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Reuters
30-04-2025
- Business
- Reuters
China's solar industry remains in red as trade war adds to problems
Summary Companies Longi, Jinko both report Q1 net loss of 1.4 billion yuan Losses hit 1.6 billion yuan for JA Solar, 1.3 billion for Trina US-China trade war adding to price, tariff pressures BEIJING, April 30 (Reuters) - China's solar manufacturers reported losses this week as U.S. President Donald Trump's trade war put further pressure on demand in an industry where top manufacturers were already facing low prices and tariffs on exports to the United States. Top producers Longi Green Energy ( opens new tab and JinkoSolar ( opens new tab, (JKS.N), opens new tab both reported a net loss of 1.4 billion yuan ($193 million) for the first quarter, while losses for peers JA Solar ( opens new tab and Trina Solar ( opens new tab totalled 1.6 billion yuan and 1.3 billion yuan, respectively. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Longi, which also turned in a net loss of 8.6 billion yuan for 2024, told analysts in a call that demand for solar products was expected to be flat year-on-year in 2025. "During the reporting period, solar industry supply chain prices were at a low level, combined with overseas trade policies impacting demand, all segments of the industry were under pressure," said Jinko, where losses increased from 473.7 yuan in the fourth quarter of last year. The company's sales of solar products, including silicon wafer, solar cells and modules, fell 12.68% year-on-year to 19,130 megawatts in the quarter. Jinko said it saw the fastest growth in the Asia Pacific and Africa regions, although China, the U.S. and Europe remain the largest markets. Even before Trump's trade war, in which he has levied 145% tariffs on imports of Chinese goods, Chinese solar exports were facing tariffs in the U.S., the second-biggest solar market after China. As a result, Chinese manufacturers had set up production bases in third countries in Southeast Asia - countries that U.S. manufacturers later targeted with trade cases alleging they were flooding the market with cheap goods. In response to one of those cases, the U.S. last week finalised tariffs of as high as 3,500% on solar products from Chinese solar manufacturers with factories in Malaysia, Cambodia, Thailand and Vietnam. The U.S. made up about 5% of Jinko's sales in the quarter, it said in its investor call. In addition to solar products, tariffs were also making it prohibitively expensive to sell battery storage systems to the U.S., Jinko told investors. Meanwhile, CSI Solar ( opens new tab, a NASDAQ-listed subsidiary of China's Canadian Solar, plans to accelerate the relocation of manufacturing to low-tariff regions and is negotiating with major clients and suppliers to reasonably share tariff costs, it said in a filing with the U.S. Securities and Exchange Commission on Monday. At the same time, CSI said it was preparing for potential U.S.-China negotiations and the adjustment of tariffs to a more reasonable range, while also pursuing tariff exemptions for some products.
Zawya
23-04-2025
- Business
- Zawya
Chinese firm to build solar panel plant in Algeria
A Chinese company is planning to build a solar panel plant in Algeria to take advantage from a vast market in the African continent. Longi, one of the world's largest photovoltaic devices manufacturers, presented its investment plan at talks with the Algerian Investment Promotion Agency (AIPA) in the capital Algiers on Tuesday, the local press reported. 'A Longi delegation explained its plan to build a solar panel plant in the country…AIPA Director General Omar Rakash explained the incentives that will be offered to such a project,' the Arabic language daily Elkhabar said. The paper quoted Rakash as saying the project would support Algeria's plans to expand its reliance on renewable energy sources. It said Longi had earlier presented its planned project to the Energy and Mines Minister Mohammed Arkab but it did not provide project details. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Yahoo
17-03-2025
- Business
- Yahoo
Chinese companies to invest in Bangladesh as ties strengthen
"They will invest in Bangladesh very soon," Chinese Ambassador to Bangladesh Yao Wen said about Chinese solar panel manufacturers. Wen was visiting Bangladesh's Chief Adviser, Muhammad Yunus, who has urged Chinese companies to relocate manufacturing plans to Bangladesh as the new government seeks to spur economic growth. The world's largest solar panel manufacturer, Chinese operator Longi, will establish an office in Bangladesh and invest in production in the country, Wen added. He said top Chinese solar manufacturers visited Bangladesh in December to explore investment opportunities. Wen noted that since Sheik Hasina's removal in August, Chinese businesses have become the largest foreign investors in Bangladesh. He also highlighted Yunus' upcoming visit to China (his first foreign visit as chief adviser) as the most significant in the countries' 50-year relationship, marking them as "trustworthy and close friends". Yunus welcomed the announcements as his government seeks to spur economic growth and stability after the raucous change in government last summer. He encouraged Chinese investors to also look at the healthcare sector. "Bangladesh needs massive investment in healthcare. Chinese hospital chains now have a unique opportunity to build hospitals here," he added. Last summer, Bangladesh's former authoritarian ruler, Sheikh Hasina, fled the country following the eruption of student protests that evolved into a national movement to oust her. The events led to some instability for foreign companies, particularly those in the textile sector. At the time, some companies changed shipment orders to manufacturing plants in surrounding countries. However, the establishment of interim leader Muhammad Yunus, a widely respected figure in the country, has allowed for a relatively stable transition of power. Yunus is well-recognised on the international stage for pioneering the use of microfinance to combat poverty, for which he won a Nobel Peace Prize in 2006. Under Hasina's rule, Bangladesh's relationship with India flourished. She is currently exiled in India, which has created disputes with Bangladesh's new government, particularly after it officially filed for her extradition in February. Analysts say that China is keen to fill this vacuum, which may explain the charm offensive with Yunus. In terms of drawing in foreign investment, Bangladesh is focused on making it a smoother process. It is currently working on merging its five regional investment promotion agencies into one centre that will help streamline foreign direct investment. The move comes after investors highlighted that having so many organisations was an obstacle to doing business in the country. "Chinese companies to invest in Bangladesh as ties strengthen" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
