A growing number of Chinese solar manufacturers are facing bankruptcy due to overcapacity and plummeting prices, highlighting the challenges facing the world's dominant solar panel producer.
A growing number of Chinese solar manufacturers are going into bankruptcy or restructuring on a deepening product glut that has led to a massive price slump. According to a Bloomberg report, two companies have entered some form of bankruptcy proceedings since the start of this month alone. These are both relatively small sector players, with more limited resources to weather the oversupply storm.
One of the companies that declared bankruptcy after a court ordered it to begin reorganization has been reporting net losses since 2019, the report said. The Chinese solar manufacturing industry’s growth has been fast and furious, turning the country into the dominant player in that field globally. To date, China controls as much as 80% of the global solar panel supply change.
China Overcapacity Bankruptcy Price War Longi Green Energy Solar Panels Industry Crisis Consolidation Financial Crisis
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