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Jefferies Adjusts Trina Solar's Price Target to 21.71 Yuan From 26.12 Yuan, Keeps at Buy
Trina Solar Co., Ltd. (SHSE:688599) Analysts Just Slashed This Year's Estimates
The Returns At Trina Solar (SHSE:688599) Aren't Growing
trina solar co., ltd. (688599.SH): repurchased 0.42% of shares
Trina Solar Co., Ltd. (688599.SH) announced that as of August 31, 2024, the company repurchased 9,221,140 shares of the company through the Shanghai Stock Exchange trading system through centralized bidding trading, accounting for 0.42% of the total share capital of the company, which was 2,179,365,202 shares. The highest price for the repurchase transaction was 17.13 yuan/share, and the lowest price was 15.91 yuan/share. The total amount of funds paid was RMB 151,970,243.09 (excluding stamp duty, transaction commission, and other trading expenses).
In the first half of the year, Trina Solar Co., Ltd. led the industry in component shipments with a nearly 300% year-on-year growth in energy storage shipments.
The advantages of photovoltaic and energy storage integration are prominent. Changzhou, September 2, 2024 / PRNewswire/ - On August 30, Trina Solar Co., Ltd. disclosed its semi-annual report for 2024, achieving revenue of 42.968 billion yuan and a net income attributable to the parent company of 0.526 billion yuan during the reporting period, with two consecutive profitable quarters. During the reporting period, Trina Solar Co., Ltd. coordinated multiple business sectors, led in multiple product tracks, and shipped 34GW of photovoltaic modules in the first half of the year, with energy storage business shipments of 1.7GWh, 3.2GW of bracket business shipments, and distributed system business shipments exceeding 3.2GW. The scale of photovoltaic power station operations reached 14GW, and the photovoltaic and energy storage coordinated solution successfully addressed operating issues.
Component quantity increased and prices decreased. Trina Solar Co., Ltd. saw a decline in revenue and net profit in the first half of the year, with inventory value exceeding 30 billion yuan.
①In the first half of the year, the company's module shipments were 34GW, a year-on-year increase of over 25%; correspondingly, module revenue was 30.057 billion yuan, a year-on-year decrease of 11.52%. During the reporting period, the company recorded inventory impairment losses and impairment losses on contract performance costs of 0.502 billion yuan; ②The company's Indonesia base (1GW batteries, 1GW modules) and usa base (5GW modules) are expected to be put into operation in the second half of 2024.
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