Trina Solar Announces 2020 Net Profit of 1.232 Billion Yuan, up 92% Year-on-Year

PVTIME – On February 24, Trina Solar released its earnings guidance for 2020. The company achieved total operating income of 29.5 billion yuan, a year-on-year increase of 26.51%; net profit attributable to the parent company of 1.23 billion yuan, a year-on-year increase of 92.25%; basic earnings per share of 0.64 yuan, an increase of 77.78% year-on-year; the weighted average return on equity was 9.12%, an increase of 3.59 percentage points year-on-year.

According to the release, relying on its leading innovation capabilities and product advantages, Trina Solar’s global layout and advanced production capacity scale advantages enabled its photovoltaic product business to develop rapidly and achieve a substantial increase in operating income over the same period last year.

At the same time, thanks to its long-term promotion of globalization and brand strategy, the company’s global sales and service capabilities are outstanding. During the reporting period, the company’s photovoltaic module business sales increased significantly in high-margin overseas markets, which contributed to the company’s net profit growth.

The company also attributed its success to the overall thriving nature of the photovoltaic industry during the reporting period where the comprehensive advantages of leading enterprises were further accentuated as market share continued to concentrate at the top.