On April 2, 2026, TCL Zhonghuan Renewable Energy Technology Co., Ltd. (002129) held its 2025 online performance briefing on Quanjing Roadshow. In response to investor inquiries regarding photovoltaic wafer market share and competitive landscape, the company's Board Secretary Li Lina provided comments. Li Lina stated that despite persistent supply-demand imbalances across the solar industry, clear characteristics of a cyclical bottom, rising raw material costs in the upstream supply chain, and low adjusted prices with poor price transmission for downstream products putting continuous pressure on operations, TCL Zhonghuan has maintained its position as the industry leader in photovoltaic wafer market share. Confronted with challenges from capacity pressure by leading enterprises and intensified market competition, the company adheres to a rational development strategy, producing according to demand to help restore supply-demand balance. Simultaneously, TCL Zhonghuan is advancing its moderate integration and globalization strategy, strengthening the foundation of its photovoltaic materials business. Through organic growth combined with strategic acquisitions, it aims to enhance the competitiveness of its cell and module products. Furthermore, the company is committed to achieving optimal cost efficiency by optimizing its supply chain, product mix, and customer structure, striving to improve operational efficiency and profitability as soon as possible. TCL Zhonghuan expressed its intention to continue focusing on stable operations, actively responding to industry cyclical fluctuations, and consolidating its leading position in the global photovoltaic materials sector.
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