Chinese PV Giants Report Widening Losses Amid Market Challenges
JA Solar, Longi, and Tongwei face significant revenue declines and mounting financial losses.
1Financial Struggles of PV Leaders
Leading Chinese solar manufacturers JA Solar, Longi, and Tongwei reported widening net losses for the first nine months of 2026. JA Solar's revenue fell 23.62% to CNY 28.113 billion, while Longi and Tongwei also saw significant year-on-year revenue declines. These figures reflect the ongoing financial pressure within the global photovoltaic sector.
2Shipment Volumes and Market Shifts
Despite revenue drops, JA Solar reported third-quarter shipments of 13.97 GW, marking a 35% quarter-on-quarter increase. Longi achieved 48.61 GW in total module shipments, with back-contact modules accounting for over 65% of that volume. Overseas markets remain critical, representing nearly 61% of JA Solar's total module shipments during this nine-month period.
3Renewable Energy Auction Results
The Guangdong Power Exchange Center finalized its 2026 renewable energy auction, selecting 58,962 distributed solar projects. The mechanism price was set at CNY 0.300 per kWh, representing a 16.7% decrease from the previous round. This auction covered 7.934 TWh of electricity volume, with the established price remaining applicable for a 12-year duration.
4Operational Growth for CECEP
CECEP Solar Energy expanded its footprint by adding 1,311.24 MW of operational solar capacity in the first ten months of 2026. The firm also registered 4,320 MW of standalone energy storage projects. Cumulative electricity generation reached 8.394 TWh by October, already surpassing the company's total output recorded for the entire 2025 fiscal year.
5Cloud Computing Diversification Strategy
Ganshu Golden Solar secured a major cloud computing services contract valued at up to CNY 1.536 billion through its subsidiary. The agreement spans 60-month service periods per batch, with payments due quarterly. While this represents a significant revenue opportunity, the company clarified that the maximum amount is not a formal earnings commitment.
6AI Integration in Energy
The National Energy Administration proposed 93 pilot projects under its AI+ energy initiative to modernize grid operations. Key focus areas include virtual power plants, energy storage diagnostics, and multi-energy system optimization. Major industry players like Sungrow, CATL, and EVE Energy are participating in these expert-reviewed projects, which are currently under public consultation.
7Market Stabilization Efforts
While net losses remain high, some companies are showing signs of operational improvement. Longi reported a narrowing net loss in the third quarter compared to the second, alongside a 6.27 percentage point increase in back-contact module gross margins. Tongwei also saw its quarterly net loss shrink from CNY 2.675 billion to CNY 1.639 billion.
8Industry Outlook and Implications
The Chinese solar industry is currently navigating a period of intense price volatility and structural transition. The shift toward AI-integrated energy models and high-efficiency module technologies indicates a strategic pivot. Stakeholders must monitor the upcoming public review results and the long-term impact of lower auction prices on future project profitability.
Original article: pv magazine — Chinese PV Giants Report Widening Losses Amid Market Challenges