EnergyTrend learned that on August 6, Trina Solar released its semi-annual report for 2026, disclosing its revenue performance and key business highlights for the first half of the year.
In the first half of the year, Trina Solar achieved operating revenue of approximately RMB 31.985 billion, a year-on-year increase of 2.99%. The net profit attributable to shareholders recorded a loss of RMB 270 million, but this represented a significant narrowing of losses compared with the same period last year, with a reduction of 90.75%. The net profit excluding non-recurring items posted a loss of RMB 2.890 billion.
The performance report shows that the significant improvement in attributable net profit was mainly due to a contribution of approximately RMB 2.62 billion in non-recurring gains from the disposal of part of the equity in T1 Energy and changes in the fair value of the remaining equity.
On a quarterly basis, Trina achieved an attributable net profit of RMB 13.2067 million in the second quarter, turning profitable on an attributable basis for the quarter, though it still posted a loss after excluding non-recurring items.
Cash flow was a key highlight of the report. During the reporting period, Trina's net cash flow from operating activities reached RMB 7.874 billion, a significant year-on-year increase of 175.14%, indicating a marked improvement in the quality of cash collections from operations. As of the end of the reporting period, Trina's total assets stood at RMB 114.785 billion, and net assets attributable to shareholders of the listed company were RMB 20.684 billion.
In its PV business, Trina Solar shipped over 25 GW of solar modules in the first half, with cumulative shipments of 210mm modules exceeding 260 GW. The company continues to deepen its presence in high-value markets, and the share of high-quality orders is steadily increasing.
In addition, Trina's energy storage business delivered impressive performance, with cumulative global deliveries exceeding 25 GWh. The business grew at a year-on-year rate of over 300% in the first quarter. Both energy storage and distributed systems businesses generated positive profits and have become important growth drivers for Trina.
Trina also revealed that on the technology R&D front, the company maintains high investment to continuously consolidate its technological advantages. In the first half of 2026, Trina invested RMB 2.111 billion in R&D, accounting for 6.60% of its operating revenue. Additionally, Trina added 419 new patents during the period and continues to advance the R&D iteration of TOPCon 3.0, THBC cells, and metallization cost-reduction technologies such as silver-coated copper and copper pastes.
In response to the current industry development situation, Trina Solar also highlighted relevant operational risks in its financial report. Trina stated that the current PV industry faces overcapacity, with product prices continuing to decline, leading to uncertainty in the recovery of profitability in its core module business. Meanwhile, changes in the overseas geopolitical environment, trade policies, and fluctuations in the fair value of equity assets may also impact the company's operating performance. Trina will rely on its integrated solar-plus-storage business structure, continuously optimize its product mix, enhance global competitiveness, and actively address industry cycle challenges.
Source：EnergyTrend