Hengdian Group’s photovoltaic (PV) manufacturer DMEGC reported growth for both profit and revenue for the first half of 2025, a rare standout in an otherwise volatile market. DMEGC posted 59% year-on-year increase in net profit to USD $142 million and 25% year-on-year increase for operating revenue to USD $1.664 billion in H1.

According to DMEGC, a global leader in magnetic materials, solar PV, and lithium batteries, these results reflect the company’s consistent focus on "steady progress and quality development." DMEGC’s H1 results were supported by double-digit growth in its core business areas as well as industry recognition by partners and clients.

DMEGC’s PV segment was a primary driver of growth in the first half of the year: shipments of PV modules rose 64% compared to last year. Business was also buoyed by optimized production capacity and differentiated product launches, including five new module types: ultra-high-power modules, full black modules, hail-resistant modules, floating modules, and installation-friendly designs.  

Photo: greenhouse transformation projects in Netherlands, turning aging agricultural infrastructure into high-efficiency renewable energy systems

Magnetic materials, a cornerstone of DMEGC’s business, also maintained industry leadership in H1. In the first half of this year DMEGC’s magnetics shipments reached nearly 110,000 tons, up a few percent from last year. Newly-launched magnetic components tailored for electric vehicles (EVs) and AI servers, as well as digital intelligence manufacturing upgrades also boosted DMEGC’s productivity. Shipments for the lithium battery segment were also up more than 12.3%, in H1, contributing to a 4% rise in revenue. This puts DMEGC among China’s top three suppliers of small cylindrical lithium battery cells.

DMEGC also received widespread industry recognition this year, including EUPD Research’s “Top Brand PV Module”, BloombergNEF (BNEF)’s “Tier 1 Solar Module Manufacturer”, and Kiwa PVEL’s “Top Performer PV Module Manufacturer” for the 8(th), 7(th) and 5(th) consecutive years, respectively. DMEGC also won “Best Supplier” awards from Midea, Bosch, Brose and Panasonic, highlighting its reputation and reliability across global supply chains.

DMEGC’s growth is guided by its philosophy “low-carbon, green development". All of its solar cell and module factories now run on 100% green electricity, and the company’s Ecovadis rating – a global benchmark for ESG performance – was upgraded from Bronze to Silver. DMEGC was also recognized as one of the "Top 10 Pioneering Environmental Cases" in the 2025 Energy ESG 100, advancing its long-term goals to reach carbon peak by 2030 and carbon neutrality by 2050.  

Photo: solar plant in Haute-Corse, France, built on a former incinerator and metal waste storage site as a hybrid storage system combined with a 5.2MHw Li-Ion battery system. Annually, this plant would reduce CO₂ emissions by 1247 tonnes.

Underpinning DMEGC’s growth is a constant commitment to innovation. DMEGC currently holds 1,846 valid patents, with 116 new patents added in H1 2025. It has led or participated in 74 national and industry standards, and its 3,000-strong R&D team supports over ten innovation platforms. Digital transformation has also accelerated, with three new provincial-level advanced smart factories and five national-level 5G factories enabling higher production efficiency and strategic advantages.  

DMEGC’s international footprint continues to expand. Currently, it has five manufacturing bases worldwide, nearly 70 product sales locations, and more than 20 marketing and warehousing centers. Its strategy aims to continue to leverage technical strengths and green practices to navigate market challenges and capture opportunities in renewable energy and advanced manufacturing.