{"id":82246,"date":"2024-02-07T00:00:00","date_gmt":"2024-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/"},"modified":"2024-02-07T00:00:00","modified_gmt":"2024-02-07T00:00:00","slug":"chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/","title":{"rendered":"China\u2019s PV industry firms turn to share buybacks amid rising competition"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of China's solar manufacturers are resorting to share buybacks to boost their low <\/strong><strong>market valuations as rising competition drives down equipment prices<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-06\/china-s-struggling-solar-energy-firms-join-share-buybacks-push\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <a target=\"_blank\" href=\"https:\/\/www.longi.com\/us\/\" style=\"\" rel=\"noopener\">Longi Green Energy<\/a>, the world's largest solar equipment maker, has announced a 600 million yuan (USD 83 mn) repurchase plan of its Shanghai-listed shares, following similar moves by <a target=\"_blank\" href=\"https:\/\/en.tongwei.com.cn\/\" style=\"\" rel=\"noopener\">Tongwei<\/a> and JinkoSolar. Analysts doubt the buybacks will be effective and expect the solar sector's profitability to drop further. The buybacks also come as Chinese regulators urge listed companies to increase repurchases to stabilize the stock market, which closed at a five-year low last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Toyota + Chiyoda partner on a large-scale electrolysis system: <\/strong>Japan\u2019s Toyota Motor Corporation and engineering firm Chiyoda Corporation are partnering to introduce a 5 MW electrolysis system for hydrogen production \u2014 which will later be expanded to 10 GW \u2014 at the automaker\u2019s Honsha plant starting FY 2025. Construction of the electrolyzer factory is expected to begin in 2026 <a target=\"_blank\" href=\"https:\/\/www.hydrogeninsight.com\/electrolysers\/toyota-to-mass-produce-hydrogen-electrolysers-in-partnership-with-chiyoda\/2-1-1593648\" style=\"\" rel=\"noopener\">at the earliest<\/a>. (<a target=\"_blank\" href=\"https:\/\/global.toyota\/en\/newsroom\/corporate\/40388622.html\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Chinese solar giant LONGi, Tongwei, and JinkoSola are turning to share buybacks to hike market valuations amid rising competition.<\/p>\n","protected":false},"author":1,"featured_media":82247,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,69,11,207,94,303],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-china","tag-enterpriseclimate","tag-japan","tag-solar","tag-toyota","wpautop","entry"],"acf":{"mongo_id":"b191346d-2bfb-4952-8581-6e030029032f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/543.JPG","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s PV industry firms turn to share buybacks amid rising competition","related_issue":[82232],"teaser":"Chinese solar giant LONGi, Tongwei, and JinkoSola are turning to share buybacks to hike market valuations amid rising competition.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.1c21d821-f5d1-401a-9ad9-631e8c9eb23b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>China\u2019s PV industry firms turn to share buybacks amid rising competition - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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