HIUV’s H1 2025 revenues plunge 57.47% YoY
PV encapsulation material manufacturer HIUV recorded a sharp 57.47% YoY drop in revenues to RMB 633 million ($88.80 million) in H1 2025. The company reported a net loss, excluding non-recurring gains and losses, totaling RMB 134.88 million ($18.92 million), a slight improvement from the same period last year. HIUV attributed the decline in revenues to falling product prices and lower sales volumes. The company said that despite the challenging market environment, it continues to invest in innovation and launched new products in H1 2025, including zero-migration light-conversion films, new PVE films and colored films for BIPV applications.
Earlier, in July, HIUV cancelled Phase I of its 200 million m2 PV encapsulation film facility in Pinghu, Zhejiang Province, citing weakened downstream demand and an oversupplied encapsulant market (see China Solar PV News Snippets).
