Eging PV has reported its steepest annual loss on record in 2024, posting a net loss of CNY 2.09 billion ($288 million), compared with a modest profit a year earlier. Revenues dropped 57.07% year-on-year to CNY 3.478 billion ($479 million). The company attributed the downturn to severe market pressures and significant operational setbacks. Production at its 5 GW PERC cell facility in Changzhou and 7.5 GW TOPCon cell facility in Chuzhou has been fully halted. Its 10 GW module production line runs below 40% capacity. In 2024, the company produced 4.14 GW of PV modules and sold 3.72 GW, down 25.6% and 32.05%, respectively, year-on-year. Self-produced solar cell output plummeted 67.46% to 1.67 GW, while sales dropped 35.8% to just 138.39 MW. As of the end of Q1 2025, Eging’s cash reserves stood at CNY 1.049 billion ($145 million), while interest-bearing liabilities rose to CNY 2.552 billion ($352 million). Its current ratio fell to 0.99, signaling tightening liquidity. The company aims to maintain 2025 module shipments at levels similar to those in 2024.

State Grid Corp. of China has unveiled a domestically developed control system designed to operate large-scale power grids with high penetration of renewables. The system will integrate more than 60,000 substations and hundreds of thousands of new energy generation units across State Grid’s service area. It is capable of dynamically managing up to 360 GW of renewable power in a single day and is designed to support an eventual renewable installed capacity of 1.41 TW, with a utilization rate of up to 96.1%. The system integrates a decade of technical development by leading global research teams and marks breakthroughs in electromagnetic transient simulation, multi-temporal-spatial optimization, and full-system fault defense. State Grid says it enables real-time coordination across generation, transmission, consumption, and storage.

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