China Energy Engineering Corporation (Energy China) announced that a consortium formed by its subsidiaries — China Energy International Construction Group, Guangdong Thermal Power Engineering, and Northwest Electric Power Design Institute — had signed three engineering, procurement, and construction (EPC) contracts for renewable energy projects in Saudi Arabia. The consortium will cooperate with a project company jointly established by the Saudi International Company for Power and Water, the Public Investment Fund (PIF), and Aramco Power. The total contract value is USD 2.745 billion (CNY 19.55 billion). The projects will include 3 GW of wind power and 2 GW of solar power, with construction expected to be completed within 30 months.

GCL Technology Holdings Ltd. reported that its photovoltaic materials business returned to profitability in the third quarter of 2025 after previous losses. The company recorded a net profit of about CNY 960 million (USD 132 million) for the quarter, compared with a net loss of CNY 1.81 billion (USD 249 million) in the same period last year. GCL also stated that the average production cash cost for granular silicon, including research and development expenses, dropped to CNY 24.16 per kilogram (USD 3.32), representing a 10.8% decrease from CNY 27.07/kg (USD 3.72) in the first quarter. The company said this cost level complies with China’s latest Energy Consumption Limits for Polycrystalline Silicon and Germanium Products standards.

DMEGC Magnetics released its earnings forecast for the first three quarters of 2025, estimating a net profit between CNY 1.39 billion (USD 191 million) and CNY 1.53 billion (USD 211 million), an increase of 50.1%–65.2% compared with CNY 926 million in the same period last year. As of the end of June 2025, the company’s total assets reached CNY 25.33 billion (USD 3.48 billion), with a debt-to-asset ratio of 56.99%. Photovoltaics remained the company’s main growth driver, contributing CNY 8.05 billion (USD 1.11 billion) in revenue during the first half of 2025, up 36.6% year-on-year and accounting for 67.5% of total revenue. The magnetic materials and lithium battery segments continued to perform steadily, generating revenues of CNY 1.94 billion (USD 267 million) and CNY 1.29 billion (USD 177 million) respectively, both up around 4% year-on-year.

Leascend Technology Co., Ltd. announced the termination of its major asset restructuring plan. The company had proposed acquiring a 69.71% stake in Xingchu Century Technology Co., Ltd. through a combination of share issuance and cash payment, along with raising additional funds through a private placement to its subsidiary, Hainan Leascend Technology Co., Ltd. Leascend stated that the termination resulted from the parties’ inability to reach an agreement on key issues such as valuation and transaction price. The company noted that the decision was made after careful consideration to safeguard the interests of shareholders and maintain operational stability.