162.14-195.61%! Trina Solar Expects Net Profit to Increase H1 2023

PVTIME – On 26 July 2023, Trina Solar (688599.SH), a leading global provider of integrated solar PV and smart energy solutions, announced its financial data for the first half of 2023 based on the preliminary calculations of its finance department.

In the first half of 2023, Trina Solar’s net profit attributable to owners of the parent company is expected to be 3,327,600,000 to 3,752,400,000 yuan, an increase of 2,058,213,600 to 2,483,136,000 yuan compared with the audited data in the first half of 2022, representing an increase of 162.14% to 195.61% year on year.

It is expected that net profit attributable to owners of the parent after extraordinary gain and loss for the first half of 2023 will be in the range of 3,502,600,000 to 3,927,400,000 yuan, an increase of 2,351,934,200 to 2,776,734,200 yuan, representing a year-on-year increase of 204.40% to 241.32% compared with the audited data in H1 2022.

The main reasons for the increase in performance in the period under review were the rapid development of Trina Solar’s photovoltaic product business, the significant growth in photovoltaic module shipments and sales revenue, especially the increased sales of 210 series high power photovoltaic products compared to the same period last year. Meanwhile, its costs were further reduced as a result of the gradual increase in the sufficient supply of upstream products such as wafer production. In addition, the costs of management, material procurement, logistics and transportation and many other steps were effectively controlled at a reasonable low level, which had a positive impact on increasing the Company’s profitability in the first half of 2022.

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