【SMM Analysis: May Order Intake Temporarily Slows Production Schedule Fluctuations, Top-Tier Enterprises Maintain Full Production Lines, Focus on Post-Holiday Order Fulfillment Pace】On the PV extrusion front, leading enterprises reported that despite the pullback in month-end installation rush demand, production lines remained stable due to the continuous intake of new orders in May. Notably, although the volume of new orders declined compared to the peak levels from March to April, the overall decrease was manageable. The actual production pace will need further verification after the Labour Day holiday.

At the New Energy PV ESS Forum of the 2025 New Energy Industry Expo, Tuo Tang, a consulting engineer at the Energy Construction Era ESS Technology Research Institute, stated that with overcapacity in the new energy market, electricity prices may continue to decline, and PV projects may experience negative electricity prices during peak periods.

Boviet Solar, a Vietnamese solar company, announced the official commencement of operations at its first PV module factory in Greenville, North Carolina, US. The factory, with a total investment of $294 million, utilizes N-type solar cell technology to produce high-performance Gamma Series™ single-sided PV modules and Vega Series™ bifacial PV modules.

NextEra Energy has had a strong start to 2025, with adjusted earnings rising 9% year-on-year to $2.038 billion, or $0.99 per share.

China's engineering company Shanghai Electric signed an agreement with the UAE's state-owned renewable energy company Masdar to develop a 2 GW solar project in Saudi Arabia.

Moroccan pharmaceutical company Societe de Therapeutique Marocaine (Sothema) has committed to procuring green power to meet 100% of its electricity consumption in its home country.

【SMM Weekly Review: Frequent Upstream PV Meetings, Widespread Expectations for Production Cuts in the Subsequent Market】This week, domestic N-type 18Xmm wafers were priced at 1.1-1.2 yuan/piece, N-type 210R at 1.3-1.35 yuan/piece, and N-type 210mm wafers at 1.4-1.45 yuan/piece. Wafer prices continued to pull back this week, with a decline observed across all sizes. Wafer companies initiated industry meetings on Tuesday, implementing a certain reduction in Q2 quotas. There are significant expectations for subsequent production cuts in wafers and cells, which are expected to alleviate the supply surplus situation to some extent.