Industries
Solar PV Manufacturing
All research in Solar PV Manufacturing — 4 reports.
36/100
Trina Solar: Surviving the Solar Glut While the Old Profit Engine Is Still Underwater
Trina Solar is a Chinese solar manufacturer spanning modules, storage, system solutions, and digital energy, with 2025 module shipments of 67.879 GW keeping it in the industry's second tier. 2025 revenue fell 16.61% to RMB 66.98 billion with a RMB 7.03 billion net loss and a negative PV-product gross margin, while storage revenue grew 83.3% at a 14.69% gross margin, real new businesses that are still too small to carry the group. Rating Hold: at CNY 12.18 the stock sits inside the acceptable-hold band of CNY 10.8-14.4, above the ideal buy zone of CNY 9.0-9.8.
37/100
LONGi Green Energy: A Real Transition, Not Yet a Real Turnaround
LONGi Green Energy is a former monocrystalline-wafer champion pivoting its integrated solar manufacturing business toward back-contact (BC) modules and, since a January 2026 acquisition, early-stage energy storage. In 2025 revenue fell 14.8% to CNY 70.35bn with a CNY 6.42bn attributable net loss, wafers ran a negative 5.30% gross margin, and only the power-station segment stayed solidly profitable, even as BC module shipments reached 22.87GW and rose to 8.34GW of the 12.62GW shipped in the first quarter of 2026. Rating Hold: the balance sheet still holds CNY 53.35bn of cash against CNY 35.20bn of debt, but at CNY 13.12 the stock already prices in a successful transition that the financials have not yet delivered.
43/100
First Solar: A Deep Value-Investing Analysis
The leading U.S. thin-film solar manufacturer, whose order visibility, net-cash balance sheet and scarce policy position are all genuine advantages; but roughly $1.6 billion of 45X credits in 2025 all but dictated the level of reported earnings, and at the current $273.67 the stock already sits close to the optimistic scenario, with an ideal buy range of $140-185.
32/100
T1 Energy In-Depth Research Report
A U.S.-based solar module manufacturing platform spun out of FREYR's pivot, whose 2025 revenue jumped to 755 million dollars but came almost 100% from a single related-party customer, with unstable FCF, a material weakness in internal controls, and capacity expansion that still requires large external financing. Rating Watch: a high-expectation, high-dilution policy-and-expansion option that has yet to prove independent cash-flow quality.