China’s NEA said domestic demand remained strong despite weaker exports. The nation added 59.7 GW of new PV capacity in the first quarter of 2025, up 30.5% from a year earlier. For the first time in history, total installed wind and solar power capacity reached 1,482 GW, surpassing coal-fired generation capacity, which stood at 1,451 GW.
The China Chamber of Commerce for Import and Export of Machinery and Electronic Products said China exported PV products worth $6.71 billion in the first quarter, down 30.5% year over year. Exports of solar wafers fell 52.1% to $290 million, with shipment volumes down 11.4% to 1.32 billion units. Exports of solar cells rose 13.5% to $830 million, with volumes up 51.1% to 20.1 GW, indicating strong overseas interest in intermediate products. Module exports, the largest segment, dropped 33% to $5.59 billion, with shipment volume down 7.4% to 57.9 GW.
GCL Technology said that its Hohhot-based granular silicon facility achieved a record-low carbon footprint of 18.050kg CO₂ equivalent per kilogram, according to certification from the French Environment and Energy Management Agency (ADEME). The figure significantly undercuts the industry average for monocrystalline silicon and marks the lowest lifecycle carbon footprint ever reported for a granular silicon production base (excluding metallurgical-grade silicon).
TCL Zhonghuan has reported a deepening loss in its 2024 financial results as price declines outpaced volume growth. The company posted revenue of CNY 28.42 billion ($3.91 billion), down 52.0% year on year, and a net loss attributable to shareholders of CNY 9.82 billion. While wafer shipments rose 10.5% to 125.8 GW, giving the company an 18.9% global market share, sharp price erosion resulted in a 51.95% drop in revenue. In its first-quarter 2025 report, TCL Zhonghuan recorded revenue of CNY 6.10 billion, down 38.6% year on year, with a net loss of CNY 1.96 billion, a 116.7% plunge from the same period in 2023.
Arctech Solar said it bucked the sector’s broader downtrend with strong international sales in 2024. The company reported annual revenue of CNY 9.03 billion, up 41.25% year on year, driven by a 127.63% surge in overseas revenue to CNY 7.36 billion, which accounted for more than 81.5% of total sales. Net profit attributable to shareholders rose 83.03% to CNY 632 million. Earnings per share climbed 81.87% to CNY 3.11, while return on equity reached 19.72%. The board proposed a cash dividend of CNY 10 per 10 shares. The company’s 2024 R&D spending rose 19.28% to CNY 203 million. Revenue from its core tracking and fixed-mounting systems stood at CNY 7.63 billion and CNY 1.08 billion, respectively, while its building-integrated photovoltaics (BIPV) business generated CNY 257.5 million.
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