Tongwei Co Ltd Class A

600438: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Chinese Solar Producers Extend Losses Amid Industry Overcapacity

Cheng Wang

May 6, 2026

The Chinese solar producers under our coverage—Jinko Solar, LONGi, JA Solar, Trina Solar, TCL Zhonghuan, Tongwei, and Daqo—remained loss-making through 2025 and into the first quarter of 2026.

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Tongwei Co Ltd Class A

Chinese Solar Producers Extend Losses Amid Industry Overcapacity

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