Recently, JinkoSolar, LONGi Green Energy, and Trina Solar released records of their latest investor relations activities, disclosing the most recent updates on their operating conditions.
Jinko Solar
Jinko Solar has outlined a high-growth strategic plan for its energy storage business while achieving new breakthroughs in photovoltaic (PV) technology. The company remains optimistic about the global energy storage market, projecting that global installation demand will exceed 400GWh next year. Consequently, Jinko has set a target to double its energy storage shipments by 2026 and will continue to focus on high-profit markets in Europe and the United States.
Although the energy storage business did not achieve profitability in the first three quarters due to lags in revenue recognition, the situation is expected to improve significantly with the large-scale delivery of overseas orders in the fourth quarter and into next year.
Currently, the company possesses 17GWh of energy storage system capacity and 5GWh of battery cell capacity. By the end of 2026, Jinko expects to possess over 30GWh of system capacity, laying the foundation for future large-scale delivery. Meanwhile, the company maintains a strategy of keeping the self-supply ratio of battery cells under 40% to balance delivery resilience with technical reserves. Jinko has also stockpiled next-generation 58XAh cell technology, which has already rolled off the pilot line. In terms of PCS (Power Conversion Systems), BMS (Battery Management Systems), and EMS (Energy Management Systems), the company has preliminarily completed the development of self-researched products.
Furthermore, the PV business has seen frequent success. The new "Tiger 3" (Feihu 3) product secured onsite signings for 15GW, and the company set a new world record with a 27.79% TOPCon cell conversion efficiency, further consolidating its lead in the N-type technology era.
LONGi
LONGi is accelerating its strategic transition to the BC (Back Contact) technology route. Cumulative sales of BC modules reached 14.48GW in the first three quarters. By the end of 2025, the production capacity share of HPBC 2.0 is expected to exceed 50%, with full-year BC module shipments projected to account for over one-quarter of the total.
This transformation is already showing results at the operational level. The company expects gross profit and expenses from its main business to remain essentially flat in the fourth quarter. LONGi will continue to drive improvements in its operating conditions by increasing product gross margins and reducing expenses.
At the same time, LONGi is actively promoting the implementation of frontier technologies such as silver-free metallization. Over the years, the company has systematically evaluated various technical paths, including copper electroplating, patterned vacuum coating, and base metal pastes. In the next stage, the company will focus on the deep integration of equipment, materials, and processes to further enhance engineering maturity.
Trina Solar
Trina Solar has currently established a four-dimensional business matrix comprising PV products, energy storage, system solutions, and digital energy services. The company is transforming from a PV product manufacturer into a provider of integrated smart energy solutions for PV and energy storage, achieving high-quality technological innovation and ecological collaborative development.
In the energy storage sector, Trina has leveraged its full-stack capabilities—ranging from battery cells to DC cabins and AC-side systems—to continuously expand its business scale in the global market this year. Facing the current industry environment, the company is particularly bullish on the surging power demand driven by North American AI data centers and high-end manufacturing. It projects that shipments to the North American market will exceed 1GWh in 2025, with total global energy storage shipments expected to surpass 5GWh in the fourth quarter.
Regarding the PV business, Trina Solar indicated that TOPCon remains the current mainstream technology. Through inverted pyramid structures and advanced metallization technologies, they have significantly reduced silver consumption costs while increasing power output. Furthermore, the company has established a forward-looking exclusive partnership with Oxford PV to accelerate the industrialization of perovskite tandem technology.
Source：EnergyTrend
