Lost 13 years of net profit in one year! Photovoltaic Leader Suddenly Enters Wind Power

On June 5, Aixu announced that the company intends to sign the Agreement on Resource Development of Wind Power Projects in Central Linyi County (hereinafter referred to as the "Development Agreement") with the People's Government of Linyi County, Dezhou City, Shandong Province, with a total investment of about 750 million yuan . Invest in Linyi County to build Linyi 112.

for the construction of the project, Aixu shares said." It is based on the company's strategic development needs and the judgment of the industry's market prospects, and is also the company's exploration of the mode of coordinated development of new energy power generation cluster resources around Jinan ABC production base and Shandong Province.

At the same time, Aixu shares said that it has always regarded the N-type ABC business as the focus of the company's development strategy. After the implementation of the project is completed and the relevant agreements are met, The company can choose to operate on its own or sell the project . Introduce partners and dispose of them by issuing various financing instruments .

Good that in addition to the answer of" model exploration "given by Aixu shares in the announcement, there may be some answers hidden in its performance data.

According to the annual report

of Aixu in 2024, the company lost 5.319 billion yuan in net profit last year. Compared with the top three leading companies (TCL Zhonghuan, Longji Green Energy, Tongwei Stock), the loss of Aixu Stock seems to be less tragic, but it can not be ignored that the company's operating income is much less than three leading companies mentioned above.

In 2024, Aixu achieved revenue 111.

Top 10 Photovoltaic Leaders in 2024 Performance Ranking Table Unit: 100 million yuan

For Aixu itself, Its loss in 2024 has also far exceeded its net profit in the 13 years from 2011 (inclusive) to 2023 (inclusive) (43).

However, the momentum of loss seems to be spreading.According to the first quarter results of 2025 released by Aixu, the company has lost 300 million yuan in the first quarter of this year alone, and the loss has expanded year-on-year. Under the

huge loss, the financial situation of Aixu shares is not optimistic.

As of the first quarter of 2025, the total liabilities of Aixu shares amounted to 29.82 billion yuan, and the asset-liability ratio reached 85.2025 .

Non-current liabilities due within one year amount to 38.

This means that the money in the hands of Aixu shares is not enough to repay the non-current liabilities due within one year.

In addition, as of March 31, 2025, the notes receivable and accounts receivable of Aixu shares totaled 13.

It can be seen that the current financial pressure of Aixu shares has been enormous. There is another "sword"

hanging over the head of Aixu shares-the project under construction.

According to the annual report of Aixu in 2024, At present, the company has six projects under construction. Except Chuzhou Efficient "

But as a result, the company became one of the early losers in the industry.

Moreover, according to Aixu's 2024 annual report, the company's shipments and revenue still rely mainly on PERC batteries . ABC components shipped only 6.

According to Digital New Energy DataBM.

Just when BC technology was hot, Aixu shares, the supporter of the technology, suddenly opened a large-scale layout of TOPCon production capacity. According to Digital New Energy DataBM,

the behavior of Aixu shares has also aroused market doubts about its ABC products-after all, if ABC products are good enough, how can Aixu shares lay out TOPCon in the case of serious homogenization?

However, at the same time, BC technology and TOPCon technology are fighting on two fronts, and the pressure of Aixu shares can be imagined.