Trina Solar’s revenue for 2024 is projected to decline by 1.6%, alongside a significant reduction in net profit of 32.8%. On April 29, Trina Solar (688032) released its annual report, indicating that the company’s revenue is expected to reach 19.9 billion yuan, which reflects a decrease of 1.6% compared to the previous year. The net profit is anticipated to be 3.44 billion yuan, a drop of 32.8%. Additionally, the net profit attributable to shareholders is estimated at 2.94 billion yuan, marking a 44.1% decrease. The total assets at the end of the reporting period are projected to be 66.89 billion yuan, which is a year-on-year increase of 64.3%. The earnings per share (EPS) is expected to be 2.7743 yuan.
For the fourth quarter, the company forecasts a revenue of 7.27 billion yuan, a year-on-year increase of 17.7%. The net profit attributable to shareholders is projected to be 986.1 million yuan, up by 2.3%. The net profit for the last quarter is expected to be 623.7 million yuan, showing a decrease of 57.3%. The EPS for this period is estimated at 0.7947 yuan.
As the year concludes, Trina Solar’s total assets are projected to be 83.33 billion yuan, which is a 15.3% increase from the end of the previous year. The total liabilities are expected to be 63.57 billion yuan, a slight decline of 0.3% compared to last year.
According to the management report, in response to the intense competition in the industry, Trina Solar continues to expand its product offerings and market capabilities to enhance its market share and product competitiveness.
In terms of operational strategies, Trina Solar’s core products include microinverters and energy storage systems, with revenues reaching 12.27 billion yuan. The sales volume of microinverters is estimated at 990,000 units, while the energy storage systems are projected at 230,000 units. The company has also launched a new series of microinverters with capacities reaching up to 5000W, gaining traction in the market.
Furthermore, the report indicated that Trina Solar’s revenue from its concentrated solar power projects and distributed energy services has seen a remarkable growth of 156.88% compared to the previous year.
For the period of April 2025, Trina Solar’s external sales revenue is expected to reach 12.82 billion yuan, reflecting a year-on-year increase of 64.31%. The company continues to strengthen its market presence globally, expanding its reach in various countries.
Looking ahead, Trina Solar is focused on innovation and expanding its market capabilities. The company aims to lay a solid foundation for sustained growth in the future.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/chaozhous-2024-revenue-forecast-shows-a-1-6-decrease-with-a-32-8-drop-in-net-profit/
