Recently, Trina Solar, Guosheng Technology, Drinda, and Hongyuan Green Energy successively disclosed their performance forecasts for the first half of 2026.
Trina Solar
On the evening of July 16, Trina Solar released its H1 2026 performance forecast. The company expects its net profit attributable to owners of the parent company to show a loss of RMB 180 million to RMB 360 million for the first half of 2026, representing a significant year-on-year reduction in losses. Net profit after deducting non-recurring gains and losses is forecasted to be a loss of RMB 2.78 billion to RMB 2.96 billion.
Explaining the drivers behind these figures, Trina Solar stated that during the first half of the year, the company continued to deepen its presence in high-value markets, with the proportion of high-margin orders in its module business steadily rising and profitability continuously improving. Simultaneously, the company accelerated the transformation of its energy storage and system solutions businesses. The energy storage and distributed system segments achieved positive profits, further enhancing synergies across its diversified business operations.
In addition, the company realized investment gains from disposing of certain equity assets previously acquired through strategic transactions. Furthermore, the fair value of its remaining equity assets appreciated, generating gains from changes in fair value, which positively contributed to net profit for the reporting period.
Guosheng Technology
On July 15, Guosheng Technology published its H1 2026 performance forecast. The company projects its net profit attributable to shareholders of the listed company to be a loss of RMB 75 million to RMB 150 million in the first half of 2026. Net profit after deducting non-recurring gains and losses is estimated to be a loss of RMB 70 million to RMB 145 million.
Regarding the reasons for the projected loss, Guosheng Technology attributed it to the ongoing intensification of competition in the photovoltaic (PV) industry. The company operated below full capacity during the first half of the year, resulting in a low capacity utilization rate and high fixed overhead costs, which impaired overall profitability and led to a net loss for the period.
Drinda
On July 15, Drinda disclosed its H1 2026 performance forecast. The company expects its net profit attributable to shareholders of the listed company to result in a loss of RMB 180 million to RMB 270 million in the first half of 2026. Net profit after deducting non-recurring gains and losses is forecasted to be a loss of RMB 280 million to RMB 380 million.
Affected by factors such as temporary overcapacity in the PV industry, adjustments in electricity pricing policies, a decline in domestic installation volume, and overseas trade restrictions, the supply-demand balance across the industry value chain saw no significant improvement in the first half of the year. Product prices remained persistently low, adversely impacting the company's operating performance.
Moving forward, the company plans to steadily advance its overseas production capacity layout and market expansion, promote iterative upgrades of core technologies, and consolidate the foundation of its primary business. Leveraging its technical accumulation and industrial resources, Drinda will also fully capitalize on its dual A+H capital market platform advantages to explore new PV application scenarios, lay out diversified emerging business segments, and actively cultivate new performance growth drivers.
Hongyuan Green Energy
On July 15, Hongyuan Green Energy released its H1 2026 performance forecast, projecting a net profit attributable to owners of the parent company to be a loss of RMB 590 million to RMB 690 million. Net profit after deducting non-recurring gains and losses is expected to be a loss of RMB 400 million to RMB 500 million. Compared with the same period last year, the company's net losses for the first half of this year expanded further.
During the reporting period, the structural supply-demand mismatch in the PV industry remained unalleviated. Product prices across the supply chain plummeted compared to the beginning of the year, severely compressing corporate profit margins. The rapid fall in product prices served as the main factor weighting down the company's operational performance.
Facing these challenges, the company continues to push forward technological iterations and accelerate its global strategic layout, relying on deep integration across the full industry chain and innovation-driven development to bolster its comprehensive competitiveness. Hongyuan Green Energy will maintain a balanced approach between financial prudence and operational efficiency to ensure a healthy and controllable financial status. Furthermore, it will expedite the upgrading of production lines toward high-efficiency technology platforms to steadily enhance product competitiveness, while tackling key technical bottlenecks—such as silver consumption and energy use—to further advance the sophistication of its manufacturing capacity.
Source：EnergyTrend