Shanghai, Feb 1, 2026, 09:15 GMT+8 — The market has closed.
China’s LONGi Green Energy Technology Co., Ltd. Class A shares (601012.SS) dropped 4.74% on Friday, closing at 17.88 yuan after swinging between 18.82 and 17.71. Trading volume hit 291.7 million shares. Peer stocks Tongwei Co., Ltd and Jinko Solar Co., Ltd. slid 4.51% and 6.08%, according to MarketScreener data. (MarketScreener)
This matters because LONGi is a key player near the heart of China’s solar supply chain, and its stock usually sets the pace for the sector. As markets reopen Monday, investors will be watching for signs the decline is stabilizing rather than continuing downward.
In a Jan. 19 exchange filing, the company projected a net loss between 6.0 billion and 6.5 billion yuan for 2025, with losses widening to 6.8 billion to 7.4 billion yuan when excluding one-offs. It pointed to supply-demand imbalances, fierce price competition, and low capacity utilization as key challenges. The company also highlighted pressures from domestic power-market reforms, increased trade barriers abroad, and a late-year spike in silver paste and polysilicon prices.
Policy remains a key concern. The Ministry of Finance of the People’s Republic of China announced that starting April 1, it will eliminate value-added tax export rebates—refunds given to exporters—on photovoltaic products. This was confirmed in a joint statement with the State Taxation Administration of the People’s Republic of China. According to the China Photovoltaic Industry Association, the move aims to “promote a rational return of foreign market prices and reduce the risk of trade frictions.” (Reuters)
The broader market showed weakness as the Shanghai Composite closed at 4,117.95, slipping 0.96% on Friday. (Shanghai Stock Exchange)
Input costs are back under scrutiny following a steep drop in precious metals. Silver, essential for conductive paste in solar cells, plunged roughly 11% on Friday after setting record highs just the day before. Alice Fox from Macquarie Group warned prices will probably stay “high and volatile” as investment funds continue pouring in. (Reuters)
Investors are turning to the audited annual report for clearer figures and updated guidance. Under China Securities Regulatory Commission rules, listed companies must release annual reports within four months after the fiscal year closes, setting the deadline at the end of April. (Csrc)
Traders will be focused this week on whether solar stocks continue to follow broad macro risk trends or break away based on company-specific news. New guidance from manufacturers and suppliers could shift sentiment sharply.
The downside remains clear: more price cuts, sluggish demand abroad, or fresh trade barriers could hold the group back, even if raw-material costs drop. Changes to export rebates might also shift order timing, boosting demand now but softening it down the line.
April 1 is the next key date to watch, marking the scheduled end of the export VAT rebate on photovoltaic products.
