[SMM Silicon-Based PV Morning Meeting Summary: Wafer Production Schedule Expected to Drop by Over 10% in July, Global Solar Cell Production Schedule Down 3% MoM] Wafer: Domestic wafer production in June was approximately 58GW, with the market for 210R-sized wafers increasing against the trend, while the sales of 183-sized wafers were significantly hindered. Subsequently, due to the decline in wafer prices, wafer enterprises reduced their production schedules this month, with an expected drop of over 10%. Solar Cell: The global production schedule of Chinese enterprises for July was 53-54GW, down 3% MoM. Supported by the remaining orders from some installation rushes, the overall production cuts were relatively small, and the proportion of 210RN production increased to over 40% of the total TOPCon production.

From June 30, 2025 to July 6, 2025, SMM recorded a total of 37 domestic enterprise-won PV module projects that week. The disclosed winning bid prices for PV modules were concentrated in the range of 0.71 to 0.85 yuan/W, with a weekly weighted average price of 0.753 yuan/W. The total procurement capacity of the winning bids was 2462.70 MW, an increase of 2251.02 MW compared to the previous week.

On the afternoon of July 4, US President Trump signed the "Big and Beautiful" tax and spending bill, marking the official enactment of this controversial legislation.

At the Solar & Storage Egypt 2025 exhibition, Mejdi Khayati, Technical Services Manager for MEA & Central Asia at Jinko Solar, highlighted the advancements shaping the future of solar modules for large-scale applications.

As part of its Vision 2030 initiative, Saudi Arabia is significantly advancing its renewable energy sector, focusing on solar power. The Kingdom plans to generate 50% of its electricity from renewable sources by 2030, backed by a monumental investment of approximately $188 billion. In 2023, the Saudi Power Procurement Company (SPPC) initiated the qualification process for four major solar projects totaling 3,700 MW of capacity.

Sichuan Yingfa Ruineng Technology Co., Ltd. has joined the United Nations Global Compact (UNGC), committing to integrate sustainable development and ESG values into their core business strategy. By participating in the world's largest corporate sustainability initiative, Yingfa Ruineng aims to support global climate and energy goals through innovation in the photovoltaic industry.

The UAE’s Sharjah National Oil Corporation (SNOC) and renewable energy developer Emerge have launched a 60 MWp solar park in Sharjah, designed to power a nearby gas processing facility.

The Spanish government unveiled a €100 million aid initiative, RENOCICLA, to foster recycling and reuse in renewable energy projects, focusing on solar panels, lithium batteries, and wind turbine blades.

[SMM Silicon-Based PV Morning Meeting Summary: Silicon Metal Prices Fluctuate Considerably, Supply-Demand Trend Remains Unclear] Last week, silicon metal futures prices fluctuated considerably, while spot prices held up well. As of last Friday, oxygen-blown #553 silicon in east China was priced at 8,700-8,800 yuan/mt. According to the supply-demand balance, supply and demand in Q2 showed destocking, with uncertainties in supply and demand in July. Attention should be paid to the operating status of top-tier enterprises.

Looking ahead, the downward risk in prices has not yet been fully released, but the production schedule data for July in the industry may bring a turning point. Chinese companies' global solar cell production schedules are expected to reach 54-55 GW, down more than 3% MoM. Although the overall production cuts are limited, they are significantly higher than those in the module sector. If the trend of production cuts continues, coupled with a continued increase in solar cell exports to over 5.5 GW, through the dual effects of supply-side contraction and overseas channel diversification, the current supply-demand imbalance may gradually be alleviated, laying the foundation for price stabilization.