Chinese PV Industry Brief: Polysilicon prices extend decline

<p class="p1"><span class="s1">State-owned energy developer CECEP has raised CNY 2.95 billion ($431.8 million) for PV and storage projects, while China’s metals industry association says polysilicon prices have fallen for a seventh straight week.</span></p><p><strong>China Energy Conservation and Environmental Protection Group</strong> (CECEP) has issued 29.5 million convertible bonds at CNY 100.00 per bond, raising a total of CNY 2.95 billion. The funds will be used to build six PV power plants and associated energy storage projects with a combined capacity of 900 MW. Total investment in the projects is estimated at CNY 4.566 billion.</p>
<p><strong>Zhejiang Chint Electrics</strong> has approved the appointment of Tianjian International Certified Public Accountants as the auditing institution for its planned H-share issuance and listing on the main board of the Hong Kong Stock Exchange. The company has said it is pursuing the listing to accelerate international expansion and broaden financing channels.</p>
<p><strong>DKEM</strong> has reported a net loss of CNY 276 million in its 2025 annual report, representing a year-on-year decline of 176.8%. The silver paste manufacturer said PV conductive paste shipments totaled 1,829.16 metric tons (MT), slightly below JH Materials’ 1,867 MT, resulting in the loss of its leading market position. The company said non-recurring losses exceeded CNY 400 million, including more than CNY 600 million linked to financial assets and liabilities, and attributed the losses to hedging through silver futures, silver leasing operations, and exchange rate fluctuations.</p>
<p><strong>China General Nuclear Power Group</strong> (CGN) has connected the first phase of the 1 GW Lao Northern Interconnection Clean Energy Base PV project to the grid in Oudomxay province, Laos. The project is expected to generate around 1.65 TWh of electricity per year and annually reduce carbon dioxide emissions by approximately 1.3 million MT per year.</p>
<p><strong>Longi Green Energy</strong> and Huawei Digital Power have signed a strategic cooperation agreement covering energy storage system integration, intelligent string power conversion system technologies, and large-scale renewable energy base solutions.</p>
<p><strong>The China Nonferrous Metals Industry Association</strong> (CNMIA) said polysilicon prices have declined for a seventh consecutive week. Average transaction prices for N-type re-feed polysilicon fell to CNY 36,000/MT, down 1.37% week on week, while n-type granular polysilicon averaged CNY 35,000/MT, down 4.11%. The association attributed the decline to ongoing supply-demand imbalances, with inventories continuing to grow faster than demand.</p>