Image: Siyuan Hu, Unsplash
Sunny said revenue reached CNY89.184 billion ($12.95 billion) in 2025, up 14.55% year-on-year, with net profit attributable to shareholders increasing 21.97% to CNY13.461 billion. Energy storage systems generated revenue of CNY 37.287 billion, up 49.39%, accounting for 41.8% of total revenue, while global storage deliveries reached 43 GWh. PV inverter revenues totaled CNY 31.136 billion, with global deliveries of 198 GW and an estimated market share of 30%. Foreign revenue increased 48.7% to CNY 53.992 billion, accounting for 60.5% of total revenue. The company attributed a more than 50% year-on-year decline in fourth-quarter net profit to a CNY1.0 billion stimulus fund provision and adjustments to delivery schedules for overseas projects, and said it is advancing plans for a Hong Kong listing to support global expansion.
Laplace has denied market rumors that it had secured a second-phase PV project from Tesla worth nearly CNY 10 billion, saying no such orders existed and no classified material information was being withheld. The company warned investors against irrational speculation following recent stock gains.
The National Energy Administration (NEA) said China’s nationwide solar energy utilization rate reached 90.8% from January to February, down four percentage points from the 2025 average and close to the oft-cited 90% threshold. The decline was attributed to reduced electricity demand during the Lunar New Year holiday period, when lower industrial and commercial activities typically increase solar curtailment.
GCL New Energy said the board has proposed changing the company’s English name to Dynasty Digital Holdings Ltd, reflecting a strategic shift towards the integration of digital technologies, including AI and Web3.0, into business development.
The Chinese Nonferrous Metals Industry Association (CNMIA) said polysilicon prices are falling sharply, with n-type re-feed and granular silicon both averaging CNY36,500 per tonne on April 1, down 9.88% week on week. N-type resupply polysilicon traded between CNY 35,000 and 37,000 per tonne (MT), while n-type granular silicon traded between CNY 36,000/MT and 37,000/MT, with both averaging CNY 36,500/MT.
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