On February 26, Laplace (SH: 688726) released its 2025 performance report, showing the company achieved operating revenue of 5.459 billion yuan, a year-on-year decrease of 4.69%. Net profit attributable to shareholders was 612 million yuan, a year-on-year decrease of 16.07%. Core net profit after deducting non-recurring gains and losses was 494 million yuan, a year-on-year decrease of 18.45%. Basic earnings per share were 1.51 yuan/share, compared to 1.96 yuan/share in the same period last year. The above financial data are preliminary calculations and have not been audited by an accounting firm.
The announcement indicated that in 2025, Laplace steadily progressed with product delivery and acceptance at client sites. However, against the backdrop of periodic supply-demand imbalances in the photovoltaic industry chain, the company’s revenue and profits experienced temporary pressure. Concurrently, market demand remained strong for advanced production capacity with technological competitiveness, technology upgrades for existing production lines, and overseas expansion. Laplace continued to actively promote technological iteration and innovation, persistently enhancing the market competitiveness of its products in the TOPCon, XBC, perovskite, and tandem cell fields. By continuously optimizing and iterating its products, the company assists customers in reducing costs and improving efficiency, and persistently advances research and application in areas such as magnetron sputtering physical vapor deposition platforms, Atomic Layer Edge Passivation Deposition (EPD) equipment, core vacuum process equipment for perovskite, laser equipment, and novel metallization equipment. In the semiconductor equipment sector, Laplace is actively developing equipment required for the discrete device and integrated circuit fields, striving to achieve breakthroughs in the integrated circuit domain. Consequently, R&D expenses during the reporting period increased compared to the same period last year.
Furthermore, in accordance with the “Accounting Standards for Business Enterprises” and the company’s accounting policies, accounting estimates, and other relevant regulations, Laplace comprehensively considered factors such as industry market changes and the operating conditions of downstream customers. Based on the principle of prudence, the company made corresponding provisions for impairment.
