20, Hongyuan Green Energy disclosed its annual performance forecast for 2025. The company expects a net profit of 180-250 million yuan in 2025 and a loss of 2.7 billion yuan in 2024, turning losses into profits; It is estimated that the attributable net profit after deduction will be-250 million yuan to-310 million yuan in 2025.
According to the data released by the company in the third quarter of 2025, the net profit attributable to shareholders of listed companies in the first three quarters was 235 million yuan, which was between loss and profit in the fourth quarter of 2025. After deducting recurring gains and losses, it is in a loss state, amounting to about 400 million yuan, which also means that its net profit has declined considerably compared with the third quarter.
As for the reasons for the fluctuation of performance, Hongyuan Green Energy said that the contradiction between the periodic overcapacity of photovoltaic industry and the mismatch between supply and demand persisted in 2025, and the price of products in all sectors of the industrial chain continued to be under pressure, especially the price of silver paste rose sharply in the fourth quarter . As a result, the production cost of some products of the company has increased, and the operating pressure has increased. In addition, the company's provision for impairment of some long-term assets has a certain impact on the current performance. During the
reporting period, the company relied on the vertical integration of industrial chain layout, through the internal synergy of silicon materials , silicon wafers, batteries and components , effectively reduced the impact of price fluctuations in the main industrial chain. The company's operating performance in 2025 has been greatly improved compared with 2024, and the company's financial health, asset-liability ratio has been maintained below 60% for a long time, with a good ability to resist risks.
In addition, during the reporting period, the company transferred part of the equity of Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd., which will increase the total consolidated profit of the company in 2025 by about 291 million yuan, which is estimated to be the key to turning losses into profits before deducting non-profits.
According to the previous announcement, the company intends to transfer its 27.0737% stake in Inner Mongolia Xinyuan to Jiangsu Zhongneng Silicon Technology Development Co., Ltd. After the completion of this transaction, it will no longer hold the equity of Inner Mongolia Xinyuan.
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