Triumph New Energy Co., Ltd. (01108) has unveiled its interim results for fiscal year 2026, revealing a significant deterioration in financial performance amid persistent market headwinds.

During the reporting period, the group generated revenue of RMB 1.184 billion, marking a sharp 29.27% decline compared to the prior year. The net loss attributable to shareholders of the company widened dramatically to RMB 838 million, an 86.75% expansion from the previous corresponding period, translating to a basic loss per share of RMB 1.3.

The company's core operations center on the research, development, production, and sales of new energy materials. Its primary product lineup includes front-sheet glass for solar photovoltaic modules, specifically ultra-clear patterned glass, as well as backsheet glass for bifacial PV modules, all serving as encapsulation materials for solar power generation equipment.

At present, the group has strategically established eight intelligent photovoltaic glass manufacturing hubs spanning East China, Central China, North China, and the Southwest region, with operations located across eight cities in six provinces, namely Henan, Anhui, Jiangsu, Hebei, Sichuan, and Fujian.

Confronting the industry's downward cycle and a multitude of operational challenges, the company remains anchored to its long-term development strategy, demonstrating resilience and determination in tackling difficulties head-on. Management has prioritized loss reduction and control as key objectives, maintaining a firm commitment to cash flow security while intensifying efforts on its "three major strategic initiatives." Nevertheless, due to persistently depressed market pricing, the company has been unable to emerge from its loss-making predicament.

Looking ahead, the group acknowledges that the prevailing market conditions continue to exert substantial pressure on profitability, and the path to recovery remains contingent upon a stabilization in industry pricing dynamics.