Di Yi Cai Jing·2025-05-07 12:00Core Insights - In 2024, major photovoltaic companies experienced significant losses, with Longi Green Energy reporting a net loss of 8.62 billion yuan, JA Solar a loss of 4.656 billion yuan, and Trina Solar a loss of 3.443 billion yuan, while JinkoSolar was the only company to achieve profitability [1][2] Revenue Performance - JinkoSolar achieved revenue of 92.471 billion yuan, a year-on-year decrease of 22.08% - Longi Green Energy reported revenue of 82.58 billion yuan, down 36.23% year-on-year - Trina Solar's revenue was 80.282 billion yuan, reflecting a 29.21% decline year-on-year - JA Solar's revenue stood at 70.121 billion yuan, a decrease of 14.02% year-on-year [1][2] Shipment Volumes - In 2024, Trina Solar shipped over 70 GW of photovoltaic modules - JinkoSolar's shipments reached 92.87 GW - Longi Green Energy shipped 82.32 GW of battery modules - JA Solar's battery module shipments totaled 79.447 GW, including 1.544 GW for self-use [1] Profitability Challenges - Only JinkoSolar reported a profit in 2024, with a net profit of 99 million yuan, down 98.67% year-on-year - Longi Green Energy's net loss was 8.62 billion yuan, compared to a net profit of 10.75 billion yuan in the previous year - JA Solar's net loss was 4.656 billion yuan, down from a net profit of 7.039 billion yuan the previous year - Trina Solar reported a net loss of 3.443 billion yuan, compared to a net profit of 5.531 billion yuan in the prior year [2] Factors Contributing to Losses - Longi Green Energy cited a 61% drop in silicon wafer prices and a 39% decline in module prices as key factors for its losses, along with asset impairment losses of 8.7 billion yuan and investment losses of 486 million yuan [2] - JA Solar attributed its losses to intensified market competition, significant price declines, and a challenging international trade environment, leading to substantial asset impairment provisions [2] - Trina Solar indicated that the continuous decline in photovoltaic module prices adversely affected its profitability [2] Asset Impairment - Trina Solar reported a total of 3.106 billion yuan in various credit and asset impairment provisions, including 508 million yuan in credit impairment losses and 2.598 billion yuan in asset impairment losses [3] Market Performance - The stock prices of these four companies fell significantly in 2024, with JA Solar experiencing the largest decline at 31.25% - Longi Green Energy and Trina Solar saw their stock prices drop by 30.56% and 30.09%, respectively - JinkoSolar, the only profitable company, had a relatively smaller decline of 17.63% [4]