Recently, photovoltaic companies have announced their annual reports for 2025 and their performance in the first quarter of 2026. Digital New Energy DataBM. Com has tracked the annual reports and quarterly reports of many photovoltaic enterprises. For more information, please click Longji, Jingao, GCL Integration and Hongyuan Green Energy released their 2025 performance and the first quarterly report of 2026! Databm. Com/news/On the evening of 67338474748916115.4
29, four leading companies, Tongwei Stock, Daquan Energy, Jingke Energy and Trina Solar Energy, released their annual reports for 2025 and the first quarter of 2026.
In 2025
, Tongwei achieved a revenue of 84.128 billion yuan, down 8.55% year-on-year, and a net profit loss of 9.553 billion yuan, down 35.73% year-on-year; Net profit loss after deduction of non-profits amounted to RMB9.875 billion, representing a year-on-year decrease of 39.
Source: 2025 Annual Report of Tongwei Co., Ltd. Unit: RMB
In this regard, Tongwei Co., Ltd. said that the phased imbalance between supply and demand in the photovoltaic industry has not been fundamentally alleviated, the operating rate of each link in the industrial chain has declined, and the product price has continued to decline year-on-year. Silver and other core In 2025, the gross profit rate of Tongwei's photovoltaic business was -1. The gross profit rate of photovoltaic cells, modules and related businesses was -0.38% . The gross profit rate of high purity silicon, chemical industry and related business is -5.38% , and the gross profit rate of photovoltaic power and related business is 50.2025 . Tongwei 's sales volume of high-purity silicon was 384,800 tons , down 17.71% year-on-year, and the domestic market share exceeded 30%, up 2 percentage points year-on-year; Battery sales were 103.03 GW , up 17.51% year-on-year, with a global market share of about 15%, of which battery sales in overseas markets were 16.73 GW, up 73% year-on-year; Component sales were 43.25 GW , of which overseas market sales were 9.2026. In the first quarter, Tongwei's revenue was 12.125 billion yuan, down 23.9% year-on-year and 37.91% year-on-year; Net profit loss was 2.444 billion yuan, 5.72% lower than same period last year, and 42.93% lower than previous year; The non-net profit loss was 2.560 billion yuan, a year-on-year decrease of 1.84%, a year-on-year decrease of 41. In 2025, the total revenue of Daqo Energy was 4.839 billion yuan, a year-on-year decrease of 34.71%; Net profit loss was RMB1.129 billion, representing a year-on-year decrease of 58.46% ; after deduction of non-net profit loss 11. year, Daqo Energy produced 123700 tons of polysilicon. The sales volume is 126700 tons , and the gross profit rate is -3. The annual report shows that Daquan Energy has formed a total revenue of 189 million yuan in the first quarter of 2026. Decreased by 79.22% over the same period last year; net profit loss of 801 million yuan, year-on-year loss expansion ; For the decline in the first quarter performance, Daqo Energy explained that (in the first quarter of 2026, the photovoltaic industry) the price game and the slowdown in shipment led to a decline in sales volume during the reporting period compared with the same period last year; while the decline in polysilicon prices and the loss of inventory depreciation reserve at the end of the period led to a decline in profits. Jinko Energy In 2025, Jinko Energy achieved a revenue of 65.492 billion yuan, a year-on-year decline of 29.18%; a net profit loss of 6.882 billion yuan, a year-on-year change from profit to loss, a decline of 705.6.11% ; For the decline in performance, JinkoSolar said that it was mainly due to the intensified competition in the photovoltaic market and the continuous decline in the price of photovoltaic products, which led to the decline in the main business income. In 2025, the gross profit margin of Jinko Energy photovoltaic products is-0. The annual report shows that in 2025, the shipment of Jinko Energy components will reach 86. The company has formed an integrated production capacity of about 100GW (from silicon wafers to components), of which the domestic integrated production capacity is about 86 GW and the overseas integrated production capacity is about 14 GW. Jingke Energy disclosed in its annual report that the company's target for 2026 is 75-85 GW for annual component shipments , and the annual energy storage system shipments will strive to double year-on-year. In the first quarter of 2026, JinkoSolar's operating income was 12.248 billion yuan, down 11.52% year-on-year and 30.04% quarter-on-quarter; its net profit loss was 1.350 billion yuan, down 54.41% year-on-year and 54.41% quarter-on-quarter; Deducting non-net profit loss of 1.414 billion yuan, reducing losses year-on-year and month-on-month 54. Jingke Energy disclosed that photovoltaic modules were shipped in the first quarter of 2026 13. Energy storage business continued to maintain high growth. Delivery of energy storage system products in the first quarter 1. Overall gross profit margin in the first quarter of 2026 increased by 9.In the second quarter of 2026, the company expects module shipments to be 14-16GW . Trina Solar In 2025, Trina Solar achieved revenue of 66.975 billion yuan, down 16.61% year-on-year; net profit loss of 7.031 billion yuan, year-on-year loss margin expanded ; As for the decline in performance in 2025, Trina Solar explained: During the reporting period, the PV industry was still facing a phased imbalance between supply and demand, the operating rate of each link in the industrial chain was at a low level, the market competition was further intensified, and the international trade protection policy continued to affect. In the first half of the year, the price of photovoltaic products was generally under pressure compared with the same period last year. Although the price of photovoltaic products in the second half of the year gradually increased under the promotion of anti-involution work in the industry, the annual profitability of the company's module business declined compared with the same period last year due to the impact of the rapid increase in the cost of key raw materials such as silicon materials and silver paste, and the company's operating performance in 2025 was still a loss. In 2025, Trina Solar's annual module shipments were 67. In terms of energy storage, as of December 31, 2025, Trina Solar's energy storage shipments exceeded 8G Wh , of which overseas shipments accounted for more than 60%. The company's energy storage business has more than 12 GWh of orders in hand overseas. The annual report shows that in 2025, the gross profit rate of Trina Solar photovoltaic products is-1.42% , and the gross profit rate of energy storage business is 14.2026. Trina Solar's total revenue was RMB16.830 billion, representing a year-on-year increase of 17.4% and a quarter-on-quarter decrease of 1.03%; net profit loss was RMB283 million, representing a year-on-year decrease of loss and a quarter-on-quarter decrease of loss of 90%; net profit loss after deduction of non-profits was RMB1.467 billion, representing a year-on-year increase of loss and a quarter-on-quarter decrease of loss of 52.5%.
浙公网安备33010802003254号