TRIUMPH NEW EN (01108) issued a profit warning, projecting a net loss attributable to shareholders between RMB435 million and RMB462 million for the first half of 2025. This represents a significant deterioration compared to the same period last year, when the company recorded a net loss of RMB54.78 million. The projected loss expansion ranges from RMB380 million to RMB407 million year-over-year.

Simultaneously, the company expects its adjusted net loss excluding non-recurring items to land between RMB456 million and RMB472 million for the six-month period. This forecast starkly contrasts with the prior year's comparable loss of RMB65.55 million, indicating an anticipated widening of RMB390 million to RMB406 million.

Persistent oversupply conditions in the photovoltaic glass market, extending from 2024 trends, drove this downturn. Market prices plummeted year-on-year, compressing the company's gross margins for photovoltaic glass products. The sustained supply-demand imbalance continues to pressure profitability across the sector.