Chinese PV manufacturers Tongwei, JA, Longi and Trina Solar have all forecast losses for the first half of 2026, citing ongoing oversupply, weak demand and sustained pressure across the solar supply chain.
Tongwei expects a first-half 2026 net loss attributable to shareholders of CNY 4.8 billion to CNY 5.4 billion ($706 million to $794 million). Net loss after non-recurring items is also expected to fall within the same range. The company reported a net loss of CNY 4.96 billion ($729 million) in the same period last year. Tongwei said the anticipated loss was mainly due to persistent supply-demand imbalances in the PV industry and continued pressure on product prices. The figures are preliminary and remain subject to confirmation in the company’s interim report.
JA expects a first-half 2026 net loss attributable to shareholders of CNY 2.4 billion to CNY 2.9 billion ($353 million to $426 million), compared with a net loss of CNY 2.58 billion ($379 million) in the first half of 2025. The company expects net loss after non-recurring items of CNY 2.75 billion to CNY 3.25 billion ($404 million to $478 million), compared with CNY 2.29 billion ($336 million) a year earlier. Basic loss per share is expected at CNY 0.73 to CNY 0.89 ($0.11 to $0.13). The companysaid its module business remained loss-making due to continued supply-demand imbalances across the PV value chain, intensified market competition, additional tax costs following the removal of export tax rebates and rising international trade tensions. The company also cited logistics disruptions linked to geopolitical conflicts and performance claims related to certain overseas orders.
