Trina Solar (688599) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached RMB 31.99 billion, up 2.99% year-over-year; net loss attributable to shareholders was RMB -269.86 million, a significant reduction from the prior year’s loss.

• Operating cash flow improved 175.14% year-over-year to RMB 5.07 billion.

• The company’s diversified business structure and global channel network supported industry-leading performance in PV products and system solutions.

• High-value market penetration and increased share of high-quality orders improved profitability in the PV module segment.

• Storage and distributed system businesses contributed positive profits, reinforcing the multi-business synergy.

Financial highlights

• Operating income: RMB 31.99 billion, up 2.99% year-over-year.

• Net loss attributable to shareholders: RMB -269.86 million, a 90.75% reduction in loss year-over-year.

• Operating cash flow: RMB 5.07 billion, up 175.14% year-over-year.

• Gross margin: 8.1% (calculated from segment data).

• Basic and diluted EPS: RMB -0.12, improved from RMB -1.34 year-over-year.

• Net assets attributable to shareholders: RMB 20.68 billion, down 3.61% from year-end.

• Total assets: RMB 114.78 billion, down 0.20% from year-end.

Outlook and guidance

• The company expects continued improvement in profitability, driven by high-value overseas orders and ongoing optimization of order structure.

• Storage business is on track to achieve the full-year shipment target of 16GWh, with robust order backlog.

• The company will continue to invest in next-generation PV and storage technologies, aiming to maintain its leadership in efficiency and innovation.