XY ELEC STORAGE issues profit warning, expecting a significant decrease in net profit of 60% to 80% year-on-year for the first half of the year

XY ELEC STORAGE issued a profit warning, expecting that net profit in the first half of 2025 will decrease significantly by 60% to 80% year-on-year, with net profit expected to drop to approximately HKD 4.92 million. The reasons for the decrease include lower selling prices in the Chinese market and a reduction in installation volume in the Canadian market, leading to a decline in revenue and gross profit related to photovoltaic power stations. In addition, the oversupply of photovoltaic film products has led to lower selling prices, affecting revenue and gross profit. The company has adopted a more cautious sales strategy, strictly controlling the scale of orders