The Chinese photovoltaic (PV) industry is experiencing significant price declines across various segments, including polysilicon, solar wafers, cells, and modules, primarily due to weak market demand and high inventories. This week, polysilicon prices dropped, with N-type dense polysilicon averaging CNY 40,300 per ton—a decline of 1.71%—while N-type granular polysilicon decreased by 2.56% to CNY 38,000 per ton. Wafer prices also fell sharply, with G10L wafers dropping 8.2% to CNY 1.12 per piece and G12R wafers down 9.09% to CNY 1.30. The price of modules is now as low as CNY 0.68 ($0.09)/W, indicating a persistent downward trend unless market demand improves.
In financial markets, notable companies like Risen Energy and Pylon Technologies have reported significant losses, attributing them to adverse market conditions. Risen Energy reported a staggering net loss of CNY 3.44 billion for 2024 while also experiencing a 42.71% drop in revenue. Additionally, Pylon Technologies recorded a net loss of CNY 38.17 million in Q1 2025 despite a slight annual revenue increase. The company’s heavy reliance on the European residential storage market—which previously boomed during the energy crisis—has also backfired, leading to considerable revenue declines over recent years. These developments in the Chinese PV sector underscore the challenges that manufacturers and suppliers face amid a volatile market landscape.