Core Viewpoint - Trina Solar Co., Ltd. reported a significant decline in financial performance for the first half of 2025, with a 27.72% decrease in revenue and a net loss attributed to various market challenges, despite maintaining a competitive edge in photovoltaic (PV) products [3][4][19]. Financial Performance - Revenue for the first half of 2025 was approximately CNY 31.06 billion, down from CNY 42.97 billion in the same period last year, representing a 27.72% decrease [3]. - Total profit for the period was a loss of CNY 3.29 billion, compared to a profit of CNY 606 million in the previous year, marking a 641.94% decline [3]. - The net profit attributable to shareholders was a loss of CNY 2.92 billion, down 654.47% from a profit of CNY 526 million in the previous year [3]. - Basic earnings per share decreased to -CNY 1.34 from CNY 0.24, reflecting an 858.33% decline [3]. Business Overview - The company operates in the solar photovoltaic industry, focusing on the development, production, and sales of PV products, energy storage solutions, and system integration services [4][19]. - Trina Solar has established a diversified business matrix that includes PV products, energy storage, system solutions, and digital energy services, aiming to transition from a PV manufacturer to a comprehensive energy solution provider [4][19]. Market Position - Trina Solar is recognized as a leading player in the global PV market, with a shipment of over 32 GW of PV modules in the first half of 2025, maintaining its position as the world's largest supplier [6][19]. - The company has received multiple accolades for its PV products, including being named a Tier 1 manufacturer by Bloomberg New Energy Finance (BNEF) and winning various performance awards [5][6]. Industry Trends - The global PV market is experiencing significant growth, with new installations reaching 211.61 GW in the first half of 2025, a 106% increase year-on-year [16]. - The industry is transitioning from a subsidy-driven model to a competitive pricing environment, with a focus on quality and technological advancements [16][18]. - Technological innovations, particularly in TOPCon and perovskite-silicon tandem cells, are expected to drive future growth and efficiency improvements in the PV sector [17][22]. Strategic Initiatives - The company is committed to enhancing its research and development capabilities, focusing on advanced technologies such as TOPCon and perovskite-silicon tandem cells to maintain its competitive edge [15][21]. - Trina Solar aims to strengthen its solution-oriented approach by developing integrated energy systems that cater to diverse customer needs and market scenarios [20].

全球首块808W组件诞生，天合光能开启钙钛矿/晶 体硅叠层电池组件产业化新时代 3月23日，位于天合光能的光伏科学与技术全国重点实验室再次宣布，其研发的210大尺 寸钙钛矿/晶体硅两端叠层电池组件（面积3.1 m2），经过TÜV南德意志集团（TÜV SÜD） 测试实验室认证，峰值功率达808W，成为全球首块功率突破800W门槛的工业标准尺寸光伏 组件产品，创造了新的世界纪录，在钙钛矿/晶体硅叠层技术领域具有划时代意义。 目前晶体硅电池的效率提升已近天花板，开发效率更高的叠层电池成为产业新的关注 点，钙钛矿叠层可以突破单结电池物理极限效率的天花板，使得理论效率达到43%，钙钛矿 叠层技术是重要解决方案，钙钛矿/晶体硅叠层技术以其高效电池效率，将成为下一代光伏 技术的风向标，实现由"硅基电池"向"叠层电池"的历史性跨越，为人类可持续发展开辟全新 可能性。 "这是钙钛矿/晶体硅叠层电池组件产品的重大突破！也是光伏行业技术迈向未来的关键 里程碑！"天合光能董事长兼CEO、光伏科学与技术全国重点实验室主任高纪凡说，"全球首 块210标准工业尺寸800W+钙钛矿/晶体硅叠层电池组件产品的成功制备，意味着公司引领行 业向叠 ...