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天合光能(688599):2024年年报&2025年一季报点评:210组件累计出货量稳居行业第一,持续优化全球供应链配置
EBSCN· 2025-05-06 03:44
2025 年 5 月 6 日 公司研究 210 组件累计出货量稳居行业第一,持续优化全球供应链配置 ——天合光能(688599.SH)2024 年年报&2025 年一季报点评 要点 事件:公司发布 2024 年年报&2025 年一季报,2024 年实现营业收入 802.82 亿 元,同比-29.2%,实现归母净利润-34.43 亿元,同比-162.25%;2025Q1 实现 营业收入 143.35 亿元,同比-21.48%,实现归母净利润-13.20 亿元,环比减亏。 210 组件累计出货量稳居行业第一,计提减值阶段性影响公司业绩。(1)2024 年公司组件销量同比增长 18.31%至 64.48GW(包含电站、电站工程建设管理及 系统产品的合计出货量为 70.47GW),210 组件累计出货超 170GW 稳居行业第 一,但在产业价格快速下跌情况下公司光伏产业营业收入同比减少 27.13%至 557.09 亿元,毛利率同比减少 10.24 个 pct 至 4.30%。(2)2024 年公司风光 储项目指标获取量超 5.7GW,支架业务出货量达 7.3GW,储能舱及系统销售累 计出货超过 10GWh,在户用电 ...
天合光能储能倍增 探路光伏行业破局“内卷外堵”
Xin Hua Cai Jing· 2025-05-01 08:11
Core Insights - The photovoltaic industry in China is rapidly developing, with a cumulative installed capacity of 887 million kilowatts by the end of 2024, solidifying its position as the second-largest power source domestically [2] - Companies are facing challenges such as supply-demand imbalance and intense competition, leading to a general decline in profitability and increased losses across the industry [2] - Trina Solar is leading the industry in standardizing component sizes and promoting a friendly photovoltaic ecosystem, achieving over 170 GW in shipments of its 210 components in 2024 [2][3] Industry Developments - The demand for flexible adjustment resources in the power system is increasing due to the large-scale integration of new energy sources, prompting leading companies to accelerate the integration of solar and storage solutions [3] - Trina Solar's energy storage capacity saw over 100% growth in 2024, with a shipment volume of 4.3 GWh, doubling from 2023, and it aims to ship between 8 GWh and 10 GWh in the current year [3] Technological Advancements - The industry is actively pursuing next-generation photovoltaic technologies, with Trina Solar leading in perovskite solar cell patents, holding 481 patents and ranking first globally [4] - Trina Solar's self-developed 210 mm large-area perovskite-silicon tandem solar cells achieved a maximum efficiency of 31.1%, setting new world records in both efficiency and component power [4] Strategic Shifts - Trina Solar has transitioned from a photovoltaic product manufacturer to a comprehensive solution provider for photovoltaic and energy storage, focusing on new growth areas such as smart microgrids and green hydrogen production [5][6] - The company aims to enhance its market position by increasing the proportion of new business and shifting from price competition to value creation, thereby building a green and low-carbon energy supply system for end users [6]