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    688599   CNE100003ZR0

TRINA SOLAR CO., LTD

(688599)
  Report
End-of-day quote Shanghai Stock Exchange  -  2022-11-28
64.53 CNY   -0.57%
11/24At CIIE opening, Trina Solar chairman Gao talks about path to net zero emissions
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11/24Trina Solar scores 100% in 2022 BNEF Bankability Survey, 210mm modules taking the lead in bankability
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11/23Trina Solar scores 100% in 2022 BNEF Bankability Survey
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Trina Solar Reports Module Shipments of 18.05GW in First Half of 2022, Ranking Second Worldwide

09/01/2022 | 09:53am EST

Trina Solar shipped a total of 18.05GW photovoltaic (PV) modules in the first half of 2022, 72% more than in the corresponding period last year, meaning the company continues to rank second worldwide in solar module shipments, according to the company's half-yearly report published on August 25. Over this six-month period, Trina Solar's revenue amounted to RMB 35.73 billion.

Leading in shipments: 18.05GW shipped in first half of 2022

According to the report, Trina Solar's PV module business has continued to thrive with a major breakthrough in shipments and a 15% increase in its market share. The proportion of distributed power generation (DG) shipments doubled on a year-on-year basis, accounting for more than 60% of its total shipments of 18.05GW.

210 modules accounted for more than 80% of total shipments in the first half. Trina Solar has shipped more than 30GW of 210 modules, while the whole industry witnessed over 50GW of 210 modules shipped as of June in less than two years since their mass production with a remarkable market share of about 50%. The company said that the production capacity of solar cells and modules is expected to reach 50GW and 65GW by the end of this year, 90% of that being 210 products.

Leading the industry with 600W+ modules

Trina Solar's steady growth and strong marketplace have benefited from the industry trend toward large-format high-power products. During the year's first half, Trina Solar continued to lead the industry with its Vertex 600W+ ultra-high-power PV modules.

Featuring the core advantages of high power, high efficiency, high energy yield, and high reliability, along with the establishment of a complete ecosystem, 600W+ modules have created a new channel for lower LCOE. 600W+ modules are used in various scenarios, including utility-scale power stations, commercial and industrial power plants, and residential projects. The shipments continue to rank first in 2021 and H1 2022 in C&I and residential in China, with a market share of more than 25%.

Keep leading the industry by N-type tech

The photovoltaic industry has entered a new iteration based on high-efficiency, high-power N-type cells. Trina Solar keeps leading the development of the next generation of high-efficiency N-type cell technology. The Suqian 8GW TOPCon cell project was officially launched in April and is expected to be gradually put into production in the second half of the year, according to the company's half-yearly report. The new production capacity layout in Qinghai Industrial Park deploys only 210 modules based on new-generation N-type cell technology.

Establishing an independent N-type industrial chain not only strengthens its own N-type technology and products but will also accelerate ecological development and guide the industry's transition to 210mm size, 600W+ power, and N-type cells to better serve its end customers with greater value.

Leading by brand's global recognition

The global financial markets, authorities, and the solar industry have demonstrated their absolute confidence in Trina Solar and its products. The company has scored 100% in the BNEF Bankability Survey for six consecutive years and rated AAA in the Q2 PV ModuleTech Bankability report by PV-Tech. The company has also been ranked as Top Performer by PVEL and named an Overall High Achiever by RETC in June.

Since founded 25 years ago, Trina Solar has shipped more than 100GW of modules, generating green power for customers in more than 100 countries and regions, and remains dedicated to building a carbon-emissions-free world.

Contact:

Americas, United States, Chile, Mexico, United States

7100 Stevenson Blvd

Fremont, CA 94538

Phone: +1 800 696 7114

After Sales Support

E: sales@trinasolar.com

Media

E: press@trinasolar.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 83 108 M 11 610 M 11 610 M
Net income 2022 3 630 M 507 M 507 M
Net Debt 2022 9 264 M 1 294 M 1 294 M
P/E ratio 2022 38,6x
Yield 2022 0,65%
Capitalization 140 B 19 556 M 19 556 M
EV / Sales 2022 1,80x
EV / Sales 2023 1,36x
Nbr of Employees 17 586
Free-Float 37,8%
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Number of Analysts 7
Last Close Price 64,53 CNY
Average target price 82,70 CNY
Spread / Average Target 28,2%
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Managers and Directors
Ji Fan Gao Chairman & Chief Executive Officer
Sen Wu Chief Financial Officer
Yan Hong Jiang Chairman-Supervisory Board
Wei Liu Independent Director
Bai Ling Jiang Independent Director
Sector and Competitors