中国太阳能光电行业上半年陷入困境。今年上半年中国新增太阳能光电装机72.07GW，与上年同期相比下滑约66%[1]。行业整体业绩惨淡，共有21家已披露半年报预告的太阳能光电上市公司预计亏损130至168亿元[1]。其中，隆基绿能、通威股份、TCL中环三家龙头企业预计亏损超过100亿元[1]，TCL中环的预计归母净利润为负33亿元至负30亿元[1]。
导致行业亏损的主要原因是多重压力叠加。隆基绿能表示，光伏行业供需关系未有显著改善，公司组件销量和收入同比下降，开工率不足，毛利率较低[1]。通威股份也指出，行业整体供需失衡格局尚未根本性改善，各环节产品价格维持低迷[1]。前中国光伏行业协会秘书长王勃华进一步分析认为，太阳能光电产业面临供需失衡、需求萎缩与贸易壁垒加码的三重挤压[1]。
China's photovoltaic sector has contracted sharply in the first half of 2026, with newly installed solar capacity plummeting approximately 66 percent year-over-year to 72.07 gigawatts [1]. Three industry leaders—Longi Green Energy, Tongwei, and TCL Zhonghuan—are each projected to post losses exceeding 10 billion yuan, while twenty-one listed solar companies collectively anticipate losses between 13 billion and 16.8 billion yuan [1].
Longi Green Energy attributed declining module sales and revenues to unimproved supply-demand dynamics, insufficient production capacity utilization, and eroding profit margins [1]. Tongwei similarly cited persistent oversupply across all production segments, with product prices remaining depressed throughout the industry [1]. TCL Zhonghuan alone faces projected losses of between 3 billion and 3.3 billion yuan [1].
Analysts, including Wang Bohua, former secretary-general of the China Photovoltaic Industry Association, identified a "triple squeeze" facing the sector: supply-demand imbalance, contracting market demand, and intensifying trade barriers [1].