Triumph New Energy (01108) announced its annual performance with a net loss of 914 million yuan, a year-on-year increase of 49.91%.

Triumph New Energy (01108) announced its annual performance for the year ending on December 31, 2025. The group achieved operating income of 3.244 billion yuan, a decrease of 29.4% year-on-year; the net loss attributable to the company's shareholders was 914 million yuan, an increase of 49.91% year-on-year; with a basic loss per share of 1.42 yuan. The announcement stated that in terms of production capacity optimization, as of the end of this reporting period, the production capacity of photovoltaic glass in production was 6100t/d, with the production capacity of 1200t/d kilns accounting for nearly 80% of the total, further optimizing the production capacity layout and production line structure. During this reporting period, the company continued to firmly promote the strategy of stopping small construction and expanding large-scale construction, increasing the proportion of large-tonnage production capacity, improving production efficiency, and reducing unit manufacturing costs. The company completed the acquisition of a 74.60% equity stake in Jiangsu Shandong Kaisheng New Materials Co., Ltd. (Jiangsu Kaisheng), promoting the first phase of the 1.5 million ton production capacity for photovoltaic module ultra-thin encapsulation materials project at Jiangsu Kaisheng, and the first 1200t/d ultra-thin rolling photovoltaic glass production line was successfully put into operation. Filling the blank layout in the North China region, the 1200t/d ultra-thin rolling photovoltaic glass production line of Qinhuangdao Northern Glass Co., Ltd. (Northern Glass) was ignited and put into production in April 2025. At the same time, high standards are being planned for the next generation of large-tonnage photovoltaic glass production lines. The preliminary project approval, registration, verification, and approval procedures for the 2000t/d photovoltaic module ultra-thin encapsulation material project of Kaisheng (Zigong) New Energy Co., Ltd. (Zigong New Energy) have been completed. After the completion of this project, it is expected to further enhance the company's competitive advantage in terms of technology, production line scale, product variety, and actively and effectively respond to challenges.