Watch out! Project Termination, Asset Sale … More than 10 Photovoltaic Enterprises Collectively "Retreat"

In 2025, the auxiliary materials in the photovoltaic industry chain will continue to bear pressure. Taking photovoltaic quartz crucible as an example, with the market demand shrinking sharply and the price going down all the way, the performance of related enterprises ushered in a "big cooling" .

On January 24, Oujing Technologies , the main quartz crucible business, predicted that the company would continue to lose money in 2025.

According to the company's performance forecast in 2025, Oujing Technologies expects a net profit loss of 240 million yuan to 300 million yuan in 2025, which is narrower than loss of 536 million yuan in the same period last year; The estimated loss of non-net profit is 246 million yuan to 306 million yuan . The loss for the same period last year was 5.

On the same date, Quartz shares , another leading enterprise in quartz crucible business, also issued a performance forecast for 2025. Although the company did not fall into a loss, its performance declined significantly.

Quartz shares are expected to have a net profit of 138-169 million yuan in 2025, a decrease of 49.34% -58.63% over the same period last year; It is estimated that the net profit deducted from non-profits will be 66-81 million yuan, a decrease of 70.40% -75% compared with the same period last year.

Consistent with Oujing Technology, Quartz shares attributed the decline in performance to the cyclical fluctuations in the photovoltaic industry, saying that the current mismatch between supply and demand in the industry has not been substantially improved, and the photovoltaic business continues to be under pressure. Sadly

, in 2023, the quartz crucible was still a "hard-to-find" fragrant baboon in the photovoltaic industry chain, but in just two years, the former heat quickly cooled down and fell into the cold winter.

From "one is hard to find" to "one is hard to sell" data show

that solar grade quartz crucible, as a key component of photovoltaic single crystal furnace, is indispensable in the process of pulling single crystal silicon rods. Based on the purity requirements of monocrystalline silicon wafers, quartz crucibles need to be scrapped and replaced after one or several crystal pulling processes, so they are called high-frequency "consumable utensils" .

However, the purification process of high-purity quartz sand is complex and the technical barriers are high. Only a few domestic enterprises such as quartz shares can achieve mass production, and most of them still rely on imports , which foreshadows the explosion of quartz crucibles.

Looking back to 2023, under the strong outbreak of downstream photovoltaic installation demand, quartz crucible, as a key consumable affecting the quality of photovoltaic products, once fell into the tight situation of "one sand is hard to find" and "one is hard to find". The price of inner sand of high-purity quartz sand, the core raw material, soared to 400000 yuan/ton , an increase of up to 400% .

At that time, quartz crucible as the main business of quartz shares, relying on product advantages, performance in that year ushered in explosive growth, to achieve revenue of 7.184 billion yuan, an increase of 258.46%; The net profit returned to the mother was 5.039 billion yuan. Year-on-year growth of 378.

Since the second half of 2023, The photovoltaic industry has gradually entered a downward cycle. As the demand side continues to be depressed , the price of high purity quartz sand has fallen sharply. Nowadays, the average price of domestic inner high-purity quartz sand has dropped to 50000 yuan/ton , a sharp drop of more than 80%, the profit margin of quartz crucible enterprises has been greatly compressed, and the industry is getting colder and colder. Affected

by the continuous impact of the industry cycle, enterprises such as Oujing Technology and Tianyi New Material have chosen to "stop losses in time".

Among them , Oujing Science and Technology announced on January 23 that all production lines in Tianjin Ouchuan and some production lines in Yixing Ouqing, its wholly-owned subsidiary, had been suspended, and that it would decide whether to resume production according to market conditions.

Tianyi New Material announced on December 31, 2025 that it had decided to temporarily stop production of two wholly-owned subsidiaries, Tianqi Yiyang and Xinyiyang, which are mainly engaged in research and development, production and sales of photovoltaic quartz crucibles.

More than 10!

is to announce the complete withdrawal from the PV layout .".ST Lvkang , which had previously crossed the border from veterinary drugs to photovoltaic , was in order to withdraw funds and relieve operating pressure. Sold in April 2025 the Photovoltaic " in addition to the Main category is a large contraction such as Foster's announcement in December 2025 to postpone annual production 2. In addition, there are Haiyou New Materials , Lucky Film , Jinjing Technology and Tongling Stock have adopted the same contraction strategy.

One is to terminate/transform the existing production lines and invest more funds in other high-potential areas. For example , in August 2025, Saiwu Technology carried out technical renovation of the backplane coating production line, converted to other coating products, and reduced investment in the photovoltaic sector, focusing on the layout of lithium and semiconductor material tracks.

Compared with the core links such as silicon materials and silicon wafers in the main industrial chain, such auxiliary materials enterprises are often not deeply involved, neither large-scale capacity input binding, nor complex upstream and downstream supply chain constraints, business layout is more flexible, so in the downward cycle of the industry. It is easier to withdraw and transfer from it.

With the accelerated reshuffle of the photovoltaic industry in 2026, it is not difficult to predict that more photovoltaic auxiliary materials enterprises like * ST Lukang and Tianyang New Materials will choose to shrink their investment and wait for an opportunity to leave .