IRICO NEWENERGY announced its interim results, with a net loss attributable to shareholders of the parent company of approximately 296 million yuan, turning from profit to loss year-on-year
IRICO NEWENERGY announced its mid-term performance for 2025, with operating revenue of approximately 1.519 billion yuan, a year-on-year decrease of 25.52%; the net loss attributable to shareholders of the parent company was approximately 296 million yuan, turning from profit to loss year-on-year, with a basic loss per share of 1.6770 yuan. The loss was mainly due to the supply-demand imbalance in the photovoltaic glass industry and a significant decline in product prices, leading to a substantial drop in gross profit margin. The company is actively working on cost reduction, efficiency enhancement, and technological innovation
According to the Zhitong Finance APP, IRICO NEWENERGY (00438) announced its mid-term results for 2025, with operating revenue of approximately 1.519 billion yuan, a year-on-year decrease of 25.52%; the net loss attributable to shareholders of the parent company was approximately 296 million yuan, turning from profit to loss year-on-year; the basic loss per share was 1.6770 yuan.
The announcement stated that the main business revenue decreased by 25.56% year-on-year, mainly due to: a phase imbalance in supply and demand for photovoltaic glass production capacity, leading to a significant decline in product prices year-on-year.
The main reasons for the loss: affected by supply and demand contradictions and capacity mismatches, competition in the photovoltaic glass industry has intensified. The group is fully committed to cost reduction and efficiency enhancement, accelerating technological innovation and the research and mass production of high value-added products. However, the continuous decline in product prices has led to a significant drop in the gross profit margin of the group's photovoltaic glass business; in light of the current industry situation and product price fluctuations, an asset impairment provision has been made for photovoltaic glass products in accordance with the "Enterprise Accounting Standards."
