Total global revenue for the six month period reached US$ 1.836bn
Leading global PV and smart energy total solution provider Trina Solar recently announced the publishing of its half-year financial reports for 2020. The company has reported a 245.81% Year-on-Year Growth in net profits in 2020 compared with the same period in 2019, according to a press release.
The company’s performance shows a sharp increase in sales of PV products and PV systems, which the company attributes to its years of operational experience and effective risk control mechanisms.
Total revenue for the first six months of 2020 reached US$ 1.836bn (RMB-Chinese Renminbi 12.55bn), a year-on-year increase of 16.56%, while net profits—belonging to shareholders of the listed company—hit US$ 72mn (RMB 493mn, up 245.81% from the previous year.
“Having led the way into the ultra-high-efficiency era, Trina Solar now plans to step up the rollout of advanced production capacity and the application of innovative technologies in our products in order to boost profits further,” commented Jifan Gao, Chairman and CEO, Trina Solar.
“The Middle East and Africa region is one of the highest growth regions in the solar industry. Today we are witnessing a tremendous increase in demand for renewable energy in general and solar energy in specific across the region,” remarked Antonio Jimenez, Managing Director and Vice President, Trina Solar Middle East & Africa.
In the first half of 2020, Trina Solar invested US$ 125mn (RMB 860mn) in R&D. The company has accumulated 852 patents, including 310 innovation patents, and has consistently maintained its investment in the research and development of advanced technologies for high-efficiency cells, focusing on the development of cutting-edge, the press release concluded.
