China Railway Construction Corp. said its IT arm announced the preliminary winners of its 2025 solar module framework procurement. Ten companies were shortlisted, including major players such as Longi, JinkoSolar, Trina Solar, Tongwei, JA Solar, Chint, and GCL SI. The contract covers the supply of 3 GW of n-type monocrystalline bifacial TOPCon modules, with each contract expected to be fulfilled within 170 days of signing.

Hangzhou First Applied Material has issued a profit warning for the first half of 2025, projecting net profit attributable to shareholders of approximately CNY 473 million ($65.2 million), down 49.05% year on year. The company said intensified competition and industry-wide overcapacity drove a decline in both procurement prices for photovoltaic resin and selling prices for PV encapsulation films. However, the drop in film prices outpaced raw material costs, causing a 46.72% fall in gross profit.

TCL Zhonghuan has released a preliminary earnings report forecasting a net loss between CNY 4 billion and CNY 4.5 billion for the first half of 2025. The company attributed the expected loss to falling product prices and inventory writedowns, highlighting financial strain caused by persistent oversupply in the solar supply chain.

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