Image: 钉钉, Wikimedia Commons, CC BY-SA 4.0
Longi green energy posted a net loss of CNY833.6 million ($115 million) in the third quarter of 2025, down from CNY1.26 billion a year earlier, as weak demand and pricing pressure weighed on margins. Revenue fell 9.8% year-on-year to CNY 18.10 billion. During the first three quarters, revenues amounted to CNY50.92 billion, down 13.1%, while net losses fell 47.5% to CNY3.40 billion. The company shipped 38.15 GW of wafers and 63.43 GW of cells and modules during that period. BC series shipments reached 14.48 GW, with HPBC 2.0 modules accounting for 23% of total shipments. Operating cash inflow amounted to CNY 1.82 billion. Longi reported CNY51.3 billion in cash reserves and CNY96.13 billion in total liabilities, resulting in a debt-to-asset ratio of 62.4%. Asset impairment charges for the quarter amounted to CNY894 million.
JinkoSolar recorded a net loss of CNY 1.01 billion in the third quarter of 2025, while revenue fell 34.1% year-on-year to CNY 16.16 billion. Cumulative module shipments for the first three quarters reached 61.9 GW, including more than 200 GW of total N-type Tiger Neo deliveries, while energy storage system shipments exceeded 3.3 GWh. The company maintained its full-year 2025 shipment guidance at 85-90 GW for modules and 6 GWh for storage systems.
YES solar energy posted a net loss of CNY973 million in the third quarter of 2025, reversing a gain in the same period last year as revenue fell 34.1% year-on-year to CNY12.90 billion. Cumulative module shipments for the first three quarters reached 52 GW, including 18.17 GW in the third quarter. The company expects full-year module supply of 70 to 75 GW by 2025 and expects faster growth in its energy storage segment.
Flat glass group stated unaudited revenue for the third quarter ended September 30 was CNY4.73 billion, with profit attributable to shareholders totaling CNY376.5 million. Revenue for the first nine months of 2025 was CNY12.46 billion, down 14.6% year-on-year, while profit fell 50.8% to CNY638 million.
Xinte energy posted a net loss of CNY526.88 million for the nine months ended September 30, 2025, with revenue of CNY11.65 billion attributable to the listed company’s shareholders.
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