On December 29, Yijing Optoelectronics announced that. Recently, the company received a notice of hearing from the Management Committee of Quanjiao Economic Development Zone, Chuzhou City, Anhui Province, to make an administrative decision on the company and its subsidiaries, Changzhou Yijing Photoelectric Technology Co., Ltd. (Hereinafter referred to as "Changzhou Yijing") and Chuzhou Yijing Photoelectric Technology Co., Ltd. (Hereinafter referred to as "Chuzhou Yijing") .
The hearing was mainly related to the annual output of 10GW photovoltaic cells, 10GW photovoltaic slices and 10GW September 22," which were built by Yijing Optoelectronics in Quanjiao County. Yijing Optoelectronics announced that it planned to build the above-mentioned " in the Economic Development Zone of Quanjiao County. According to the announcement at that time, the first phase of the project was originally planned to start in October 2022, complete in April 2023, and put into operation within three months after completion and acceptance.
In fact, the project started in November 2022 and began to be put into operation in July 2023. According to the announcement on December 29, Yijing Optoelectronics has only landed 7% of the first phase of the battery project.
In addition, since October 2024, the Chuzhou base of Yijing Optoelectronics has been shut down .
Therefore, Quanjiao Jingkai District Management Committee considered that Yijing Optoelectronics failed to fully implement the relevant agreements in the early stage, resulting in the project unable to advance on schedule and the early agreement unable to be fulfilled, so it issued a hearing notice to the company. Proposed termination of investment agreements and supplementary agreements, recovery 1.
"Fall out"
in addition to Yijing Optoelectronics, * ST Mubang also asked to return the previous government subsidies.
On December 20, * ST Mubang announced that the company's 10GW TOPCon battery project in Wuzhou, Guangxi, had not been put into production for a long time. The Company and its holding subsidiary Guangxi Mubang Hi-Tech New Energy Co., Ltd. were required by Wuzhou Municipal People's Government to return a total of 510 million yuan of financial subsidies and support funds (for details, please click: that in addition, many photovoltaic enterprises such as Bangjie Stock, * ST Cloud Network, Beijing Express, Baoxin Science and Technology have also" turned against "local state-owned shareholders.
On December 5, Bangjie shares received the "Notification Letter" from the creditor, Suzhou Huanxiuhu Chasing Light Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Huanxiuhu Chasing Light"), which was issued on the grounds that Bangjie shares could not pay off the debts due and the assets were insufficient to pay off all the debts, but had the value of reorganization. The application materials for the pre-reorganization of the company were submitted to the Jinhua Intermediate People's Court of Zhejiang Province.
Earlier, on March 13, Bangjie announced that Huanxiuhu Chasing Light required the company to buy back its shares in Bangjie New Energy, and the repurchase price was expected to be no less than 3. In addition to Huanxiuhu Chasing Light, Quzhou Xinlian New Energy Equity Investment Partnership (Limited Partnership) also required Bangjie to buy back its shares in the joint venture company. The repurchase price is not less than 90 million yuan.
On December 3, * ST Yunwang announced that Yangzhou Kechuang Industrial Investment Fund (Limited Partnership) had filed a lawsuit against China Keyun (Gaoyou) New Energy Technology Co., Ltd., the company and Chen Ji, the actual controller, in the case of disputes over convertible creditor's rights investment agreement and repayment agreement. Request the court to order Zhongke Gaoyou to pay the principal, interest and penalty of the loan, and the company and the actual controller Chen Ji are jointly and severally liable for liquidation. The amount involved in the case amounted to 47.01 million yuan.
On July 5, Beijing Express announced that due to contract disputes, Wuhai Haibowan District Urban Construction Investment and Financing Co., Ltd. filed a lawsuit against the company and its wholly-owned subsidiary Wuhai Jingyuntong New Material Technology Co., Ltd. According to the announcement, the dispute was mainly caused by the construction of factories on behalf of others, and the amount involved was about 2.
In addition, according to Baoxin Science and Technology Announcement this year, since March this year, the company has been sued by Bengbu Zhongxin Investment Development Co., Ltd., Anhui Dayu Industrial Group Co., Ltd. and Etuoke Banner Chengyuan Green Energy Investment Co., Ltd.
In recent years, because of the broad prospects of the photovoltaic industry, the former photovoltaic enterprises are the "darlings" of the local government. In order to attract the layout of photovoltaic enterprises, local governments try their best to give support conditions, not only to protect land, build factories on behalf of others, subsidize funds, but also to invest in joint ventures, and various investment initiatives emerge in endlessly.
