HK Stock Market Move | Triumph New Energy (01108) falls more than 3%, expected net loss to expand to 290 million yuan by 2025.

Triumph New Energy (01108) fell by more than 3%, dropping to 3.7 Hong Kong dollars, with a decrease of 3.14% as of press time, with a total turnover of 13.1761 million Hong Kong dollars. On the news front, Triumph New Energy announced that, based on preliminary calculations by the company's finance department, it is expected that the net loss attributable to the company's shareholders for the financial year 2025 will increase by RMB 90.07 million to 290 million compared to the previous year; the net loss excluding non-recurring gains and losses will increase by approximately RMB 160 million to 360 million compared to the previous year. The net loss attributable to the company's shareholders for 2024 is approximately RMB 610 million, and the net loss excluding non-recurring gains and losses is approximately RMB 642 million. The announcement pointed out that the main reasons for the operating performance loss during this reporting period were: first, the continuous pressure on supply and demand of photovoltaic glass during the reporting period, leading to a further decline in the gross margin of the company's photovoltaic glass. Second, based on the principle of prudence, the company made provisions for impairment of assets where there were signs of impairment.