On March 29, Xinte Energy released its annual performance announcement for 2025.
The announcement shows that last year, the new special energy business income was 15 billion 255 million yuan, down 28.09% from the same period last year; Net profit loss of 1.205 billion yuan , a year-on-year decrease of 69.
Among them, polysilicon business revenue of 2.949 billion yuan, a year-on-year decrease of 62.01% ; The construction revenue of wind and photovoltaic power stations was 9.992 billion yuan, down 32.38% year on year; the operation revenue of wind and photovoltaic power stations was 2.684 billion yuan, up 14.19% year on year; Electrical equipment revenue was 3.955 billion yuan, down 10 from the same period last year.
According to the third quarterly report of Xinte Energy (unaudited), in the first three quarters of last year, the company achieved revenue of 11.656 billion yuan and net profit loss of about 5. Xinte Energy achieved a revenue of 3.599 billion yuan and a net profit loss of 6.
Perhaps in order to cope with the cold winter of the industry and seek new breakthroughs, TBEA, the controlling shareholder of Xinte Energy, made some adjustments to the management of the company. On the evening of November 24,
2025, Xinte Energy announced that Zhang Jianxin had resigned as chairman , executive director, member of the Strategic Committee and member of the Nomination Committee of the company due to work adjustment . According to
the data, Zhang Jianxin joined Xinte Energy as executive director in 2008 and became chairman of the company in 2012. As of the date of the above announcement, Zhang Jianxin has joined Xinte Energy for 17 years, including 13 years as chairman of the company.
On the same day, TBEA announced that in order to further strengthen the management of the company's new energy industry, The company appointed Huang Hanjie to be the chairman of Xinte Energy and its subsidiary TBEA Xinjiang New Energy Co., Ltd. Peng Xu was appointed as the general manager of TBEA Xinjiang New Energy Co., Ltd. More than
a month later, on the evening of January 5, 2026, Xinte Energy announced that Yang Xiaodong had resigned as general manager of the company due to job adjustment . At the same time, Nan Xinjian succeeded him as the general manager of the company .
According to the resume of the newly appointed executives, Huang Hanjie is mainly responsible for financial management in TBEA, while Nanxinjian is deeply engaged in the legal field. It is not difficult to see that in the downward cycle of the industry, enterprises have shifted from "expansion oriented" to "survival oriented". On the one hand, the combination of
"Finance + Law" can optimize the internal control system of enterprises and improve the level of governance in the cold winter of the current industry, on the other hand, it may also build up strength for Xinte Energy to sprint a shares again. In January
2021, Xinte Energy disclosed the matter of returning to A. Two years later, in March 2023, the company's A-share IPO was accepted by the Shanghai Stock Exchange, which intends to raise no more than 8.8 billion yuan for the construction of 200000 tons of polysilicon project in Zhundong, Xinjiang, after deducting the issuance fee.
However, the industry environment and capital environment have changed dramatically, after two rounds of inquiries, Xinte Energy chose to withdraw the above IPO application. Finally, in December 2024, the Shanghai Stock Exchange announced the termination of its IPO review.
On the one hand, the market demand is weak, and the price of silicon materials is declining .
Now in April, a new round of "rush for goods" driven by export tax rebates has officially ended. According to the survey of the Digital New Energy DataBM. Com, the current downstream ", therefore, the procurement demand of downstream enterprises is weak, and the transmission is upward. Stocks of silicon materials continue to accumulate. According to the news from the Silicon Branch in mid-March, the scale of polysilicon social inventory has been at a historical high and is still accumulating. The purchasing intention of downstream
enterprises is not strong, and the inventory of silicon materials continues to be high. Under this background, the price of silicon materials has been declining all the way.
According to the news of the Silicon Branch on April 8, the price of polysilicon fell sharply for the sixth time. This week, The average price of N-type compound feed and granular silicon has dropped to 36,000 yuan/ton and 3 yuan/ton respectively.
The price of silicon material has dropped to 30,000 yuan/ton again. According to the digital new energy DataBM. Com, since late January, the price of silicon materials has fallen by more than 37% in only two months, with the highest decline reaching 39.
Industry insiders believe that the performance of enterprises in the first quarter will be "horrible" .
Throughout the year, according to the forecast of China Photovoltaic Industry Association, in 2026, China's photovoltaic " means that the market demand for silicon materials will not fluctuate too much in the future. The imbalance between supply and demand will persist, and it will be difficult for enterprises to get rid of the loss dilemma in the short term.
On the other hand, the industry's energy saving and consumption reduction standards are more stringent. On September 16,
2025, the National Standards Committee of China issued a draft of the National Standard for Energy Consumption Quota per Unit Product of Silicon Polycrystalline and Germanium.
Among them, the energy consumption limits of grade 1, grade 2 and grade 3 of trichlorosilane (rod silicon) in the new national standard are set at 5 kgce/kg, 5.5 kgce/kg and 6, respectively.
In 2025, the average comprehensive energy consumption of trichlorosilane polysilicon enterprises is 6.8kgce/kg , which is 8.1% lower than that of the previous year, and it is expected to be reduced to 5 by 2035.
However, the value is still higher than level 3 energy consumption standard of the new national standard. The draft of the
new national standard clearly States that the minimum allowable value of comprehensive energy consumption per unit product of existing polysilicon enterprises should meet the level 3 standard, and the access value of comprehensive energy consumption per unit product of new or renovated or expanded polysilicon production enterprises should meet the level 2 standard.
This also means that when the new national standard of energy consumption is implemented, a number of backward production capacity will be eliminated. According to the previous Bank of Communications International Research Report, more than 30% of the industry's production capacity is expected to be shut down. It will take time for the
new national standard to be fully implemented, and the industry's current predicament of weak demand and plummeting prices is burning. Since the suspension of the storage platform, the price of polysilicon has plummeted to 30000 yuan/ton price range again, and the imbalance between supply and demand in the industry has further emerged. In such a market environment, how to effectively stabilize prices and avoid risks and maintain the basic living space has become the most urgent and urgent practical issue for polysilicon enterprises, including Xinte Energy.
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