Chinese PV Industry Brief: Xinte Energy reports drop in profit for 2023

Chinese polysilicon manufacturer Xinte Energy has reported a lower full-year net profit for 2023 due to falling polysilicon prices. Xinte Energy said it expects a net profit decrease for the year ending Dec. 31, 2023, based on its unaudited results. It will be in the range of CNY 4. 2 billion ($582. 2 million) to CNY4. 4 billion, down approximately 67% to 68% compared to CNY 13. 315 billion for the same period in 2022. It attributed the change to lower average selling prices of polysilicon, down by 60% compared to 2022. The company said it recorded a 90% increase in sales volume compared to the ...

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