on March 5, at the deliberation meeting of the Jiangsu delegation to the second session of the 14th National people's Congress, Gao Jifan, deputy to the National people's Congress and chairman of Trine Solar, mentioned in his report: "to promote the high-quality development of China's photovoltaic industry, in addition to mastering key technologies, it is also necessary for the whole industrial chain to become bigger and stronger. Tianhe Solar is the main enterprise of photovoltaic industry in Jiangsu's 50 industrial chains. In order to cultivate advantageous industries that lead the world, the whole industrial chain must be bigger and stronger in order to go far. By initiating the establishment of China's new energy storage industry innovation alliance, we have strengthened the innovation synergy with upstream and downstream enterprises in the industrial chain, and promoted the formation of a new ecology of high-quality development industry jointly built by consultation."

Why did Tran become the main chain enterprise?

A few days ago, Trine Solar (688599.SH) released a performance bulletin. The company's total operating income in 2023 was 113.51 billion yuan, an increase of 33.46 over the previous year; the net profit attributable to the parent company was 5.561 billion yuan, an increase of 51.12 over the previous year.%. During the reporting period, the company's financial status was good, with total assets of 120.704 billion yuan, an increase of 34.15 over the beginning of the year; the owner's equity attributable to shareholders of listed companies was 31.531 billion yuan, an increase of 19.71 over the beginning of the year.

judging from the financial data published in the industry, trina solar energy has become the third photovoltaic enterprise with a revenue of over 100 billion yuan after tongwei shares (600438.SH) and longji green energy (601012.SH).

regarding the overall performance in 2023, the company explained that during the reporting period, the sales proportion of TOPCon component products of the company increased significantly due to the substantial increase of n-type advanced production capacity. Sales of high-power 210 series photovoltaic products have greatly increased and have been recognized by the market. The gradual release of self-produced n-type silicon wafer production capacity further reduces the comprehensive cost of the company's component products. Despite the changes in the supply and demand relationship of the industry in the second half of last year, the overall price of the photovoltaic industry chain was fluctuating downward trend, the company continued to play a global brand, channel advantages and advantages in the distribution and distribution market, photovoltaic modules, brackets and distributed systems sales increased significantly, business performance further improved.

In fact, Trina Solar's performance growth trend has been apparent in the first three quarters.

Specifically, in terms of components, Trina Solar had previously expected 65-70GW of component shipments in 2023. According to disclosures, component shipments in the first three quarters of 2023 were 45-46GW, up more than 58% year-on-year. The company said the component release contributed the most to Trina Solar's performance growth last year. In fact, Trina Solar has officially announced that the company's 210 Extreme series of modules has shipped a total of 100GW. It is understood that Trina Solar will release 210 Extreme series of modules in February 2022. It is the first photovoltaic module enterprise in the industry to adopt 210mm size technology. At present, it has launched Extreme 670W and Extreme N 700W + series of modules.

As for the bracket, in the first three quarters of 2023, Trina Solar's cumulative bracket shipments reached 5.6GW. Up to now, SkyTeam has been tracking the sales of 1P products for 2 years, with global shipments exceeding 3.3GW and global production capacity exceeding 10GW. On distributed photovoltaics, Trina Solar is currently operating its subsidiary Trina Fujia spin-off listing.

under the haze of photovoltaic overcapacity and price competition, trinat solar actively invested in the construction of integrated advanced production capacity. During the reporting period, the company signed a memorandum of cooperation with ADPorts and Jiangsu Haitou, planning a production capacity of 50000 tons of silicon, 30GW silicon wafers and 5GW battery components. In addition, the company's Huai'an base phase II 10GWN project will be fully put into operation in October 2023, Huai'an base phase III 10GW project will also be put into operation.

"We believe that the concentration of the industry will further increase in 2024, with the market share of the industry leader represented by SkyTeam increasing. At the same time, integrated manufacturers with stronger component sales capabilities will have a more obvious operating rate advantage in their upstream capacity relative to the industry, which will also bring a better cost advantage." At the performance presentation meeting in December last year, the company believes that the market share and cost advantages of leading integrated enterprises are expected to increase in the future.