photovoltaic down, industry reshuffle, still have enterprises to make money in 2025.
Up to now, about half of the listed photovoltaic companies have released their 2025 financial reports. According to Black Hawk PV statistics, as shown in the table below, 33 PV listed companies achieved profitability in fiscal year 2025. The accumulated net profit of 33 photovoltaic enterprises reached 33.378 billion yuan.
Among them, the industry knows that Sunshine Power has become the most profitable company in the industry. The net profit of this optical storage leader reached 13.461 billion yuan in 2025, up 21.97 percent year on year. Its comprehensive gross profit margin was 31.83 percent, up 1.89 percent year on year.
In addition, in fiscal year 2025, Three Gorges Energy achieved the 3.669 billion net profit, ranking second. What is quite interesting is that Deye shares achieved a net profit of 3.171 billion billion yuan, up 7.11 year on year against the trend. Subsequently, Hengdian Dongdi and Pilot Intelligence achieved net profits of $1.851 billion and $1.564 billion, respectively. Industry leader Artes 1.021 billion net profit, down 54.56 per cent year-on-year.
On the whole, although they have made money, the net profit of nearly half of the enterprises has declined year-on-year, which shows the tragic reshuffle of the enterprise industry and the great pressure of enterprise operation. Attached is a statistical ranking of the overall profits of all photovoltaic listed companies over the past five years.
