‘Solar Module Super League’ (SMSL) member Trina Solar reported an 18.66% increase in revenue for the first nine months of 2020 compared to the prior year period, setting the company on a path to exceed 2019 financial results in the fourth quarter after several years of annual revenue declines.
Trina Solar reported revenue of almost RMB 20 billion (US$2.96 million) for the first nine months of 2020, 18.66% higher than the prior year period.
The company had noted that expanded capacity and new product introductions, alongside higher international sales, as being behind the revenue increase.
Trina Solar also reported a net profit of RMB831.6 million (US$124.3 million) for the first nine months of 2020, a 118.94% increase over the prior year period.
This was due to higher PV module profit margins in key international markets as sales significantly increased during the reporting period.
The company has said separately that orders for its recently launched Vertex series modules had exceeded 2GW.