TCL Zhonghuan Releases Semi-annual Report: Business Improvement Achieved Remarkable Results in the First Half of the Year

On August 22, TCL Zhonghuan released the Semi-annual Report 2025. The announcement shows that in the first half of 2025, the company realized operating income of 13.398 billion yuan and net profit loss of 4.836 billion yuan; Net operating cash flow was 523 million yuan, up 308 from the same period last year. At present, the company's operating income has increased for two consecutive quarters, and its net profit has improved 36

compared with the second half of 24 years. In the first half of 2025, during the global " reporting period, the operating performance of the company's photovoltaic materials business suffered losses due to the decline in product prices and inventory impairment; The product structure of battery component business has been improved , the quality, brand, market and other capabilities have been improved , and the company's high-efficiency component shipments have been improved year-on-year and ring-on-ring. Loss per watt narrowed .

photovoltaic material plate, TCL Zhonghuan continued to promote technology and process improvement, further strengthen cost control capabilities, and improve business performance. During the reporting period, through the optimization of material structure, the promotion of thin line, supply chain management and technological innovation, the company achieved a single furnace cost reduction of more than 20% , and a single tile cost reduction of 40% year on year . In

the battery component sector, TCL Zhonghuan continued to make up for the shortcomings of products, quality, brand and market, completed the half-piece and BC technology capacity system , and expanded the product matrix to multiple sequences such as lamination, half-piece and BC ; At the same time, by strengthening quality control, expanding domestic and overseas market channels and improving marketing capabilities, in the first half of the year, TCL and China General Nuclear New Energy Holding Co., Ltd. announced a comprehensive strategic cooperation on 18 https://www.databm.8. Further accelerate the large-scale application of TCL Zhonghuan's advanced products in large-scale new energy projects.

TCL Zhonghuan said that the company will continue to complement BC technology engineering research and development and mass production capacity, strengthen BC patent cooperation , and build BC ecology with industry partners. Since

2025, the Ministry of Industry and Information Technology and other departments have repeatedly made efforts to control

On August 19, the joint deployment of six departments around photovoltaic anti-involution also injected new momentum into the industrial chain for further price increases. With the promotion of industry self-discipline and the implementation of anti-involution measures, the supply and demand of the industry is expected to improve, which will further drive the price and profit restoration of the industrial chain. According to the bid opening of Huadian Group's 2025- 2026 centralized procurement of 20GW PV modules on August 22, the average bidding prices of the first and second bid sections reached 0.71 yuan/W and 0.71 yuan/W respectively.

Looking ahead to the second half of 2025, TCL Central said that the company will adjust its operation strategy in time with market changes, achieve extreme cost reduction, focus on customers to enhance customer stickiness and market share, and continue to strengthen relative competitiveness. And strive to achieve breakthroughs in key technical capabilities such as BC batteries , ensure financial health and achieve sustainable operation. In addition, in the process of restructuring the industry structure, the company will pay attention to the opportunities of mergers and reorganizations in the industry, and strive to strengthen the company's business shortcomings through mergers and acquisitions.

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