JA Solar announced that its operating revenue in the first half of 2025 was 23.905 billion yuan, a year-on-year decrease of 36.01%. Its net profit loss was 2.58 billion yuan, compared to a net profit loss of 874 million yuan in the same period last year. During the reporting period, the company continued to deepen its market expansion, accelerate its international layout, and, relying on its technological advantages, maintained its industry-leading position in battery module shipments. However, due to the impact of the temporary supply and demand imbalance caused by the concentrated release of production capacity in various links of the main photovoltaic industry chain in recent years, industry competition has continued to intensify, and the prices of major products in various links have been under overall downward pressure compared with the same period. At the same time, the intensification of international trade protection policies has led to a year-on-year decline in the company's average module sales price and profitability, resulting in a temporary loss in operating performance.