Tongwei said it expects to post a net loss of CNY 9 billion ($1.29 billion) to RMB 10 billion for full fiscal year 2025. The polysilicon and module manufacturer said this loss is largely due to continued low pricing throughout the solar value chain, which has eroded margins, rising costs for key raw materials, and a persistent imbalance between supply and demand in the photovoltaic market. Tongwei posted a net loss of CNY 7.04 billion for 2024, down 152% from a net profit of CNY 13.58 billion in the preceding year, marking its first annual loss since listing.
Longi said it expects a net loss attributable to shareholders CNY 6 billion to CNY 6.5 billion for the fiscal year 2025. The company said the expected loss is mainly attributable to ongoing structural pressures in the photovoltaic industry — especially a persistent imbalance between supply and demand, which has kept solar product prices very low and intensified internal price competition. In 2024, the company posted a net loss of CNY 8.62 billion, down from a profit of CNY 10.75 billion in 2023, as annual revenue fell 36.2%. Longi also announced it signed a framework agreement with European distributor Brandmerchandising B.V. under which the partner will procure 300 MW of HPBC 2.0 high-efficiency modules.
JinkoSolar has announced distribution agreements totaling nearly 300 MW for its Tiger Neo 3 modules with Thailand-based UTI Energy, Solar Touch, JTN Energy, and IAN Solar, expanding its footprint in the Southeast Asian market. The company also announced its controlling subsidiary, Haining Jinko, plans to introduce strategic investors including Xingyin Asset Management and China Orient Asset Management through a capital increase of up to CNY 3.0bn ($412m) for a stake of no more than 24.68%. The proceeds will be used primarily to repay debt. JinkoSolar said it will waive its pre-emptive rights but retain an indirect holding of at least 68.94%, leaving control unchanged.
Trina Solar secured two supply agreements with ACWA Power covering utility-scale projects in Saudi Arabia. Trina will deliver 1.15 GW of modules for the Haden solar project and 900 MW of trackers for the 1.5 GW Al Khushaybi project. Both projects are scheduled for completion by July 2026, with grid connection planned for February 2027.
China Huadian Group has released its 2026 centralized PV module procurement tender, split into two lots of 6 GW and 2 GW, with minimum module efficiency requirements of 23.8% and 22.8%, respectively.
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