According to industry media statistics, in 2024, 124 photovoltaic listed companies received a total of 102 government subsidies .
Since the second half of 2023, the mismatch between supply and demand in the photovoltaic industry has become prominent. However, in 2025, the enthusiasm of local governments for the photovoltaic industry has not diminished. In the
first half of this year, policy documents issued by Sichuan, Gansu, Shaanxi and other places still made it clear that new photovoltaic capacity should be added.
On February 7, Sichuan Province issued the Notice on Several Measures to Support the Sustainable and Healthy Development of Photovoltaic Manufacturing Industry, which clearly strives for more production capacity indicators of photovoltaic rolled glass, promotes the layout and construction of major projects of photovoltaic modules by chain-leading enterprises, and introduces and cultivates key supporting projects such as inverters, silver paste and integrated photovoltaic storage systems.
On February 12, Gansu Province issued the Notice of the General Office of the Gansu Provincial People's Government on the Action Plan for Building an Important National New Energy and New Energy Equipment Manufacturing Base, proposing to speed up the development of new photovoltaic cells and components, new generation photovoltaic inverters and system integration equipment relying on the existing photovoltaic industry chain. Build the whole industry chain of local photovoltaic manufacturing. At the same time, "attract modern high-energy industries such as metallurgy, hydrogen production and silicon production in the central and eastern regions to land".
On April 18, Sichuan Province issued the Notice of "Sichuan New Energy Industry Chain Construction Circle and Strong Chain Work Program (2025-2027)", clarifying the photovoltaic industry chain, focusing on solving the shortage of production capacity of electronic grade polysilicon, photovoltaic glass, silver paste, crucible, battery components and other links.
On May 16, Xi'an, Shaanxi Province, issued the Implementation Plan for Xi'an to Support the Capacity Improvement of Photovoltaic Industry Chain (2025-2027). Among them, it is proposed to upgrade the scale of superior industries, "encourage leading enterprises to expand advanced production capacity such as high-performance silicon wafers and high-efficiency batteries, and promote the construction of key industrial projects." It is proposed that by 2027, the production capacity of silicon wafers and batteries will reach 120GW and 130GW respectively, the production capacity of modules will reach 10GW, and the production capacity of inverters will exceed 76GW.
On May 21, Inner Mongolia issued a draft for public consultation on the Industrial Development Plan of Baotou Equipment Manufacturing Industrial Park (2024-2035). According to the document, by the end of 2030, the park will add 120GW of monocrystalline silicon, 60GW of slices, 30GW of cells and 30GW of modules; by the end of 2035, the park will add 50GW of monocrystalline silicon, 25GW of slices, 20GW of cells and 20GW of modules.
At the same time, local governments are also vigorously attracting investment for photovoltaic projects.
According to the previous statistics of the Digital New Energy DataBM. Com, as of September 25, 86 photovoltaic investment projects have been released in six provinces (autonomous regions) of Guangxi, Sichuan, Yunnan, Gansu, Xinjiang and Shanxi since this year. The amount of investment involved is 2858. (For details, please click: " why the "guests" are sitting on the "cold reception"
as mentioned above, local governments once regarded photovoltaic enterprises as "guests", but now these "guests" are sitting on the "cold reception". Behind
this, on the one hand, the industry is rolling up, and photovoltaic enterprises are complaining incessantly. Although the second half of this year benefited from the active promotion of the "anti-involution" action, the loss of enterprises has narrowed, but since the second half of 2023, the photovoltaic industry has lost eight consecutive quarters. In this context, many photovoltaic enterprises have been difficult to be strong, and have announced the shutdown, closure and bankruptcy.
In the "Recommendations of the Central Committee of the Communist Party of China on the Formulation of the Fifteenth Five-Year Plan for National Economic and Social Development", it is also proposed to unify the basic rules of the market system, standardize the economic promotion behavior of local governments, eliminate local protection and market segmentation, comprehensively rectify the "involution" competition, and unify market supervision and law enforcement.
Nowadays, under the background that the market heat continues to fall, the industry development returns to rationality and the government investment tends to be prudent, "breaking the involution" and "capacity removal" will also be the next key task, and the speed of elimination may be accelerated. It can be predicted that there will be a number of backward, inefficient and uncompetitive photovoltaic enterprises facing elimination in the future. In this way, the "debt collection" of photovoltaic enterprises by local governments/state-owned assets will not be just an example.
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