On July 26, Freanch issued a notice on the suspension of production and closure of its holding subsidiary . The
content of the announcement shows that, in view of the current competitive environment in the photovoltaic industry and the current situation of poor sales and continuous losses of Freanch (Jiaxing) New Materials Co., Ltd. In order to fit in with the strategic development direction and reduce operating costs, the company has decided to shut down the Jiaxing factory recently.
Freanant said that because Jiaxing New Materials is currently in a loss state, it is difficult to turn around the loss in a short time, the shutdown of Jiaxing New Materials will reduce the company's operating losses and reduce its negative impact on the company's performance, and the business of Jiaxing New Materials is not the company's main business. Therefore, the suspension of production and business will not adversely affect the company's normal production and operation activities and the ability to continue to operate. According to
the data, Jiaxing New Material was established on July 24, 2023, and realized business income of 50.2813 million yuan and net profit loss of 41.14 million yuan in 2024; From January to March 2025, the Company achieved a revenue of 840,700 yuan and a net profit loss of 1,820,800 yuan .
It is noteworthy that as early as December 31, 2024, Freanch announced a temporary shutdown of Jiaxing New Materials , saying that the company will decide whether Jiaxing New Materials will resume production and operation according to market conditions. On the evening of November 28,
2024, Fleant announced the closure of its holding company, Fleant New Energy. According to the semi-annual report of 2024, by the end of June 2024, Fleant New Energy had 10 production lines . The production capacity of photovoltaic film is about 4 million square meters per month .
As of the date of the announcement, the two holding companies of Freixant have stopped production and closed down .
According to the Digital New Energy DataBM. Com, in addition to Freanch, two photovoltaic film companies have recently announced the postponement or termination of the project since 2025. On July 16,
2025, Haiyou New Material announced the termination of the "photovoltaic packaging film project with an annual output of 200 million square meters (Phase I)". Haiyou New Material has announced the extension of the project from March 2024 to September 2025. (For details, see: Termination after Extension! Another photovoltaic project "broken halberd"!) On 27 May
2025, Tianyang New Material announced that its Nantong Tianyang Photovoltaic Material Technology Co., Ltd. Haian Tianyang New Material Technology Co., Ltd. has postponed its new photovoltaic film project with an annual output of 150 million square meters from June 2025 to June 2026. (For details, see: Two major photovoltaic projects in Jiangsu are postponed again due to their ill-fated fate)