Monday, 31 August 2026

Longi, TCL Zhonghuan, GCL Technology, Daqo and Xinte Energy all stayed loss-making in the first half of 2026, according to pv magazine, which reported signs of operational stabilization across the five Chinese solar manufacturers even as the deficits persisted.

Longi carried the largest deficit of the group. Its net loss attributable to shareholders widened 43.4% to CNY 3.68 billion, pv magazine reported. First-half revenue fell 17.6% year on year to CNY 27.05 billion.

The manufacturer pointed to four pressures behind the result: continued oversupply, low capacity utilization, higher silver costs and foreign exchange effects, according to pv magazine.

TCL Zhonghuan moved in the opposite direction on both lines. Revenue rose 6.8% to CNY 14.31 billion and the net loss narrowed 24.5% to CNY 3.20 billion, per pv magazine.

Daqo New Energy recorded the sharpest revenue contraction. Sales dropped 57.6% to CNY 623 million while the attributable net loss widened 39.1% to CNY 1.60 billion, according to pv magazine.

Xinte Energy posted the strongest top-line growth and the smallest deficit. Revenue climbed 38.9% to CNY 10.15 billion and the attributable net loss narrowed 17.3% to CNY 212 million, pv magazine reported.

The split across the five names is not uniform. Two of the reporting companies grew revenue while trimming losses, one shrank on both counts, and Longi combined falling sales with a deeper deficit. Silver cost inflation and low utilization named by Longi bear on cell and module producers rather than polysilicon suppliers, where Daqo's revenue decline was concentrated.

Ranger Energy Services has struck a deal worth roughly USD 27.5 million for the U.S. coiled tubing business of STEP Energy Services, World Oil reported.

Thirteen full coiled tubing spreads change hands under the agreement, together with associated equipment and inventory. Ranger also picks up certain property and vehicle lease obligations.

World Oil described the purchase as one that leaves Ranger the second-largest coiled tubing provider operating in the Lower 48.

Around 220 STEP workers are set to move across, and Ranger expects to take over operations at closing, which World Oil said is targeted on or about Sept. 11, 2026.

For the seller, the sale narrows the field of operations. STEP said stepping out of the U.S. lets it put its attention on Canadian energy services work, spanning coiled tubing, hydraulic fracturing and cementing in the Western Canadian Sedimentary basin.