Cybrid Technologies reports Q2 revenue slump amid mixed performance

Cybrid Technologies reported an 18.13% decline in Q2 2025 operating revenue to 1.35 billion yuan, with net profit attributable to shareholders at -72.10 million yuan. The company's solar encapsulation film sales saw a 33.06% increase in volume but a 7.67% decrease in revenue, driven by a 28.66% reduction in average selling price. Solar backsheet sales declined 79.36%, impacted by lower demand and reduced average selling prices for universal backsheets. Conversely, non-solar businesses, including materials for lithium batteries, new energy vehicles, and semiconductors, demonstrated sustained growth, with their contribution to overall revenue rising to 24.35%.

Strategic adjustments include technical upgrades to production lines to reduce costs for solar backsheets, increased focus on differentiated products, and continued expansion in international markets. This includes the full operation of its 5GW encapsulation film production line in Vietnam and the trial production of a 2,500 square meter backsheet coating line, highlighting efforts to diversify revenue streams and mitigate sector-specific risks.