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Chinese Firm Trina Solar 2021 Net Profit Rise: A Breakdown

The vast grass is covered with solar panels
  • Trina Solar says its net profit for 2021 is likely to increase by 39.9% to 66.8% on annual basis
  • It would represent an increase of between RMB 491 million to RMB 821 million over the course of the year
  • The management attributes the expected growth to an increase in its market share for 210mm modules and growth in distributed solar segments

Chinese integrated solar PV manufacturer and tracker maker Trina Solar has released its preliminary financial forecast for the year 2021, expecting to report a net profit increase of 39.92% to 66.76% over the previous year.

According to a stock exchange filing by the company, the net profit is likely to increase by RMB 491 million to RMB 821 million to a total ranging between RMB 1.72 billion to RMB 2.05 billion.

The management basis its forecast on its market share having grown with 210mm sized solar modules and a substantial increase in its operating income over the previous year. Its distributed business sales, targeting residential as well as commercial and industrial markets, also witnessed significant growth during 2021, contributing to its overall operating income and net profit growth.

The ‘overall prosperity’ of the PV industry globally was relatively high as per the company thanks to high market demand. Audited financial results will be declared by the company at a later date.

Trina Solar had previously announced having increased net profit for H1/2021 by 43.17% having shipped 10.5 GW modules in the interim .

In 2020, Trina Solar shipped 15.91 GW solar modules and achieved 22 GW of total module production capacity, and reported operating income of RMB 29.418 billion with an annual growth of 28.55%.

Source from Taiyang News

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