Chinese PV Industry Brief: Major solar manufacturers report steep full-year losses

JA Solar, TCL Zhonghuan, JinkoSolar, Trina Solar and Daqo each announced significant losses for full fiscal year 2025 amid continued price declines and overcapacity.JA Solar forecast a full-year net loss attributable to shareholders of CNY 4.5-4.8 billion ($619-660 million) for 2025, with earning per share (EPS) at -CNY 1.37 to -CNY 1.46. It attributed the loss mainly to supply-demand imbalance caused by concentrated capacity additions across the PV value chain, compounded by rising trade protectionism that pushed down module average selling prices (ASPs) and margins. In its previous disclosure, ...

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