20, two photovoltaic listed companies disclosed their semi-annual reports for 2025, namely Hengdian Dongci and Xingshuaier. Details are as follows:
Hengdian Dongci: Net profit exceeded 1 billion, an increase of 58.94%
over the same period last year. The report shows that Hengdian Dongci achieved revenue of 11.94 billion yuan in the first half of 2025, an increase of 24.75% over the same period last year; The net profit returned to the mother was 1.02 billion yuan , an increase of 58.94% over the same period last year.
As for the reasons for the performance changes, Hengdian Dongci said that the company continued to increase market expansion efforts, the development of new products and new fields, the effective release of superimposed advanced production capacity, and through strict cost control and other measures, further enhanced the competitiveness of products, and the profits of each sector increased year on year. During the
reporting period, Hengdian East Magnetic Photovoltaic Products realized revenue of 8.05 billion yuan , accounting for 67.47% of the total revenue in the first half of the year, an increase of 36.58% over the same period last year of 5.9 billion yuan; The gross profit margin of photovoltaic products was 16.7%, an increase of 5.29% over the same period last year.
Xingshuaier: Net profit of 120 million yuan, an increase of 31.79%
over the same period last year. The report shows that Xingshuaier achieved revenue of 1.13 billion yuan in the first half of 2025, an increase of 8.59% over the same period last year; The net return to the mother was 120 million yuan , an increase of 31.79% over the same period last year. During the
reporting period, Xingshuaier photovoltaic products (solar photovoltaic modules ) realized revenue of 550 million yuan , accounting for 48.44% of the total revenue in the first half of the year. Compared with the same period last year, revenue increased by 14.74% to 480 million yuan, and gross profit margin of photovoltaic products was 5.92% .
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