.jpg)
1 hour ago
2
Article content
(Bloomberg) — Chinese solar giant Longi Green Energy Technology Co. warned it may report another loss in calendar year 2025 as a prolonged downturn continues to weigh on the solar supply chain.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The company expects a full‑year net loss of about 6 billion yuan ($861 million) to 6.5 billion yuan for the period ended December, according to preliminary results released Sunday on the Shanghai Stock Exchange. This compares with the 8.6 billion‑yuan deficit in the year ended December 2024, it said.
Article content
Article content
Article content
Longi attributed the loss to the persistently low product prices and cost pressures, including the “sharp increase” in silver and polysilicon prices in the fourth quarter which weighed on its operations.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
China’s solar power industry has been struggling with overcapacity and intense competition, as well as the surging cost of silver, a key component in solar cell production. Sentiment toward the sector has gradually improved following a recent government campaign to address these issues across several industries, but the positive impact is most evident in polysilicon, a crucial upstream material used in solar panels.
Article content
Longi — the largest solar-panel maker in China by market capitalization — is poised for an earnings recovery this year as the solar industry swings to an upcycle, according to Bloomberg Intelligence analysts Chia Chen and Henik Fung.
Article content
Price competition is easing under the government’s campaign, while overcapacity is improving as solar firms cut capital spending and consolidation picks up. “These factors support a healthier market balance and higher solar-panel prices starting 2026,” they said in a note. Longi’s plan to transition to affordable base metals from silver in the second quarter should also strengthen margins in the long term, they added.
Article content
Article content
The company had previously posted a smaller loss in the third quarter after taking multiple cost reduction measures. Chairman Zhong Baoshen said in September that the company was “confident” it would return to breaking even in its core business in the fourth quarter.
Article content
Leading polysilicon producer Tongwei Co. also said on Sunday that it’s likely to post a net loss of 9 billion to 10 billion yuan in 2025, compared with 7.04 billion yuan net loss a year earlier. The company said its polysilicon segment achieved operating profit in the second half along with rising prices, but increasing costs of key materials such as silver still brought “significant” operating pressures.
Article content
—With assistance from Junyi Wu.
Article content
English (US)