GCL has suffered two straight years of losses, with a net loss of 2.87 billion yuan ($415 million) in 2025, according to results released in March. Its peers are also still racking up losses despite sector-wide efforts to consolidate and diversify operations. Majors like Longi Green Energy Technology Co., JA Solar Technology Co., Jinko Solar Co., Tongwei Co. and Trina Solar Co., all ended the past quarter in the red.





