Down 49.05%! The first brother of photovoltaic film is expected to have a net profit of 470 million yuan in the first half of the year.

9, Foster issued a performance pre-reduction announcement for the first half of 2025. The company expects that the net profit attributable to the owner of the parent company in the first half of 2025 will be 473.0916 million yuan, a decrease of 455.3586 million yuan compared with the same period last year, a decrease of 49.05% compared with the same period last year.

It is estimated that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses in the first half of 2025 will be RMB425.7663 million, representing a decrease of RMB473.3851 million or 52.65% as compared with the same period of last year. The main reasons for the estimated decrease in the results for the

current period were as follows:

1. Affected by the overcapacity of the photovoltaic industry and the intensified market competition, compared with the same period last year, Both the purchase unit price of raw material photovoltaic resin and the sales unit price of photovoltaic film products of the Company decreased, and the decrease in the sales unit price of photovoltaic film products was greater than decrease in the purchase unit price of raw material photovoltaic resin, resulting in a decrease in the scale of operating revenue and comprehensive gross profit margin of the Company during the period, with a year-on-year decrease of 46.72% in gross profit.

2. The company firmly implements the development strategy of "basing on the main photovoltaic industry and vigorously developing other new material industries". During the reporting period, although the company's new business of electronic materials is profitable, other new businesses such as special films and investment in upstream raw materials such as POE resin are losing money. It is estimated that the net profit for the period will be reduced by RMB62,262,900. During the

reporting period, the operating income and net profit of the Company decreased as compared with the same period last year due to the price decline in the photovoltaic industry chain, but the comprehensive competitive advantage of the Company's photovoltaic film products was still in the lead: the overseas production capacity of the Company's photovoltaic film was further expanded. The Company will benefit from the rapid growth of overseas emerging markets in the future. As a full-category photovoltaic packaging material supplier, the Company will continue to provide the best cost-effective packaging material solutions for the efficiency improvement of TOPCon technology components and the large-scale release of BC technology components.