TRINA(SH:688599) Xin Lang Cai Jing·2026-02-11 00:30Core Viewpoint - The company has raised its shipment guidance price for distributed components, which is expected to support profit recovery, while the energy storage business is anticipated to enhance performance through volume and profit growth [1][2]. Group 1: Price Adjustment and Profit Recovery - The company has increased the shipment guidance price for distributed components, indicating confidence in price increases for 2026 [2]. - The high-performance Supreme N-type components are expected to support profit recovery due to their competitive advantages in the international photovoltaic component market [2]. Group 2: Technological Advancements - The company is developing the first large-area P-type HJT/perovskite tandem battery, with a total of 689 related patent applications, positioning itself as a global leader in this technology [2]. - The combination of technology, patent reserves, and commercialization is expected to provide a competitive edge in the next generation of efficient technology [2]. Group 3: Energy Storage Business Growth - The company plans to exceed 8 GWh in energy storage shipments in 2025 and aims to increase shipments in 2026, with a cumulative global energy storage system shipment expected to surpass 18 GWh by the end of 2025 [3]. - The energy storage business is projected to achieve simultaneous volume and profit growth, providing resilience and long-term flexibility to the company's overall performance [3]. Group 4: Profit Forecast and Valuation - The company has revised its 2025 profit forecast from a loss of 4.294 billion to a loss of 6.903 billion, and the 2026 profit forecast has been adjusted downwards by 242.7% to a loss of 1.643 billion [4]. - Despite current industry challenges, the company has a positive outlook for future recovery and has increased its target price by 50% to 25.5 yuan, indicating a potential upside of 24.3% from the current stock price [4].