Wafer manufacturer Gaoce Technology has announced that it has produced its first 50 µm ultra-thin wafer at its manufacturing base in Yibin, Sichuan Province. The company highlighted the wafer's superior flexibility, which is well-suited to the requirements of flexible HJT cells. Gaoce attributed this milestone to the closed-loop technical advantages of its ‘Equipment + Consumables + Process’ strategy. The company says it has significantly reduced silicon material loss by synergizing upgrades in in-house slicing equipment and diamond wires, and by utilizing AI models to optimize cutting parameters.
At Intersolar Europe 2025, Gaoce provided TaiyangNews an exclusive insight into its end-to-end wafer cutting solutions (see Behind The Wafer: Gaoce’s Role In PV Ingot-To-Wafer Processing).
Solar cell equipment Maxwell announced that its G12H perovskite/silicon HJT tandem solar cell, developed using proprietary mass-production equipment and processes, achieved a power conversion efficiency of 32.38% certified by the China National Institute of Metrology (NIM). The company stated that this achievement integrates core turnkey technologies, including PECVD, PVD, ALD, and inkjet printing, demonstrating the viability of its equipment and processes for large-scale mass production.
Separately, Maxwell, in collaboration with Soochow University and other institutions, published a paper in Nature detailing a flexible tandem cell with 33.6% efficiency, overcoming challenges of flexibility and stability. Another study published in Advanced Materials revealed the company’s success in solving the industry-wide challenge of achieving high-quality conformal deposition of perovskite layers on fully textured silicon substrates via low-cost solution processes, achieved through synergistic optimization of perovskite composition and tunnel recombination junction structures.
In H1 2025, Maxwell announced plans to issue convertible corporate bonds to raise RMB 1.967 billion to fund its ‘Perovskite Tandem Solar Cell Equipment Industrialization Project’ (see China Solar PV News Snippets).
The Guizhou Provincial Development and Reform Commission has issued a notice initiating an electricity price auction for renewable energy projects scheduled to commence operation between June 1 and December 31, 2025. The total mechanism electricity volume for this round is 4.82 billion kWh, with solar PV accounting for 2.59 billion kWh. The bidding price ceiling for both wind and solar power is set at RMB 0.3515/kWh. The price floor is set at RMB 0.19/kWh for wind power and RMB 0.25/kWh for solar PV. The awarded prices will remain effective for a period of 12 years.
Leading integrated solar manufacturer Tongwei released its FY2025 financial results forecast, projecting an adjusted net loss of RMB 9.0 billion to RMB 10.0 billion, which is a widening of RMB 2.0 billion to RMB 3.0 billion compared to 2024. According to the company, the deficit is primarily driven by persistent low prices across the supply chain, rising raw material costs, and industry supply-demand imbalances. It added that, despite a drop in both volume and price in the polysilicon business, the segment achieved operating profit in H2 2025 thanks to its cost reduction and process optimization efforts, narrowing its full-year loss by approximately RMB 600 million year-over-year (YoY).
In December 2025, China’s Ministry of Industry and Information Technology (MIIT) selected Tongwei’s Advanced Photovoltaic Device Pilot Test Platform as a national-level manufacturing pilot test platform (see China Solar PV News Snippets).
As part of its FY2025 performance forecast, JinkoSolar estimates an adjusted net loss of RMB 6.7 billion to RMB 7.8 billion for the year, a significant increase compared to the RMB 932.30 million loss recorded in 2024. The company attributes this shift in performance mainly to severe price fluctuations in the global supply chain and to overseas trade protection policies, which kept module prices low. Additionally, the proportion of high-power product shipments remains to be improved.
The company noted the launch of its new generation Tiger Neo 3 high-efficiency modules in 2025 and highlighted rapid growth in its energy storage business, creating solar-storage synergies. Looking ahead to 2026, JinkoSolar expects the industry supply-demand imbalance to improve as the year progresses.