On 16 June 2025, the China Enterprise Bankruptcy and Reorganization Case Information Network published a notice regarding creditor claims for the pre-restructuring of the Wuxi Suntech Solar Power Company, together with a ruling from the Xinwu District People’s Court of Wuxi City.
Two months earlier, on 27 April 2025, the applicant and copper ribbon manufacturer, the Wuxi Sveck Technology Company, petitioned the court to transfer Suntech’s case from enforcement proceedings to bankruptcy review and requested pre-restructuring of Suntech, citing insufficient assets for execution. Upon receipt of the application, the Wuxi court notified Suntech.
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On 26 May 2025, Suntech filed a written application to the court, stating that owing to poor management, the company was unable to repay its outstanding debts. However, Suntech described itself as a pioneer in the PV industry with strong brand recognition, high market acceptance and promising industry prospects, including potential investors, arguing that it had the requisite value and conditions for pre-restructuring. The company sought an in-court restructuring contingent based on the success of out-of-court negotiations.
The same day, the Xinwu District People’s Court of Wuxi rendered a decision approving the pre-restructuring of Suntech, and issued an “Order on Appointment of pre-restructuring Administrators”, designating Beijing Zhide Law Firm and Jiangsu Manxiu (Wuxi) Law Firm as joint pre-restructuring administrators.
Suntech was once one of the world’s largest PV module manufacturers and a trailblazer among China’s first-generation solar enterprises. Founded by Shi Zhengrong, it topped global PV module shipment rankings at its peak. In 2013, owing to a debt crisis, Suntech underwent bankruptcy restructuring and was acquired by Shunfeng Photovoltaic. Following the acquisition, it remained focused on research and development and the production of solar cells and modules.
During this period, the company underwent multiple management reshuffles. With the departure of a large number of senior executives and compounded with shifting market cycles, Suntech gradually lost its competitive edge among PV manufacturers.
The most recent leadership transition at Suntech was the departure of former chairman Wu Fei; in April 2025, Huang Chang of the Xiamen C&D Group succeeded Wu Fei as chairman of Suntech.
