Major Developments in the Solar Photovoltaic Industry: Investments, Challenges, and Innovations

Major Solar Project Launched with Investment of Approximately 2.822 Billion Yuan

On April 20, the construction of the 500,000-kilowatt solar project in Dege County, Garze Prefecture, Sichuan Province officially commenced. This project, which is being developed by the Garze Energy Development Group, is situated in a highland area at an altitude of 4,200 to 4,600 meters. The total investment for the project is approximately 2.822 billion yuan, and it is expected to be completed and operational by December 2026. Once fully operational, the power station is projected to generate 970 million kilowatt-hours of electricity in its first year of operation.

Profits Exceed 2.5 Billion Yuan for Leading Solar Company

On April 19, Jingsheng Mechanical & Electrical released its annual report for 2024, reporting revenues of 17.577 billion yuan, a decrease of 2.26% year-on-year. The net profit attributable to shareholders was 2.51 billion yuan, reflecting a significant decline of 44.93%. As of December 31, 2024, the company had unfulfilled contracts in integrated circuits and compound semiconductor equipment exceeding 3.3 billion yuan (including tax).

Investment of 1.488 Billion Yuan for New 300 MW Solar Project

On April 21, global leader in power transmission and transformation, TBEA, announced that its subsidiary, Xunyi Xinte, will invest in the construction of a 300 MW solar composite project in Jiangsu’s Tianquan Lake, with a total investment of 1.488 billion yuan. The project includes a solar power station, a 220 kV booster station, and a 30 MW/60 MWh energy storage system.

Inverter Giant Sees Remarkable First Quarter Performance

On April 11, Heweih Electric reported impressive results for the first quarter of 2025. From January to March, the company achieved revenues of 777 million yuan, a year-on-year increase of 41.02%, while the net profit attributable to shareholders jumped over 90% to 105 million yuan.

High Tariffs Impact Southeast Asian Solar Production

On April 21, the U.S. Department of Commerce announced tariffs exceeding 3,500% on solar products from four Southeast Asian countries, intensifying the ongoing trade conflict with China. This development is expected to have significant repercussions on the solar industry.

Another Solar Company Declares Bankruptcy

On April 16, the People’s Court of Shuyang County, Jiangsu Province, officially initiated bankruptcy proceedings for Suqian Yanglin Solar Technology Co., Ltd. The court’s ruling stated that the company had failed to repay due debts and was evidently lacking the capacity to do so, leading to its bankruptcy filing.

New Solar Project Estimated at 1.8 Billion Yuan Set to Launch

On April 18, the Shaanxi Baiyang Green Energy project, which aims to produce 6 GW of high-efficiency solar cells annually, is expected to be completed by July 2025. This project will include the construction of production workshops, power stations, and assorted facilities, along with the installation of necessary equipment.

Loss Exceeds 1.1 Billion Yuan for Zhongli Group

On April 22, Zhongli Group announced its annual report for 2024, revealing revenues of 2.358 billion yuan, a decline of 41.80% year-on-year, and a net loss of 1.174 billion yuan, an increase in losses of 323 million yuan compared to the previous year. The company is currently undergoing a bankruptcy restructuring.

First Quarter Sales Report from Major Solar Equipment Manufacturer

On April 21, Aotwei, a leading solar equipment manufacturer with a market capitalization exceeding 10 billion yuan, announced its first-quarter performance for 2025. The company recorded revenues of 1.534 billion yuan, a year-on-year decrease of 21.90%, with a net profit of 141 million yuan, reflecting a dramatic drop of 57.56%.

AI and Solar Power Growth: A Dual Pathway

In the first quarter of 2025, China experienced two significant trends in energy consumption: a 25.7% year-on-year increase in electricity demand driven by AI computation, and a 43.4% year-on-year growth in solar power installed capacity. This dual pathway is reshaping the energy landscape of the Chinese economy.

Solar Inverter Export Data: A Potential Indicator for Solar Module Trends

Since the beginning of 2025, there have been no updates on monthly export data for China’s solar products. A review of customs data for the last three months suggests the need for analysis to gauge market confidence and understand the broader industry situation.

New Opportunities for Solar Professionals: Selling Milk Tea?

While it may sound humorous, some solar industry professionals might find new avenues by venturing into unrelated businesses such as selling milk tea. On the evening of the recent public listing of a milk tea company, shares surged nearly 50%, highlighting a potentially lucrative alternative.

Solar Industry Faces Challenges Amid Slow Growth

The solar industry in China is experiencing undeniable slow growth, with installed capacity dropping from 277.57 GW in 2024 to a range of 215-255 GW. Policy adjustments and uncertainties are creating a challenging environment for companies, with tightening grid connections for distributed solar and fluctuating electricity prices causing disruptions in the once-booming residential market.

SunPower’s Potential Revival After Bankruptcy

Recent reports indicate that after filing for bankruptcy in 2024, SunPower’s brand may be revived by Complete Solaria, a company founded in 2022.

Challenges in Listing for Leading New Energy Firm

On April 20, reports surfaced that the IPO process for CATL, a global leader in new energy batteries, may be postponed beyond the originally planned date in late April due to various complications.

Acquisition Announcement from New Solar Firm

On April 20, Lian Sheng Technology announced its intention to acquire 69.71% of Xingshu Century Technology Co., Ltd. through a combination of stock issuance and cash payments.

Continuous Losses for Solar Company Venturing into New Markets

On April 19, Haiyou New Materials released its annual report for 2024, reporting revenues of 2.591 billion yuan, a decline of 46.81% year-on-year, and a net loss of 558 million yuan, marking a significant drop in performance.

Hengdian Dongci Reports Strong First Quarter Results

On April 21, Hengdian Dongci announced its first quarter results for 2025, achieving revenues of 5.222 billion yuan, a year-on-year increase of 23.35%, with a net profit of 458 million yuan, up 29.65%.

Home Appliance Giants Entering the Solar Market

As the global new energy sector undergoes profound transformations under carbon neutrality initiatives, traditional home appliance manufacturers in China are increasingly entering the solar industry, reflecting both market anxieties and deeper industrial restructuring.

Impact of U.S.-China Trade Conflict on Solar Installations in the UK

In the first quarter of 2025, the installation of household solar systems in the UK surged by 37%, a trend that can be largely attributed to the ongoing trade tensions between the U.S. and China.