Chinese solar manufacturers have reported mixed results of the first quarter. DMEGC registered strong growth, while colleagues such as HIUV, Risen, Autowell and Jolywood sharp decreases members in the midst of falling prices and oversupply.
DMEGC Said that the net profit attributed to shareholders by 29.67% after year increased to CNY 458 million ($ 715.5 million) in the first quarter of 2025, because sales grew by 23.36% to CNY 5.22 billion. The basic profit per share achieved CNY 0.29, with an weighted average return on equity of 4.45%. The gross margin improved to 16.60%, an increase of 1.13 percentage points, while the net profit margin rose by 2.23 points to 10.55%. Photovoltaic and lithium battery products were 72.66% of the total turnover, with magnetic materials that contributed 20.54% and other companies 6.8%.
HIUV Material technology achieved a net loss of CNY 57.44 million in the first quarter of 2025, a decrease of 204.86% on an annual basis, because sales fell by 64.02% to CNY 316 million. The profit per share was on CNY -0.69 and the return on equity fell to -3.62%. The company blamed the intensifying market competition and lower film prices for the slump, together with a cautious sales strategy that oppressed volume and turnover.
Risen energy Said that it registered a net loss of CNY 3.44 billion for 2024 for the entire year, a decrease of 352.03% compared to the previous year, with a turnover of CNY 20.24 billion-a decrease of 42.71%. The company shifted 18.07 GW from PV modules, including 6.79 GW abroad, while the sale of N-type heterojunction products more than doubled. Risen attributed the loss to an unbalanced ingredient, falling prices in the value chain and large assets and inventory.
Car Said the net profit dropped by 57.56% years after year to CNY 141 million in the first quarter, because sales fell by 21.90% to CNY 1.53 billion. The profit per share fell to CNY 0.45 of CNY 1.06 in the same period of 2024. The company called weaker sales and lower gross profit margins between equipment lines.
Jolywood Registered a net loss of CNY 856 million in 2024, with 262.6% on an annual basis, because sales fell by 50.3% to CNY 6.1 billion. In the fourth quarter alone, sales fell by 38.4% to CNY 1.55 billion, while the net losses increased to CNY 553 million, a decrease of 1,385.1% compared to the same period last year. The company blamed the irrational price competition in the solar market for the collapse of the margin in its core products, including background scale, solar cells and modules.
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