The China Nonferrous Metals Industry Association (CNMIA) says polysilicon production has fallen to 32% of capacity, maintaining oversupply, while wafer prices are weakening as demand fails to recover after Chinese New Year.
The CNMIAChina’s Silicon Industry Division said polysilicon prices continue to decline, with limited transactions and subdued purchases after the Chinese New Year holidays. Business rates among manufacturers fell to 32%, but oversupply remained. Wafer prices also fell, with n-type G10L averaging CNY1.10 ($0.15) per piece, down 8.33%; G12R at CNY 1.20, down 4.76%; and G12 at CNY 1.40, down 3.45%. The trade association attributed the trend to a slower-than-expected recovery in downstream waffle demand and cautious buyer sentiment.
Daqo New Energy said its controlling shareholder, Daqo Cayman, reported fourth-quarter 2025 polysilicon production of 42,181 tonnes (MT) and sales of 38,167 tonnes, generating revenues of $221.7 million, down from $244.6 million in the third quarter. The net loss attributable to shareholders was $7.3 million. For the full year 2025, production was 123,652 tons, sales were 126,707 tons, revenues were $665.4 million and net losses were $170.5 million. The company expects production of 35,000 tons to 40,000 tons for the first quarter of 2026 and annual production of 140,000 tons to 170,000 tons, taking into account planned maintenance.
China General nuclear energy New energy has released shortlisted candidates for the 2026 framework purchase of PV inverters. Selected companies include Digital China (Shenzhen), Sineng Electric, Zhuzhou Converter National Engineering Research Center, Sungrow, TBEA Xinjiang New Energy, Kehua Digital Energy and Sofar Solar. The tender includes 9 GW across five lots for string inverters with a capacity of 300 kW and above, with 150 kW to 300 kW as backup options. The framework agreement runs from January 1 to December 31, 2026.
Trina Solar said it has updated target prices for distributed PV modules. Standard large format and double-sided anti-pollution modules were quoted at CNY0.89/W to CNY0.94/W, about CNY0.01/W from January 20 levels. Anti-glare modules were priced at CNY 0.94/W to CNY 0.98/W, down from CNY 0.01/W, while lightweight single-glass modules were listed at CNY 0.99/W to CNY 1.03/W, down from CNY 0.09/W to CNY 0.19/W.
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