The Chinese government is launching an investigation to determine whether the European Union is blocking Chinese investments in solar energy.
The Chinese Ministry of Commerce said it has launched a trade and investment barriers investigation into the European Union’s actions towards Chinese companies under the EU Foreign Subsidies Regulation and its implementing rules. The investigation follows a request from the China Chamber of Commerce for the Import and Export of Machinery and Electronic Products and will focus on four main product categories: railway locomotives, solar photovoltaics, wind power and safety inspection equipment. The ministry collects information from stakeholders through questionnaires, hearings and on-site investigations. The investigation is expected to be completed on January 10, 2025, with a possible extension until April 10, 2025, under special circumstances.
Xinte energy said it expects a loss of between CNY780 million ($96.22 million) and CNY950 million for the six months ended June 30, 2024, compared with a profit of CNY4.75 billion in the same period last year. The company attributed the loss to the decline in the average selling price of polysilicon, despite a 50% increase in production volume and a 30% reduction in production costs. Xinte Energy noted that the impact of the polysilicon business outweighed positive developments in other units, such as wind and solar renewable energy projects, and manufacturing equipment and inverters, where shipments increased significantly. The final results will be published at the end of August.
Cybrid technologies said its half-year 2024 performance forecast predicts a net loss attributable to shareholders of between CNY15 million and CNY22 million for the first half of 2024. The company attributed the loss to significant capacity releases, increased market competition and weak demand, leading to a significant decline in both volume and price of its backsheet business. Although the sales volume of encapsulation film products remained stable, sales prices decreased significantly year-on-year, which also contributed to the loss.
Shanghai electrical investment has announced the shortlisted candidates for the first PV module tender of 2024. The list includes Tongwei, Das Solar, JinkoSolar, Trina Solar, GCL Integration, Canadian Solar, Risen Energy and JA Solar. The tender includes eight sections with a total purchasing capacity of up to 800 MW, requiring cell sizes of 182 mm and above. The bid prices show the lowest price for bids on p-type panels: CNY 0.76/watt, while the highest price for bids on n-type panels is CNY 0.839/watt.
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