Has the photovoltaic industry emerged from its trough?

  • As listed companies completed the release of their third-quarter reports, Cailian Press found that losses continued across the photovoltaic industry and the sector was still searching for a bottom, although some companies had improved their performance in individual quarters.
  • Liu Zeyang, executive secretary-general of the China Photovoltaic Industry Association, said the industry remains in a period of deep adjustment, exports have remained resilient, and technological innovation is the core support helping the industry navigate the cycle.

What else can drive demand as prices stabilize?

  • Guotai Haitong Securities believes the industry is at the bottom of its cycle and that, as the push against excessive competition gradually deepens, supply-chain prices have shown signs of stabilizing and recovering.
  • The firm expects more applications and policy support to further drive demand growth as carbon-neutrality goals continue to advance. Signs of price improvement coexist with continuing losses across the industry as a whole.

Why did Aiko Solar’s gross margin improve?

  • Aiko Solar’s third-quarter gross margin reached 13.3%, up 4.9 percentage points quarter on quarter, marking its third consecutive quarter of substantial quarter-on-quarter improvement. The materials attribute this performance mainly to steady growth in sales of high-efficiency ABC modules and a ramp-up in deliveries.
  • The company plans to invest 1.15 billion yuan to comprehensively retrofit and upgrade its Tianjin PERC cell capacity into 6 gigawatts of ABC cell capacity. The conversion is expected to improve global delivery and supply assurance capabilities for ABC products, as well as asset operating efficiency and cost competitiveness at scale.