ADVANCES TO SUPPLIERS- THIRD PARTIES

12 Months Ended

Dec. 31, 2025

ADVANCES TO SUPPLIERS- THIRD PARTIES

ADVANCES TO SUPPLIERS- THIRD PARTIES

11.    ADVANCES TO SUPPLIERS– THIRD PARTIES

Advance to suppliers – third parties were as follows (RMB in thousands):

	As of December 31,
	2024	2025
	RMB	RMB
Advances to suppliers - current	2,451,093	1,324,445
Advances to suppliers – non-current	520,376	605,525
Advances to suppliers	2,971,469	1,929,970

As of December 31, 2024 and 2025, advances to suppliers with term of less than 1 year mainly represent payments for procurement of recoverable silicon materials, virgin polysilicon and solar cells and the Group has delivery plan with the respective suppliers to receive the materials in the next twelve months.

As of December 31, 2024 and 2025, non-current advances to suppliers primarily represent upfront payments for procurement of silicon materials of which related good delivery is scheduled beyond one year.

There were no provisions recorded against advances to suppliers for the years ended December 31, 2023, 2024 and 2025.