Xinte Energy issues Q1 profit warning as polysilicon ASPs continue to decline

Facebook
Twitter
LinkedIn
Reddit
Email
Xinte said that its first quarter 2019 gross profit would be in the range of RMB 80.88 million to RMB 101.11 million (US$12.05 million - US$15.7 million), a decrease of approximately 75% to 80%, compared with approximately RMB 404.42 million (US$60.2 million) in gross profit reported in the prior year period. Image: Xinte Energy Co

Major China-based polysilicon producer and PV project developer, Xinte Energy Co has issued a profit warning for the first quarter of 2019, due to further polysilicon price declines. Xinte is a subsidiary of TBEA Co.

Xinte said that its first quarter 2019 gross profit would be in the range of RMB 80.88 million to RMB 101.11 million (US$12.05 million – US$15.7 million), a decrease of approximately 75% to 80%, compared with approximately RMB 404.42 million (US$60.2 million) in gross profit reported in the prior year period. 
 
The company had recently reported 2018 annual gross profit of RMB 1,038.99 million (US$154.8 million), a 26.31% decline from 2017, which was said to be related polysilicon ASP declines.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Polysilicon production segment revenue in 2018, declined slightly (3.19%), despite added capacity, to RMB 3,351.95 million, due to ASP declines.

Polysilicon production segment revenue in 2018, declined slightly (3.19%), despite added capacity, to RMB 3,351.95 million, due to ASP declines.

According to Xinte, average polysilicon ASPs in the first quarter of 2018 were approximately RMB 75,600/ton, representing a 44.62% decline, compared with an average ASP of RMB 136,500/ton (tax inclusive) in the prior year quarter. 

In 2018, Xinte achieved polysilicon production output of 34,000MT, representing an increase of 15.65% over the previous year. Nameplate capacity was expected to have reached 37,800MT at the end of 2018. 

However, like several other China-based polysilicon producers, new capacity is expected to ramp in 2019. Xinte had said in its 2018 annual report that its new 36,000MT production project would be completed and start ramping by the end of the first quarter of 2019, serving the high-quality monocrystalline silicon and semiconductor markets. 

In 2018, Xinte achieved polysilicon production output of 34,000MT, representing an increase of 15.65% over the previous year. Nameplate capacity was expected to have reached 37,800MT at the end of 2018.

According to the China Nonferrous Metals Industry Association (CNMIA), global polysilicon production capacity reached 598,000MT in 2018. Nameplate production capacity in China had reached 388,700MT in 2018, while actual production had reached 259,000MT. 

As a direct result of the China’s 531 New Deal, domestic polysilicon demand declined significantly, pushing polysilicon prices to an historic low. 

CNMIA had said that polysilicon prices in 2018 had started at around RMB 153,000 per ton, ending the year at RMB 76,000 per ton, a 50.30% decline. 

The capacity expansions at Xinte are primarily due to having signed long-term polysilicon supply agreements with LONGi Green Energy Technology (91,000mt) and Beijing Jingyuntong Technology (JYT) (32,000MT) from 2019 to 2021. Both companies are supplying to rapidly growing high-efficiency mono wafer market. 

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

July 11, 2025
Renewable electricity generation has grown more than twice as fast as total global electricity generation since 2012, according to the International Renewable Energy Agency (IRENA).
July 11, 2025
The Asia Pacific (APAC) region has accounted for 69% of the 589GW solar PV inverters shipped in 2024, according to a report from analyst Wood Mackenzie.
Premium
July 11, 2025
According to the latest pricing data from the Silicon Industry Branch, released on 9 July, the transaction price range for n-type dense polysilicon has oscillated between RMB34,000-38,000/ton (US$4,741-5,299/ton).
July 8, 2025
The Chinese government has moved to curb excessive competition in the PV sector and stabilise pricing as companies report growing losses.
July 7, 2025
The board of REC Silicon is running out of time on a buyout offer by Korean conglomerate Hanwha previously dismissed as "lowball".
July 7, 2025
Chinese energy giant China Petroleum and Chemical Corporation, also known as Sinopec, has commenced operations at a 7.5MW offshore floating PV plant in China.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK