Image: 钉钉, Wikimedia Commons, CC BY-SA 4.0
Tongwei expects to post a net loss of CNY9 billion ($1.29 billion) to RMB10 billion for the full fiscal year 2025. The polysilicon and module manufacturer said this loss is largely due to persistently low prices across the solar value chain, which have eroded margins, rising costs for key raw materials and a persistent supply-demand imbalance in the photovoltaic market. Tongwei posted a 2024 net loss of CNY7.04 billion, down 152% from a net profit of CNY13.58 billion in the previous year, marking its first annual loss since listing.
Long said it expected a net loss attributable to shareholders CNY 6 billion to CNY 6.5 billion for fiscal year 2025. The company said the expected loss is mainly due to ongoing structural pressures in the photovoltaic industry – especially a persistent supply-demand imbalance, which has kept solar product prices very low and intensified internal price competition. In 2024, the company posted a net loss of CNY8.62 billion, compared to a profit of CNY10.75 billion in 2023, while annual revenue fell 36.2%. Longi also announced that it has signed a framework agreement with European distributor Brandmerchandising BV, under which the partner will purchase 300 MW of HPBC 2.0 high-efficiency modules.
JinkoSolar has announced distribution agreements totaling nearly 300 MW for its Tiger Neo 3 modules with Thailand-based UTI Energy, Solar Touch, JTN Energy and IAN Solar, expanding its footprint in the Southeast Asian market. The company also announced its controlling subsidiary, Haining Jinko, to introduce strategic investors including Xingyin Asset Management and China Orient Asset Management through a capital increase of up to CNY3.0 billion ($412 million) for a stake of not more than 24.68%. The proceeds will mainly be used to pay down debt. JinkoSolar said it will relinquish its pre-emptive rights but retain an indirect stake of at least 68.94%, leaving control unchanged.
Trina Solar has signed two supply agreements with ACWA Power for utility-scale projects in Saudi Arabia. Trina will supply 1.15 GW of modules for the Haden solar project and 900 MW of trackers for the 1.5 GW Al Khushaybi project. Completion of both projects is scheduled for July 2026, while grid connection is scheduled for February 2027.
China Huadian Group has released its 2026 centralized tender for PV modules, split into two lots of 6 GW and 2 GW, with minimum module efficiency requirements of 23.8% and 22.8% respectively.
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