SNEC 2025 exposes financial strain and price pressure in PV sector

Infolink Consulting, a Taiwan-based solar industry research firm, reported weak market sentiment at the 18th SNEC PV+ Expo held in Shanghai. The event saw reduced participation as manufacturers cut spending following two consecutive years of financial losses. Infolink Consulting stated that persistent oversupply and a lack of coordinated production cuts continue to depress prices across all segments. Polysilicon prices remained at RMB 35 to 36 (~ $4.90 to 5.04) per kg, with some deals falling below RMB 35 (~ $4.90) maper kg. Wafer inventories have increased to 20 to 23 GW, while module stock levels cover up to 1.8 months. Infolink Consulting noted that although China’s first-half PV demand exceeded expectations, short-term orders have already declined for July and August. Infolink Consulting expects prices to remain stagnant in the second half of 2025.