Tianyang New Materials (Shanghai) Technology (603330.SH) has announced a forecasted net loss of between 160 million to 220 million yuan for the fiscal year 2024.

Tianyang New Materials (Shanghai) Technology (603330.SH) announced that the net profit attributable to shareholders of the listed company for the year 2024 is expected to be a loss of 160 million to 220 million yuan, compared to a net profit of -94.2087 million yuan for the same period last year. During the reporting period, the photovoltaic industry continued to stabilize, with photovoltaic module prices remaining low. The unwillingness of module factories to start production led to mismatched supply and demand for photovoltaic encapsulation films, intensifying industry competition and reducing the net profit of the company's photovoltaic business sector.