China’s Ministry of Commerce said it has launched a trade and investment barrier investigation into the European Union's actions regarding Chinese enterprises under the EU Foreign Subsidies Regulation and its implementing rules. The investigation follows a request from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products and will focus on four main product categories: railway locomotives, photovoltaics, wind power, and security inspection equipment. The ministry is gathering information from stakeholders through questionnaires, hearings, and on-site investigations. The investigation is set to conclude by Jan. 10, 2025, with a possible extension to April 10, 2025, under special circumstances.
Xinte Energy said it expects a loss between CNY 780 million ($96.22 million) and CNY 950 million for the six months ending June 30, 2024, compared to a CNY 4.75 billion profit in the same period last year. The company attributed the loss to the decline in the average selling price of polysilicon, despite a 50% increase in production volume and a 30% reduction in production costs. Xinte Energy noted that the polysilicon business's impact outweighed positive developments in other units, such as renewable energy projects in wind and solar, and manufacturing equipment and inverters, which saw a significant increase in shipments. The final results will be published by the end of August.
Cybrid Technologies said its 2024 half-year performance forecast predicts a net loss attributable to shareholders of between CNY 15 million and CNY 22 million for the first half of 2024. The company attributed the loss to substantial capacity release, intensified market competition, and weak demand, leading to a significant drop in both volume and price of its backsheet business. Although the sales volume of encapsulation film products remained stable, their selling prices saw a substantial year-on-year decline, also contributing to the loss.
Shanghai Electric Investment has revealed the shortlisted candidates for its first PV module procurement tender of 2024. The list includes Tongwei, Das Solar, JinkoSolar, Trina Solar, GCL Integration, Canadian Solar, Risen Energy, and JA Solar. The tender covers eight sections with a total procurement capacity up to 800 MW, requiring cell sizes of 182 mm and above. The bidding prices show the lowest price for p-type panel bids at CNY 0.76/watt, while the highest price for n-type bids is CNY 0.839/watt.
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