Cybrid Technologies Inc. (Shanghai Stock Code: 603212) has released its Q3 2025 report, showcasing significant momentum across its diversified non-PV business lines and reinforcing the success of its platform-based growth strategy.
Non-PV Business Growth Accelerates
During the quarter, Cybrid’s non-photovoltaic segments delivered standout performance:
- Lithium battery and EV material shipments jumped 85% YoY
- Consumer electronics materials shipments surged 77.1% YoY
Non-PV revenue accounted for 28.6% of total sales, up 6.3 percentage points from last year, signaling a more balanced and resilient business mix. Total Q3 revenue reached RMB 687 million, supported by a solid RMB 98.77 million in net operating cash flow, up 17.6% from Q2.
PV Film Business Continues to Lead
Cybrid’s photovoltaic materials segment delivered strong results:
- Q3 PV film revenue: RMB 401 million, up 19.2% YoY
- Shipments: 85.05 million m², up 57.5% YoY
Production sites in China and Vietnam ran at full capacity, supporting global customers with consistent output and reinforcing Cybrid’s leadership in PV encapsulant solutions.
Expanding Global Reach
The company’s Vietnam base continues to bolster overseas markets including India, the EU, Japan, Turkey, Vietnam, and Taiwan. Excluding backsheet products:
- Overseas shipments rose 32.2% YoY
- Non-backsheet overseas revenue reached 6.0% of total sales
This reflects strong execution of Cybrid’s globalization strategy.
Innovation at the Center
Innovation remains Cybrid’s primary growth driver:
- RayBo light conversion film for TOPCon modules has reached mass production and widespread overseas deployment.
- For HJT modules, RayBo films have become a preferred solution among major manufacturers.
- TPO encapsulants for perovskite modules saw significant shipment growth.
The company continues to partner with downstream PV leaders, offering integrated perovskite solutions that include encapsulants, light conversion films, and moisture-barrier materials. Cybrid’s technological strength earned it a place among the PVBL 2025 Global Top 100 PV Brands.
Diversified Growth: Three Non-PV Segments on the Rise
1. Lithium Battery & New Energy Materials
A standout growth engine for Q3:
- Shipments up 85% YoY
- Revenue up 33.6% YoY
- EV-related products ran at full capacity
High-performing products include blue films for cells, CCS and side insulation films, automotive adhesive tapes, and puncture-resistant materials. Participation in events like CIBF 2025 strengthened Cybrid’s influence and industry partnerships.
Looking ahead, Cybrid will expand FFC/FCC encapsulants, high-shear blue films, and other next-gen materials to maintain strong upward momentum.
2. Consumer Electronics Materials
The consumer electronics division continued its rapid ascent:
- Shipments up 77.1%
- Revenue up 41.9%
Growth was led by OLED protective films and acoustic diaphragm materials. Ongoing R&D focuses on OLED adhesive innovations, MicroLED carrier adhesives, and materials for emerging solid-state battery designs.
3. Semiconductor Materials
The semiconductor materials segment posted steady expansion:
- Shipments up 17.4% YoY
Core products such as UV debonding tapes maintained market strength, while CMP fixing tapes entered mass production. New materials — including QFN films, MiniLED UV piercing films, and metal heat sinks for power modules — are advancing through customer validation and testing.
Strengthening R&D, Talent, and Innovation Infrastructure
Under its core philosophy, “Innovation Creates Value,” Cybrid continues to invest heavily in national-level R&D platforms and advanced research institutes. Several initiatives have been recognized in major provincial and municipal tech programs.
The Cybrid Innovation Academy focuses on cultivating talent and applying AI to accelerate materials research. Collaborative programs with universities like Soochow University further support commercialization of frontier technologies.
Looking Forward
Cybrid Technologies aims to deepen its expertise in core polymer materials, leverage global market opportunities, and drive long-term sustainability through continuous innovation. With technology as its engine and globalization as its foundation, the company is positioning itself as a world-class supplier of functional polymer material solutions.
