China Energy Engineering Corporation (Energy China) announced that a consortium formed by its subsidiaries – China Energy International Construction Group, Guangdong Thermal Power Engineering and Northwest Electric Power Design Institute – had signed three engineering, procurement and construction (EPC) contracts for renewable energy projects in Saudi Arabia. The consortium worked with a project company jointly established by the Saudi International Company for Power and Water, the Public Investment Fund (PIF) and Aramco Power. The total contract value is US$2.745 billion (CNY19.55 billion). The projects will include 3 GW of wind energy and 2 GW of solar energy, and are expected to be completed within 30 months.
GCL Technology Holdings Ltd. reported that its photovoltaic materials business returned to profitability in the third quarter of 2025, marking a turnaround from previous losses. The company posted a profit of approximately CNY 960 million (USD 132 million) for the quarter, compared with a net loss of CNY 1.81 billion (USD 249 million) in the same period last year. GCL also announced that average cash production costs for granular silicon – including R&D costs – fell to CNY 24.16 per kilogram (USD 3.32), down 10.8% from CNY 27.07/kg (USD 3.72) in the first quarter. The company said this cost level meets the latest national standards under China’s energy consumption guidelines for polycrystalline silicon and germanium products.
DMEGC magnets published its earnings guidance for the first three quarters of 2025, predicting net profit between CNY 1.39 billion (USD 191 million) and CNY 1.53 billion (USD 211 million), up 50.1% to 65.2% from CNY 926 million in the same period last year. As of the end of June 2025, the company’s total assets were CNY25.33 billion (USD3.48 billion), with a debt ratio of 56.99%. By business segment, solar photovoltaics remains DMEGC’s top growth driver, contributing CNY8.05 billion (USD1.11 billion) to revenue in the first half of 2025, up 36.6% year-on-year and accounting for 67.5% of total revenue. The magnetic materials and lithium battery segments remained stable, generating revenues of CNY 1.94 billion (USD 267 million) and CNY 1.29 billion (USD 177 million), respectively, each up about 4% year-on-year.
Leascend Technology Co., Ltd. announced the termination of a major asset restructuring plan. The company had previously proposed acquiring a 69.71% stake in Xingchu Century Technology Co., Ltd. through a combination of share issuance and cash payment, while it also planned to raise supporting funds through a private placement to its subsidiary Hainan Leascend Technology Co., Ltd. Leascend said the decision to terminate the deal was due to the parties’ failure to agree on key terms such as valuation and transaction price.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
