Trinasolar shipped over 32 GW of solar modules in H1 2025, nearly matching its H1 2024 volume
Its operating income fell 28% YoY, posting a RMB 2.92 billion net loss
Energy storage business expanded globally, with cumulative shipments surpassing 12 GWh
Tier I solar PV manufacturer from China, Trinasolar, shipped more than 32 GW of solar modules in H1 2025, nearly matching the 34 GW dispatched during the same period last year. Despite stable shipment volumes, the company reported a significant decline in both operating income and net profit, reflecting persistent pricing pressure in the global PV market.
Trinasolar’s H1 2025 operating income of RMB 31 billion ($4.3 billion) was down 27.72% year-on-year (YoY), as it reported a net loss of RMB 2.92 billion ($408 million). This represented a steep decline of 654.47% against a net profit of RMB 526.2 million ($735 million) in H1 2024 (see Trina Solar’s H1 2024 Module Shipments Grew By 26 Percent YoY).
“During the reporting period, the company maintained its core competitiveness in the photovoltaic module product business, and module sales continued to increase compared with the same period last year. However, due to the imbalance of supply and demand in the industry chain and the continued low market prices of photovoltaic products, the profitability of the module business declined,” stated Trinasolar while declaring H1 2025 results.
By the end of June 2025, the company’s cumulative 210 mm module shipments exceeded 200 GW.
Trinasolar’s energy storage system (ESS) business, on the other hand, grew with cumulative shipments exceeding 12 GWh by June 30, 2025, as it shipped to China, Europe, Asia Pacific, North America, the Middle East and Africa, and Latin America.
The company says it actively pursued overseas expansion in this domain in H1 2025, including to Chile, to which it shipped a single unit with 1.2 GWh capacity. The group’s ESS arm, Trina Storage, signed a strategic cooperation agreement with European EPC company Stiemo to jointly deploy GWh-scale systems in Eastern Europe over the next 2 to 3 years.
Expecting TOPCon to grow strong in the coming years, Trinasolar says its focus will be to continue its focus on this cell technology, while pursuing the goal of becoming a comprehensive service provider for the entire renewable energy supply chain across generation, transmission, utilization, and storage.