On November 2, Trina Solar held its Q3 2025 earnings briefing, demonstrating strong operational resilience during the quarter. The company significantly reduced losses in its module segment by focusing on high-value overseas markets, while its energy storage business entered a high-growth trajectory, injecting new momentum into overall performance thanks to a clear strategic focus and robust system integration capabilities.
Optimized Module Business Structure; Overseas Markets Drive Significant Loss Reduction
In the third quarter, the proportion of overseas module shipments increased to approximately 60%. This shift not only effectively mitigated volatility risks in certain regional markets but also boosted overall profitability quarter-over-quarter, benefiting from the relatively higher average selling prices (ASP) in overseas markets.
Beyond the successful geographic rebalancing, the company continued to lower production costs through more refined raw material procurement, supply chain management, and expense control measures, laying a solid foundation for future stable development.
Energy Storage Business Surges, Ample Orders Secure High Growth Prospects
Compared to the steady recovery of the module business, Trina Solar’s energy storage segment has undoubtedly become the most prominent growth driver. Against the backdrop of robust global energy storage market growth, the company set its full-year 2025 energy storage shipment target at 8 GWh, with 2026 planned shipments nearly doubling from this year’s baseline.
Currently, Trina Solar’s signed overseas energy storage order backlog exceeds 10 GWh, with these orders scheduled for concentrated delivery between 2025 and 2026. The company strategically focuses on high-margin overseas markets such as the United States, Europe, and the Middle East & Africa. The sustained positive performance stems from increased customer conversion rates under its “Solar + Storage” integration strategy, the securing of major overseas customer orders, and cost reductions and efficiency gains achieved through technological iteration and supply chain optimization.
Full-Stack In-House R&D Capabilities Build Core Barrier, Empowering Global Expansion
As a core competency of its system integration, Trina Solar has achieved a high degree of self-sufficiency in key components, with 100% of the battery cells for its energy storage systems now supplied in-house. This full-stack capability—encompassing R&D, production, and delivery from cells to DC containers and AC-side systems—ensures high compatibility and product consistency, significantly enhances project execution and delivery efficiency, and serves as a key advantage for rapidly expanding into overseas markets with high entry barriers.
Furthermore, Trina Solar is actively expanding into promising emerging sectors. Leveraging scenario-based integrated solar and storage smart energy solutions, the company is deeply empowering the green computing transition of data centers. Its jointly developed Three-River-Source Green Power & Intelligent Computing Integration demonstration project with China Unicom has become an industry benchmark.
