Trina Solar (688599) H2 2024 earnings summary

Executive summary

• Revenue for 2024 was RMB 80.33 billion, down 29.15% year-over-year due to declining photovoltaic component prices and industry supply-demand imbalance.

• Net loss attributable to shareholders was RMB -3.46 billion, a decrease of 162.46% compared to the previous year.

• Despite increased shipment volumes, profitability declined sharply, resulting in a full-year loss.

• The company maintained high market share in distributed business and expanded overseas storage shipments.

Financial highlights

• Operating income: RMB 80.33 billion, down 29.15% year-over-year.

• Operating profit: RMB -3.77 billion, down 154.15% year-over-year.

• Net profit attributable to shareholders: RMB -3.46 billion, down 162.46% year-over-year.

• Basic EPS: -1.59 RMB, down 162.35% year-over-year.

• Total assets at year-end: RMB 125.41 billion, up 4.23% from the start of the year.

Outlook and guidance

• The company responded flexibly to industry challenges, leveraging diversified business structure and global channels.

• Continued focus on expanding integrated solutions and overseas storage business.