In their Q3 2024 financial reports, China’s top solar companies – JinkoSolar, JA Solar, LONGi, and Trina Solar – showed varied performance as they navigated industry pressures. JinkoSolar faced a sharp 99.41% year-on-year profit drop, posting a net profit of CNY 14.87 million ($2.09 million) and a 22.09% revenue decline to CNY 24.519 billion. Over the first nine months, JinkoSolar’s revenue totaled CNY 71.77 billion, down 15.66%, with module shipments reaching 67.65 GW, primarily n-type. It aims for annual shipments of up to 100 GW.
JA Solar saw a CNY 484 million loss year-to-date, contrasting with CNY 6.765 billion profit from last year, despite a 51% increase in shipments to 57 GW. LONGi reported a 37.73% revenue drop to CNY 58.593 billion and a CNY 6.505 billion net loss, though silicon wafer sales totaled 82.80 GW, and BC series modules rose 17.7% in shipments.
Trina Solar’s revenue fell by 22.16% to CNY 63.147 billion, with a CNY 847 million net loss, but it did not disclose detailed shipment volumes.
Meanwhile, Huasun Energy launched its first heterojunction (HJT) cells from its Xuancheng Phase V facility, aiming for mass production efficiencies of 26.24%.
