Longi Green Energy Technology Co. said its net loss widened in the first quarter, reflecting continued strain in the solar sector despite an increase in module pricing.
In a filing to the Shanghai Stock Exchange, the Chinese solar manufacturer reported a net loss of 1.92 billion yuan for the three months ended in March, up from a loss of 1.43 billion yuan in the same quarter a year earlier. The company’s quarterly results come amid an industry grappling with excess production capacity.
Module prices rose by 15% to 20% during the quarter, a jump the company linked to higher silver costs, according to Bloomberg Intelligence. That increase did not prevent Longi from recording a larger quarterly loss, underlining the limits of pricing moves in offsetting sectorwide pressures.
Export activity in the wider Chinese solar supply chain remained strong. Chinese exports of solar cells increased 38% in the first quarter compared with the same period a year earlier, and shipments surged 80% in March following the outbreak of the Iran war.
In a separate regulatory filing, Longi reported its net loss for 2025 was 6.4 billion yuan, an improvement from a loss of 8.6 billion yuan the previous year. The company said the industry is in a deep adjustment phase, noting that operations continue to face pressure from weak product prices, low utilization rates, and rising raw material costs including polysilicon and silver paste in the fourth quarter.
The filings present a mixed picture: improving annual figures alongside a worsening quarterly result, with management attributing ongoing strain to structural industry factors rather than a single operational failure. The combination of higher raw material costs and underutilized capacity appears to have offset the positive movement in module pricing for the most recent quarter.
Investors and market participants tracking the renewable energy and materials segments will likely monitor whether price gains for modules sustain and if utilization rates recover enough to translate price improvements into consistent profitability.