JinkoSolar has released its 2024 profit forecast, forecasting net profit between CNY80 million ($10.9 million) and CNY120 million, marking a sharp decline from the previous year. The company reported a net profit of CNY7.44 billion in 2023. It blames its declining profits on fierce competition and rising trade barriers, but expects 2025 to bring industry consolidation, price stabilization and sustainable growth.
Tongwei has released its 2024 earnings forecast, forecasting a net loss between CNY7 billion and CNY7.5 billion, versus a 2023 profit of CNY13.57 billion. The company cited serious supply and demand imbalances at key stages of the PV production process as the main reason for the expected losses. According to the report, the expected downturn underlines the challenging market conditions the solar industry will face in 2024.
TBEA has released its 2024 profit forecast, estimating net profit at CNY3.9 billion to CNY4.3 billion, down from the previous year. The company’s Hong Kong-listed subsidiary negatively affected, and to a reduction in coal sales. prices. Despite these setbacks, TBEA’s transformer and new materials divisions have shown steady growth.
Daqo New Energy said its subsidiary in The estimate includes losses related to provisions for impairment of inventories and impairment of fixed assets. Daqo New Energy said it currently owns about 72.4% of Xinjiang Daqo shares, and most of its revenue and net profit is contributed by Xinjiang Daqo.
Xinte energy announced a profit warning in its preliminary assessment of fiscal 2024 results. It said it expects a net loss in the range of CNY 3.8 billion to CNY 4.1 billion, compared to a net profit attributable to CNY shareholders 4.35 billion in 2023.
Masdar said JinkoSolar and JA Solar will supply 5.2 GW of n-type tunnel oxide passivated contact (TOPCon) solar panels for their “all-weather” solar storage project with Abu Dhabi’s Emirates Water and Electricity Co. (EWEC). Each company will supply 2.6 GW of panels to ensure 30 years of efficient operation.
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