaround [1]. - The company's strategy focuses on technological innovation to enhance product competitiveness, particularly through its copper interconnection technology [1][2]. Group 2: Industry Challenges - The photovoltaic industry faces a paradox of being a green energy sector while being heavily reliant on silver, which has limited availability and increasing prices [2][5]. - China's photovoltaic industry has a significant silver consumption gap, with demand expected to rise sharply, leading to potential supply crises [5][6]. Group 3: Technological Breakthroughs - Aiko has pioneered the mass production of silver-free ABC cells, overcoming significant technical challenges associated with using copper instead of silver [7][10]. - The company has developed advanced techniques to ensure the stability and reliability of copper interconnections under extreme environmental conditions, which is crucial for long-term performance [12][13]. Group 4: Market Implications - The increasing reliance on copper interconnection technology positions Aiko as a leader in the industry, providing a sustainable alternative to silver and addressing supply chain vulnerabilities [6][9]. - Aiko's copper interconnection technology has demonstrated superior performance in terms of resilience to damage and efficiency in energy generation compared to traditional silver-based technologies [20][22].