PVTIME – Zhejiang Bangjie Holding Group Co. (Bangjie, 002634.SZ) has announced the ongoing temporary closure of the high-efficiency photovoltaic (PV) solar cell production line at its Yangzhou subsidiary. This follows intensified industry competition and steep price declines in the supply chain, which have led to persistent losses at Yangzhou Bangjie. The company first halted operations in March 2025 for equipment maintenance and cost-cutting.
Despite initial hopes to resume production, the challenging landscape of the PV sector has forced Bangjie to extend the shutdown ‘to avoid expanding losses and assuming extra risks’, according to the company. This move prioritises shareholder interests while the firm develops a cautious revival strategy, contingent on technical readiness and market trends.
Seamless apparel, Bangjie’s mainstay for decades, remains its financial anchor. In 2024, the segment generated CNY 619 million (56.06% of total revenue), outpacing PV’s CNY 452 million (40.86%). By Q1 2025, PV revenue had dropped to zero, as the company focused on improving cost efficiency and operational stability in apparel.
The firm’s foray into PV in late 2022 created a ‘seamless apparel + PV’ dual model, with PV contributing over 30% of revenue in 2023. However, the sector’s downturn in 2024 eroded profitability, prompting the strategic pivot back to the proven apparel business.
‘Bangjie will prioritise sustainable growth in apparel while monitoring PV developments,’ the release noted, emphasising a focus on long-term operational resilience.
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