Who are Trina Solar's main competitors?

Named competitors: LONGi Green Energy (601012.SS), JinkoSolar (688223.SS), JA Solar Technology (002459.SZ), Canadian Solar/CSI Solar (688472.SS), First Solar (FSLR). The cockpit's measured peer set (industry) also includes Loongson Technology (688047.SS), Allwinner Technology (300458.SZ), Soitec (SOI.PA), Chengdu Ultra Pure Applied Materials (301717.SZ), Jiangsu Leadmicro Nano Technology (688147.SS), eMemory Technology (3529.TWO).

How has Trina Solar stock performed?

Over six months to 6 Nov 2026 the shares returned -36.0% against -28.5% for the median peer; over one year -37.3%.

← CockpitCompetitor Analysis › 688599.SS Trina Solar Ltd Class AOpen in the cockpit ↗

Trina Solar Ltd Class A688599.SSCompetitor analysis, valuation and peers

China · CNY·Information Technology›Semiconductors

One of the world's largest makers of solar photovoltaic modules, cells and wafers, also selling energy-storage systems.

≈ A Chinese First Solar, at much larger global scaleMomentum weak 21

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$3.90B

US dollars, full cap

Free float

59%

of shares outstanding

$/day

$52.0M

20-day average traded

Fwd P/E

n/m

no positive forecast

ROIC−WACC

-9.3 pp

WACC 5.3%

Hurdle

-22 pp

Req g minus delivered

Next earnings

168 days

23 Apr 2027

Close · CNYCN¥11.11

1D-1.2%

1W+10.2%

1M+2.4%

3M-22.2%

6M-36.0%

YTD-32.9%

1Y-37.3%

ATR %4.1%

52w lowhigh54.2% off high

What Trina Solar does

One of the world's largest makers of solar photovoltaic modules, cells and wafers, also selling energy-storage systems.

Sells solar modules in volume to project developers and installers, so earnings follow module prices and shipment volume, with trackers, storage systems and project development as side lines. Founder Gao Jifan controls it. It listed on Shanghai's STAR market in 2020 after taking itself private from the NYSE in 2016.

In one line: A Chinese First Solar, at much larger global scale.

Products and services

Solar modules
Solar cells/wafers
Battery energy storage systems
Solar trackers/EPC

Customers

Utility-scale solar developers
Commercial/residential installers worldwide
Grid-scale storage operators

Where it sits in the supply chain

Information Technology
Solar/renewables manufacturing
PV modules and storage

What could go right

Global solar/storage installation growth

What could go wrong

Panel price deflation/oversupply
US/EU trade tariffs on Chinese solar

Moat: narrow (scale, brand, distribution). Top-tier global brand and scale in a commoditized, cyclical panel-manufacturing industry.

Headquarters: Changzhou, China · Founded: 1997 · Employees: 24,840

Named competitors

Trina Solar at a glance

Size Trina Solar (688599.SS) is a China Information Technology company (Semiconductors) with a market value of $3.90B, the 657th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.11 on 6 Nov 2026.

Performance Over six months the shares fell 36.0%, against -28.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.

Growth Revenue fell 3.0% over the last twelve months (peer median +24.4%); the operating margin is -9.1% (peer median 3.0%).

Valuation It trades at 0.9× enterprise value to sales against a peer median of 6.3× (2nd cheapest of 21).

Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -22 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 9.3 points below its cost of capital (5.3% WACC).

Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Trina Solar against the median of its 20 peers (local-currency closes).

Trina Solar financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥65.0B	CN¥66.8B	CN¥80.2B	CN¥113B	CN¥85.0B
Revenue growth	—	-17%	-29%	+33%	—
Gross profit	CN¥7.22B	CN¥2.67B	CN¥6.93B	CN¥16.4B	CN¥10.9B
EBITDA	n/a	CN¥600M	CN¥2.93B	CN¥10.6B	CN¥6.73B
Net income	-CN¥4.77B	-CN¥7.03B	-CN¥3.41B	CN¥5.53B	CN¥3.68B
Free cash flow	CN¥3.90B	CN¥2.27B	-CN¥4.32B	CN¥6.32B	CN¥1.15B
Capital expenditure	CN¥4.87B	CN¥4.67B	CN¥13.3B	CN¥19.0B	CN¥8.11B
Total debt	CN¥46.6B	CN¥48.7B	CN¥53.3B	CN¥46.9B	CN¥38.6B

Quarterly statements and history in the cockpit →

Trina Solar competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Trina Solar is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Trina Solar is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Trina Solar is the large dot.

