Cloud Hangs Over Chinese Solar Sector as Glut Persists

(Bloomberg) — China’s floundering solar sector will continue to face tough times in the short-term, Longi Green Energy Technology Co. Ltd. said, as an oversupplied market keeps profits suppressed.

The nation’s world-leading solar industry is grappling with a deepening glut after production has outstripped demand in recent years. Major firms including Longi reported losses in the first quarter as they were forced to sell below cost.