Energy
China’s Top Solar Firms Post Big Losses as Oversupply Persists
- Companies forced to sell below cost after capacity buildup
- Increased scrutiny could help accelerate sector consolidation
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China’s top solar manufacturers posted big losses in the third quarter as severe overcapacity and price wars continue to hurt the companies producing equipment critical to global energy transition.
Leading panel-maker Longi Green Energy Technology Co. chalked up its fourth straight quarterly net loss of 1.26 billion yuan ($177 million), after recording a profit of 2.5 billion yuan in the same period last year. Rivals Tongwei Co. and Trina Solar Co. also swung to losses, while JA Solar Technology Co. saw net income plunge and Jinko Solar Co. barely turned a profit.