On January 13, EGING PV (SH:600537) disclosed in its *2025 Annual Performance Pre-Loss Announcement* that, due to cyclical fluctuations in the photovoltaic industry, the company has currently halted production at its 3 GW PERC cell capacity in the Changzhou base and its 7.5 GW TOPCon cell capacity in the Chuzhou base. In 2025, the utilization rate of the company’s module production capacity was approximately 35%.
The announcement indicates that, as of the disclosure date, EGING PV possesses 3 GW of PERC cell capacity, 7.5 GW of TOPCon cell capacity, and 9.5 GW of module capacity.
The announcement further clarifies that EGING PV’s in-house cell production primarily supports its module manufacturing. The halt in cell production will not affect the normal operation of the company’s business, as it can meet the demand for cells in module orders through market-based procurement. Therefore, the suspension of cell production is not expected to have a significant impact on the company’s operational performance or financial condition. Should market conditions improve, EGING PV will resume production and operation of the aforementioned capacities as soon as possible.
