The China Nonferrous Metals Industry Association said China’s polysilicon prices remained stable this week on limited trading, but softening quotes from major producers signaled likely declines ahead. Mainstream spot prices ranged from CNY 40 ($5.47)/kg to CNY 42/kg, while domestic granular silicon sold for CNY 37/kg to CNY 39/kg. April production is expected to exceed 100,000 metric tons, raising oversupply concerns. The wafer market showed signs of disorder as prices faced pushback and end-market demand weakened earlier than expected following a recent earthquake. M10-183N wafers were quoted at CNY 1.25 to 1.28 per piece, G12R at CNY 1.50 to 1.55, and G12N at CNY 1.55 to 1.60. Wafer output is projected to rise significantly. P-type M10 cells held steady at CNY 0.31/W, but demand is expected to taper following India’s fiscal year-end. N-type M10, G12R, and G12 cells ranged from CNY 0.305 to 0.34/W, with analysts predicting that cell production will climb this month. Module prices continued to soften, with distributed generation project modules averaging CNY 0.745/W. Utility-scale project pricing held at around CNY 0.70/W, though some estimates put post-May prices at CNY 0.65 to 0.68/W. Export prices were mostly flat. TOPCon modules came in at an average of $0.08/W to $0.10/W, heterojunction (HJT) at $0.095/W to $0.12/W, passivated emitter and rear cell (PERC) at $0.07/W to $0.08/W, and n-type BC modules $0.10/W to $0.11/W
First PV Material said its 2024 revenue fell 15.2% year over year to CNY 19.15 billion, while net profit declined 29.3% to CNY 1.31 billion. The company attributed the drop to continued declines in solar module prices, volatility in the cost of ethylene-vinyl acetate (EVA) resin, and intensifying overseas competition that pressured margins. It said it plans to increase the share of its next-generation polyolefin elastomer (POE) film products to 35% of output and expand manufacturing capacity abroad.
Sungrow has announced a planned share buyback valued between CNY 300 million and CNY 600 million. The repurchased A-shares will be allocated to employee stock ownership or equity incentive schemes. The company said it will fund the buyback using its own or self-raised capital.
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