On February 27, multiple Chinese photovoltaic (solar power) companies simultaneously released their 2024 performance reports. Three leading companies in the industry—Trina Solar, JinkoSolar, and Daqo New Energy—reported a combined non-GAAP net loss of 8.8 billion yuan (US$1.2 billion).
- JinkoSolar Holding Co., Ltd. reported total revenue of 92.62 billion yuan in 2024, a year-on-year decrease of 21.96 percent, with a net loss of 1.012 billion yuan.
- Xinjiang Daqo New Energy Co., Ltd. recorded total revenue of 80.33 billion yuan, down 29.15 percent from the previous year, with a net loss of 2.638 billion yuan. Its basic earnings per share (EPS) stood at -1.59 yuan, a 162.35 percent decline year-on-year.
- Trina Solar Co., Ltd. reported revenue of 74.11 billion yuan, a 54.62 percent drop year-on-year, with a net loss of 5.199 billion yuan. Its EPS was -1.27 yuan, reflecting a 147.04 percent decline.
According to Huaxia Energy Network’s report on March 1, the ten companies in the photovoltaic industry with the most losses collectively reported losses exceeding 50 billion yuan. Many companies blamed their losses on falling solar panel prices. Source: Epoch Times, March 2, 2025
https://www.epochtimes.com/gb/25/3/2/n14448431.htm