Major Chinese solar manufacturers report losses in H1 2024 due to increased competition
- Admin
- Jul 11, 2024
- 1 min read
The article discusses the financial results of Chinese solar manufacturers, LONGi, Tongwei, and Aiko Solar, reporting losses in the first half of 2024 due to increased competition in the solar PV industry. LONGi recorded a net loss of up to RMB5.5 billion, Tongwei registered a net loss between RMB3 billion and RMB 3.3 billion, and Aiko Solar expected a net loss between RMB1.4 billion and RMB2 billion. These companies attributed the losses to competitive market conditions, price drops, and inventory write-downs. LONGi plans to increase product supply in the fourth quarter of 2024 by focusing on back-contact (BC) technology. Furthermore, Aiko Solar was sued by Maxeon Solar Technologies for patent infringement.
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