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Q3 Financial Highlights from China's PV Leaders: LONGi, Jinko, and Trina

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According to PV magazine, JinkoSolar reported a significant year-on-year decrease in its Q3 net profit, reaching CNY 14.87 million ($2.09 million), a 99.41% drop, alongside a 22.09% decline in revenue to CNY 24.519 billion. For the first nine months, revenue stood at CNY 71.77 billion, down 15.66%, with a net profit of CNY 1.215 billion. Jinko shipped 73.13 GW of PV products from January to September, 85% of which were n-type modules, showing a 31.29% growth over the previous year. The company aims for total shipments between 90 GW and 100 GW for the full year.


LONGi recorded CNY 58.593 billion in revenue for the first three quarters, a 37.73% decrease from last year, and a net loss of CNY 6.505 billion. Shipments included 82.80 GW of silicon wafers, 4.16 GW of monocrystalline cells, and 51.23 GW of modules, including 13.77 GW of the BC series, which rose 17.7% from the prior year.


Trina Solar posted a revenue of CNY 63.147 billion for the first nine months of 2024, down 22.16% year-on-year, with a net loss of CNY 847 million, a 116.67% decline. Specific PV product shipment volumes were not disclosed.


Huasun Energy launched the first heterojunction (HJT) solar cells from its Xuancheng Phase V 1 GW facility, achieving a mass production efficiency goal of 26.24%. The company is advancing key production techniques, such as textured surface treatments and ITO composite films, while developing specialized silver-copper paste for steel-nickel meshes to support its zero busbar (0BB) technology.


These Q3 reports highlight financial adjustments across major Chinese PV manufacturers, alongside notable strides in technological innovation and production efficiency.

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