Chinese PV Industry Brief: Tongwei temporarily halts polysilicon output in Sichuan

Tongwei, the world’s largest polysilicon supplier, has been told by the Sichuan provincial government and the regional branch of China’s State Grid to shut off its major production bases until Friday due to high temperatures. Industrial production halts will help the authorities to address soaring electricity consumption amid hot weather in the region, to ensure grid security and guarantee power supplies to the general public. Most of Tongwei’s polysilicon and cell facilities are in Sichuan province. Last week, the China Nonferrous Metals Industry Association said that polysilicon prices will continue to soar due to tight supplies and high demand, and Tongwei’s shutdown could have an impact on prices this week.

Yingli has announced the opening of a 5 GW N-type solar cell base in Baoding, Hebei province. It said the CNY 2.5 billion ($368.3 million) production hub will create about 1,000 new jobs. It will feature state-of-the-art N-type TOPCon solar cell lines with MES smart manufacturing capabilities, AGV logistic transportation systems, and other new cell production technologies.

Shangji, a new wafer manufacturer, has announced plans to invest CNY 15 billion in a new factory in Xuzhou, Jiangsu province. The facility will include 25 GW of monocrystalline wafer capacity and 24 GW of N-type solar cell capacity. The first phase will involve 25 GW wafer capacity, while the second phase will feature 14 GW of N-type solar cell capacity. Shangji said the third phase will focus on 10 GW of additional cell capacity. It expects to complete the entire project within two to three years, funded by its own capital, bank loans and other forms of financing.

GCL Technology‘s major shareholder, the Zhu Family Trust, has said that it will subscribe to a convertible bond valued at $800 million to $1 billion. GCL Technology has denied reports indicating that it has abandoned a planned A-share listing in China, and insisted that an offering is still a possibility. pv magazine reported in July that GCL Technology Chairman Zhu Gongshan had increased his holdings by 10 million shares at a cost of HKD 35.5 million ($4.5 million).

Daqo has revealed that it has issued the equivalent of around 10% of its company stock to “key employees, directors, and officers” under this year’s share incentive scheme. Based on the share price at the time the scheme was launched, the move will cost the company $263 million this quarter, plus $7.3 million per month from October until September 2025, for a total bill of $526 million.

Irico New Energy has agreed to buy around CNY 1 billion worth of photovoltaic glass products from float glass maker China Glass. The estimated value of the deal, which will run from September until August 2025, is based on current prices.