According to the Zhitong Finance APP, Triumph New Energy (01108) released its interim results for the six months ending June 30, 2025. The group achieved operating revenue of 1.673 billion yuan, a year-on-year decrease of 43.82%; the net loss attributable to shareholders of the company was 449 million yuan, a year-on-year increase of 719.59%; basic loss per share was 0.7 yuan.

In the first half of 2025, the company actively responded to multiple challenges such as insufficient effective market demand, cyclical and phase excess, and intensified industry competition. It made phased progress in production line optimization and operational management. However, due to the continuous intensification of cutthroat competition and a significant decline in market prices, the profit margin of the company's main business was severely compressed. During the reporting period, the company's operating revenue was 1.673 billion yuan, a year-on-year decrease of 43.8%; the net loss attributable to shareholders of the company was 449 million yuan, with losses further expanding. As of the end of the reporting period, the company's total assets were 13.631 billion yuan, an increase of 10.8% compared to the end of the previous year; the net assets attributable to shareholders of the company were 3.568 billion yuan, a decrease of 11.2% compared to the end of the previous year.

In terms of production line optimization, the company firmly implemented the strategy of stopping small-scale production and building larger capacities, gradually phasing out small-tonnage old kilns, increasing the proportion of large-tonnage capacity, improving production efficiency, and reducing unit manufacturing costs. During the reporting period, the company completed the acquisition of 74.60% equity in Jiangsu Triumph New Materials Co., Ltd. (Jiangsu Triumph) through capital increase. The first phase project of Jiangsu Triumph, which produces 1.5 million tons of ultra-thin packaging materials for photovoltaic modules, successfully put into operation its first 1200t/d ultra-thin rolled photovoltaic glass production line. The 1200t/d ultra-thin rolled photovoltaic glass production line of Qinhuangdao Northern Glass Co., Ltd. (Northern Glass) was ignited and put into production, achieving production and sales in the same month.

As of the end of the reporting period, the proportion of large-tonnage capacity reached approximately 70%. At the same time, the company is planning a new generation of large-tonnage photovoltaic glass production lines to high standards. The 2000t/d photovoltaic module ultra-thin packaging materials project of Triumph (Zigong) New Energy Co., Ltd. (Zigong New Energy) has basically completed the preliminary project establishment, filing, verification, and approval procedures, with plans to start construction in the second half of the year. Once completed, this project is expected to further enhance the company's competitive advantages in terms of process technology, production line scale, and product variety, actively and effectively responding to current challenges