Tongwei stock: Nine-month loss widens as solar revenue falls

Published on 11/11/2026 at 03:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Tongwei stock draws investor focus after the solar maker reported a wider nine-month loss. Quarterly losses narrowed, but weak profitability remains central.

What investors should watch

Tongwei's nine-month revenue declined as the company remained exposed to weak solar-market conditions.
The third-quarter loss narrowed from the previous quarter, while operating cash flow stayed positive for the nine-month period.
Polysilicon prices, industry capacity and demand will remain central to the recovery outlook.

Tongwei, CNE000001GS3, Illustration mit AI erstellt.

Tongwei reported a wider loss for the first nine months of 2026, highlighting the continuing pressure on China's solar industry. In a report published on November 6, pv magazine said Tongwei's third-quarter financial results were released on October 30.

Losses remain the central issue

Revenue for the nine-month period fell 9.69 percent year on year to CNY 58.337 billion. Net loss attributable to shareholders widened to CNY 6.759 billion from about CNY 5.27 billion a year earlier. The loss excluding nonrecurring items reached CNY 6.868 billion, pointing to continued pressure in the underlying business.

There was a more constructive quarterly signal. Third-quarter revenue reached CNY 23.98 billion, down 0.46 percent year on year, while the quarterly net loss narrowed to CNY 1.639 billion from CNY 2.675 billion in the second quarter. Operating cash flow totaled CNY 2.024 billion for the first nine months.

Solar oversupply weighs on recovery

Tongwei's results reflect the difficult conditions across Chinese photovoltaic manufacturing. Weak polysilicon prices and excess production capacity continue to pressure margins, while the industry is trying to reduce supply and rebuild profitability. For investors, the quarterly improvement matters, but it has not yet offset the larger nine-month deficit.

Tongwei's business and competitors

Tongwei, headquartered in Chengdu, China, operates across green agriculture and green energy. Its main activities include aquaculture feed, high-purity polysilicon, solar cells, modules and photovoltaic power projects, giving it a vertically integrated position in the solar value chain. In photovoltaic manufacturing, it competes with LONGi, JA Solar and Jinko Solar and is among the major Chinese producers covered in the industry results. Its combination of upstream polysilicon and downstream solar manufacturing leaves earnings sensitive to both material prices and module demand.