Chinese Solar Sector’s Recovery Unlikely as Glut Persists
- Major firms reporting losses as production beats demand
- Longi bets on new tech but it’s not yet cost-competitive: note
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China’s floundering solar sector will continue to face tough times in the short-term, major manufacturer Longi Green Energy Technology Co. said, as an oversupplied market keeps profits suppressed.
The nation’s world-leading solar industry is grappling with a deepening glut after production outstripped demand in recent years. Major firms including Longi reported losses in the first quarter as they were forced to sell below costs.