JYT anticipates incurring a net loss ranging from 165 million to 225 million yuan in the first half of 2025. This projection stems from the cyclical downturn in the photovoltaic industry, which has adversely affected the performance of the company's equity-participating enterprises, leading to investment losses. Additionally, the silicon wafer segment within the new material business continues to operate at a loss, further eroding the company's overall profitability.