Some Chinese listed photovoltaic (solar cell) enterprises have released their 2024 annual reports, showing that the losses of Chinese photovoltaic companies have exceeded expectations. Only 9 photovoltaic companies are expected to incur losses of 36 billion yuan in 2024.
Since January, listed companies on the A-share and H-share markets in China have successively issued performance forecasts for 2024. Among the released forecasts, photovoltaic companies have shown significant losses.
According to a report by Huaxia Energy Network on January 20, among the 9 companies that have already announced their performance forecasts, the largest loss is projected by the once renowned “photovoltaic giant” Longi Green Energy. Longi Green Energy is expected to incur a net loss of 8.2 billion to 8.8 billion yuan in 2024, marking its first annual loss since 2013. Another photovoltaic giant, Tongwei Co., closely follows with an estimated net loss of 7 billion to 7.5 billion yuan in 2024, its first loss in the 23 years since its listing.
New Energy and Daqo New Energy, both referred to as the “Four Silicon Titans” alongside Tongwei Co., have also reported substantial losses. New Energy anticipates a net loss of 3.8 billion to 4.1 billion yuan in 2024, while Daqo New Energy estimates a net loss of 2.6 billion to 3.1 billion yuan.
Leading component companies focusing on heterojunction cell technology, such as East Sunrise, expect a net loss of 2.7 billion to 3.5 billion yuan in 2024. Hongyuan Green Energy, known as the “Little Longi” for its recent expansion, projects a net loss of 2.5 billion to 2.7 billion yuan in 2024, and JA Solar, a longtime photovoltaic component manufacturer, expects a net loss of 1.9 billion to 2.3 billion yuan in 2024.
In the silicon wafer segment, Jiangsu Akcome Science & Technology forecasts a net loss of 1.68 billion to 2.45 billion yuan in 2024, while Shuangliang Eco-Energy expects a net loss of 1.98 billion to 1.68 billion yuan.
The combined losses of these 9 leading companies amount to between 32.36 billion and 36.13 billion yuan.
Furthermore, several companies in the photovoltaic film sector are also expecting losses. Heiyou New Materials anticipates a net loss of 480 million to 580 million yuan in 2024. Saiwu Technology forecasts a net loss of 200 million to 250 million yuan. Tianyang New Material expects a net loss of 110 million to 220 million yuan. Mingguan New Material projects a net loss of 60 million to 80 million yuan in 2024.
Companies that did not forecast losses also experienced a significant decrease in performance. Jinko Solar, known as the “King of TOPCon” solar cell technology, expects to turn a profit in 2024. However, its expected net profit is only 80 million to 120 million yuan, a decrease of 98.39% to 98.92% compared to the previous year, placing it on the brink of losses.
According to reports, the industry had anticipated the severity of the operational losses in 2024, but the situation has proven to be more difficult than expected, with challenges escalating towards the end of the year.
Many of the companies attribut…
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