Chinese PV Industry Brief: JA Solar’s nine-month loss widens

Jinko Holdings Limited (NYSE: JKS), formerly JinkoSolar Holding Co., Ltd., said that its corporate name change has taken effect following shareholder approval. The company’s New York Stock Exchange ticker symbol, JKS, remains unchanged. Jinko said the new name reflects its transition from a solar manufacturing holding company to a diversified investment holding platform. The company will retain its controlling interest in Shanghai-listed Jinko Solar Co., Ltd. (SSE: 688223) as its industrial foundation while expanding strategic investments in artificial intelligence, advanced materials, commercial space and other emerging technologies. It also plans to provide quarterly updates on significant developments across its investment portfolio.

JA Solar (SZSE: 002459) reported revenue of CNY 28.113 billion for the first nine months of 2026, down 23.62% year on year. Its net loss attributable to shareholders widened to CNY 3.64 billion, from CNY 3.558 billion a year earlier, while its net loss excluding non-recurring items reached CNY 4.137 billion. Third-quarter revenue fell 17.74% to CNY 10.616 billion, while its quarterly net loss attributable to shareholders narrowed slightly to CNY 974 million, from CNY 977 million a year earlier. Solar cell and module shipments totaled 36.22 GW during the first nine months, including 68 MW for internal use, with overseas markets accounting for 60.92% of module shipments. Net operating cash flow fell 14.95% to CNY 3.981 billion. The company attributed its continued losses to depressed industry prices, increased asset impairment charges and higher contractual compensation costs.

Tongwei signed cooperation agreements totaling 1 GW for its TNC 2.0 FULLX solar modules with Australian distributors Blue Sun Group, Supply Partners and OSW during the All-Energy Australia exhibition in Melbourne. The company said the modules combine high power output and reliability with an all-black design, targeting Australia’s residential rooftop solar market. Tongwei also reported that its cumulative module shipments to Australia had exceeded 1 GW and that it had received EUPD Research’s Top Brand PV award in Australia for the second consecutive year.

HIUV (SSE: 688680), a Chinese solar encapsulation film manufacturer, reported revenue of CNY 960 million for the first nine months of 2026, up 10.3% year on year. Its net loss attributable to shareholders narrowed to CNY 60.24 million, from CNY 208 million a year earlier. Third-quarter revenue rose 47.3% to CNY 349 million, while its quarterly net loss narrowed to CNY 12.68 million, from CNY 74.58 million in the same period last year. The company recorded a third-quarter gross margin of 7.84% and attributed its revenue growth to increased sales volumes of PV encapsulation films. Net operating cash flow for the first nine months was negative CNY 101 million, down 136.8% year on year.

Maxwell Technologies (SZSE: 300751), a Chinese solar manufacturing equipment supplier, said that it plans to terminate a proposed public offering of convertible bonds worth up to CNY 1.967 billion. The offering was originally intended to finance a perovskite tandem solar cell equipment manufacturing project, and the fundraising plan was first announced in 2025. Maxwell’s board unanimously approved the termination, citing the company’s current operating conditions, long-term development strategy and prevailing market conditions in the solar industry. Its independent directors said the decision would not materially affect normal operations or long-term development. The proposal remains subject to shareholder approval at an extraordinary general meeting scheduled for Nov. 13.