- Trina Solar increased its operating income in H1/2021 by 61% to RMB 20.18 billion
- Its R&D expenses were a total of RMB 1.22 billion while its net profit went up 43.17% over previous year
- The company shipped 10.5 GW solar modules, comprising more than 5 GW of 210mm sized solar modules
Trina Solar, the integrated solar PV products manufacturer from China, increased its annual revenues for the period H1/2021 by 60.91% to RMB 20.18 billion, while growing its net profit by 43.17%. Operating income grew mainly due to increase in sales of PV modules, system products and PV power plants.
It made RMB 1.22 billion investment on its R&D activities during the reporting period.
During H1/2021, its total shipments exceeded 10.5 GW capacity, with 210mm sized modules accounting for over 5 GW. On YoY basis, its shipments grew by over 79% compared to 5.84 GW a year back (see Trina Solar Increased H1/2020 Shipments By 37% YoY).
Management confirms its total solar cell production capacity is expected to reach about 35 GW by the end of 2021, with the share of 210mm wafer sized cells accounting for over 70% share. As for modules, the manufacturing capacity is likely to reach about 50 GW by the end of 2021. This increase in overall capacity will further improve the group’s profitability, it added.
Trina Solar said during the first 2 quarters of 2021, module manufacturers experienced substantial price increase in raw materials which greatly affected their operations, but added that since it has a mature supply chain and risk management system, it was able to proactively respond to the challenges and achieved good results.
A few weeks back, PV InfoLink released its solar shipment ranking for H1/2021 placing Trina Solar next to LONGi Solar on 2nd spot (see LONGi & Tongwei Top PV InfoLink’s H1/2021 Ranking).