Profit turns into loss! The 15GW project has already stopped production! A cross-border photovoltaic enterprise issued a performance revision announcement.

On January 20, Binhai Energy issued a revised announcement of its annual performance forecast for 2025, which revised the basic earnings per share from 0.3106-0.4411 yuan to 0.3106-0.4411 yuan.

For this revision, Binhai Energy explained in the announcement that the proofreading of the financial data was not rigorous when the staff transcribed it into the announcement compilation system. As a result, the basic earnings per share data in the previous performance forecast was wrong.

According to the 2025 annual performance forecast, the net profit of Binhai Energy is expected to lose 69 million yuan to 98 million yuan during the reporting period. Compared with the same period

last year , Binhai Energy said in the announcement that the overall production capacity of the company's anode materials is still small, not yet fully released, the depreciation of fixed assets and labor costs are relatively high, and the prices of raw materials such as upstream petroleum coke and calcined coke are rising.

At the same time, the time for the Company to fully enter the new energy anode materials industry is still short, the production line construction and initial working capital mainly come from liabilities, and the financial costs during the reporting period are relatively high;

In addition, during the reporting period, the construction project of crystalline silicon photovoltaic business of Baotou subsidiary of Binhai Energy was not promoted . Provision for impairment shall be made for the relevant construction in progress.

It is understood that Binhai Energy announced in October 2023 that its subsidiary Baotou Xuyang New Energy Technology Co., Ltd. It plans to build solar cells and " in its jurisdiction. Company Sun Company Baotou Xuyang

the project is about 20.4 billion yuan . It is planned to build 150,000 tons of industrial silicon, 120,000 tons of polycrystalline silicon, 40 GW monocrystalline silicon pulling, 40 GW monocrystalline silicon slicing and other ancillary facilities.

(Related reading Company disclosed that its subsidiary, Baotou Xuyang New Energy, intends to invest in 5G W solar photovoltaic cell project." Sun Company Baotou Xuyang Silicon Material plans to build 10GW crystal pulling project, which is located in Baotou Rare Earth High-tech Industrial Development Zone, Baotou City, Inner Mongolia, and Tumote Right Banner New Industrial Park. At that time, the preliminary procedures such as filing and environmental assessment have been completed, and land preparation will be completed one after another. It is estimated that the total investment will be about 39.

However, in the annual report of 2024 and the interim report of 2025, Binhai Energy did not disclose the construction of the above projects in the "Current Changes of Important Construction Projects under Construction"; Only in the "Related Entrusted Management/Contracting and Entrusted Management/Outsourcing", it shows that the project under construction of Baotou Xuyang Silicon Material has been terminated on September 30, 2024 , and the rest does not disclose more information about the above projects.