Core Viewpoint - Company has significantly increased its overseas sales proportion from 23.9% in 2024 to 52.0% in the first half of 2025, demonstrating the effectiveness of its global strategy despite challenges in the photovoltaic industry [1][3]. Financial Performance - For the six months ending June 30, 2025, the company reported revenue of RMB 3.66 billion and a gross profit of RMB 900,000, indicating recovery compared to the same period last year [1]. - The company faces pressure on overall profitability due to domestic electricity price adjustments and overseas trade barriers, despite a gradual recovery in the photovoltaic industry chain prices [1]. Market Trends - The global photovoltaic market is experiencing strong demand, with the European Photovoltaic Industry Association predicting global installations could reach 655 GW in a neutral scenario and up to 774 GW in a high scenario by 2025 [2]. - Emerging markets in the Middle East, Africa, and India are developing rapidly, contributing to the growth of the photovoltaic industry [2]. Technological Advancements - The company has achieved a 0.2% increase in average production conversion efficiency and a 20% reduction in non-silicon costs through N-type battery technology optimization [1][4]. - The company is also advancing in new technologies, with a lab efficiency of 32.08% for perovskite tandem batteries, positioning itself at the forefront of the industry [4]. Strategic Initiatives - The company has signed a strategic cooperation agreement with a local Turkish component customer to establish a high-efficiency battery project, addressing regional capacity gaps [3]. - The company is evaluating the feasibility of a planned 5 GW high-efficiency battery production base in Oman, considering international trade and tariff policies [3]. Future Outlook - The company aims to continue focusing on N-type and next-generation high-efficiency battery technologies while accelerating overseas capacity deployment [5]. - The company is committed to driving technological innovation and contributing to global energy transition efforts, aligning with carbon neutrality goals [5].

Group 1: Company Overview - JunDa Co. is the world's first manufacturer to achieve large-scale production of N-type batteries, with a planned capacity of 44GW by the end of 2024, and over 90% of its shipments will be N-type products [1] - The N-type high-efficiency battery has a conversion efficiency exceeding 26.3%, significantly higher than the traditional PERC's 21%, and features advantages such as low light degradation and high bifaciality [1] - In 2024, JunDa is expected to lead global shipments of N-type batteries among professional manufacturers, holding a 17.9% share of the photovoltaic battery market, ranking among the top two globally [1] Group 2: Financial Performance and Strategy - Despite facing a loss of 591 million yuan in 2024 due to industry price wars, the company managed to significantly reduce losses in Q4 by 50% compared to Q3, indicating effective cost control and contributions from high-margin overseas orders [2] - The company successfully listed on the Hong Kong Stock Exchange in May 2025, becoming the first "A+H" stock in the photovoltaic industry, raising 1.405 billion HKD for overseas expansion [2] - The overseas sales ratio is projected to rise to 58% in Q1 2025, up from just 4.7% in 2023, as the company shifts from product export to capacity expansion abroad [2] Group 3: Technological Advancements and Collaborations - JunDa is collaborating with top institutions like the University of New South Wales to develop perovskite tandem batteries, achieving a laboratory efficiency of over 31%, laying a solid foundation for future technological competition [1] - The company plans to establish a 5GW N-type high-efficiency photovoltaic battery production base in Turkey under the HIT30 project, leveraging its advanced technology to meet the urgent demand for high-performance batteries in Turkey and other global markets [3] - The planned Oman base will benefit from tax exemptions, allowing direct supply to leading component manufacturers in the U.S., with a single watt price significantly higher than in other markets [3]