(Yicai) Oct. 31 -- Shares of Trina Solar jumped after the Chinese solar energy equipment giant said it has secured an order from a European client that will likely positively impact its future operating performance, while also reporting its net loss narrowed last quarter.

Trina Solar [SHA: 688599] rose 5.5 percent to CNY20.62 (USD2.90) a share as of 10.50 a.m. in Shanghai today.

Trina Solar's energy storage unit signed a contract to provide a total of over one gigawatt-hour of energy storage equipment to a European client, the Changzhou-based parent firm announced late yesterday, without disclosing the contract value, the client's name, or the delivery time.

The facility adopts Trina Solar's next-generation flexible energy storage battery cabinet Elementa 2 Pro, which can increase the energy density of energy storage stations by 12 percent, the company said, adding that it is also equipped with an artificial intelligence-powered liquid cooling system that can control the temperature difference inside the cabinet within 2.5 degrees Celsius and further cut the cost of electricity it sends out.

On the same day, Trina Solar said its net loss shrank 6.6 percent to CNY1.3 billion (USD182.8 million) in the three months ended Sept. 30 from a year earlier, while its operating revenue dropped 6.3 percent to CNY18.9 billion (USD2.6 billion). In addition, its net loss narrowed by almost 20 percent from the second quarter.

Trina Solar's improved operating performance in the third quarter was mainly due to the positive impact from the stabilization and recovery of the price of core solar modules and the gradual fulfillment of energy storage equipment orders, the company pointed out.

For the first nine months of this year, Trina Solar's net loss was CNY4.2 billion on operating income of nearly CNY50 billion, which was down 21 percent from a year ago.

The sharp drop in product prices has led to industry-wide adjustments in China's photovoltaics sector, causing the earnings of industry leaders such as Trina Solar to tumble.

Trina Solar's energy storage business focuses on solar-storage integrated application scenarios. Its relevant operating revenue was CNY2.3 billion last year, accounting for only 2.1 percent of the total, the firm said in its annual financial report.

According to a report by Securities Times released in early June, Trina Solar's energy storage equipment shipments topped 4.3 GWh in 2024.

Editor: Martin Kadiev