Trina Solar competitors and peer comparison

Head to head with its named competitors (688599.SS vs 601012.SS vs 688223.SS vs 002459.SZ)
Company	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g
Trina Solar 688599.SS	$3.90B	-36%	-3%	-9%	0.9×	-4.3%
LONGi Green Energy Technology 601012.SS	$14.1B	-25%	-16%	-12%	1.4×	n/a
Jinko Solar 688223.SS	$6.73B	-34%	-18%	-11%	1.3×	n/a
JA Solar Technology 002459.SZ	$3.50B	-35%	-23%	n/a	1.5×	-20.3%
CSI Solar 688472.SS	$4.87B	-37%	-36%	-2%	1.6×	n/a
First Solar FSLR	$21.6B	-9%	-1%	39%	4.0×	12.4%

How Trina Solar compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Trina Solar against its 20 peers (data as of 6 Nov 2026)
Measure	688599.SS	Peer median	Rank in peer set
1-month return	+2.4%	-21.4%	4th highest of 21
6-month return	-36.0%	-28.5%	8th lowest of 20
Distance from 52-week high	-54.2%	-54.4%	10th highest of 21
Revenue growth (TTM)	-3.0%	+24.4%	5th lowest of 21
Operating margin	-9.1%	3.0%	3rd lowest of 20
EV / Sales	0.9×	6.3×	2nd cheapest of 21
Growth the price implies (Req g, 7 yrs)	-4.3%	29.5%	2nd least demanding of 7
Growth delivered (Del g)	+17.9%	+8.8%	2nd highest of 7
Hurdle (Req g minus delivered)	-22.2 pp	+25.5 pp	2nd least demanding of 7
ROIC minus cost of capital	-9.3 pp	-8.0 pp	9th lowest of 19

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g	Delivered g
Trina Solar 688599.SS	China	$3.90B	-36%	-3%	-9%	0.9×	-4.3%	+17.9%
Loongson Technology 688047.SS	China	$3.86B	-44%	+24%	-76%	37.5×	n/a	n/a
Allwinner Technology 300458.SZ	China	$4.02B	-25%	+26%	15%	7.5×	n/a	n/a
Soitec SOI.PA	France	$3.79B	-38%	-34%	-6%	5.8×	25.0%	+0.3%
Chengdu Ultra Pure Applied Materials 301717.SZ	China	$4.03B	n/a	+93%	42%	50.3×	n/a	n/a
Jiangsu Leadmicro Nano Technology 688147.SS	China	$4.06B	-26%	-5%	3%	10.0×	n/a	n/a
eMemory Technology 3529.TWO	Taiwan	$4.17B	-58%	+17%	61%	30.2×	32.2%	+16.7%
Nordic Semiconductor NOD.OL	Norway	$3.62B	-12%	+15%	8%	4.1×	n/a	n/a
Linktel Technologies 301205.SZ	China	$3.60B	-39%	+54%	3%	14.9×	n/a	n/a
Shanghai Aiko Solar Energy 600732.SS	China	$4.23B	-13%	+25%	-8%	2.5×	n/a	n/a
Suzhou Novosense Microelectronics 688052.SS	China	$3.60B	-15%	+77%	-2%	4.4×	n/a	n/a
Hunan Goke Microelectronics 300672.SZ	China	$4.24B	-27%	+54%	5%	9.2×	46.0%	+19.7%
Applied Optoelectronics AAOI	United States	$4.26B	-66%	+62%	-11%	6.8×	n/a	n/a
Suzhou Novosense Microlectronics 2676.HK	Hong Kong	$3.57B	-28%	+86%	-2%	4.5×	n/a	n/a
Premier Energies PREMIERENE.NS	India	$4.28B	-13%	+32%	25%	4.6×	n/a	n/a
Diodes DIOD	United States	$3.56B	-31%	+18%	5%	2.0×	34.0%	+3.8%
Hangzhou Lion Electronics 605358.SS	China	$3.55B	-25%	+24%	-1%	6.7×	n/a	n/a
Hanwha Solutions 009830.KS	South Korea	$4.30B	-49%	+14%	0%	0.4×	n/a	n/a
JA Solar Technology 002459.SZ	China	$3.50B	-35%	-23%	n/a	1.5×	-20.3%	+13.7%
Shenzhen Goodix Technology 603160.SS	China	$4.35B	-2%	-7%	6%	5.5×	26.7%	-6.8%
Suzhou Everbright Photonics 688048.SS	China	$3.48B	-63%	+88%	-1%	29.4×	n/a	n/a

Questions

Who are Trina Solar's main competitors?: Named competitors: LONGi Green Energy (601012.SS), JinkoSolar (688223.SS), JA Solar Technology (002459.SZ), Canadian Solar/CSI Solar (688472.SS), First Solar (FSLR). The cockpit's measured peer set (industry) also includes Loongson Technology (688047.SS), Allwinner Technology (300458.SZ), Soitec (SOI.PA), Chengdu Ultra Pure Applied Materials (301717.SZ), Jiangsu Leadmicro Nano Technology (688147.SS), eMemory Technology (3529.TWO).
Is Trina Solar expensive compared with its peers?: On ev / sales it trades at 0.9× against a peer median of 6.3×, 2nd cheapest of 21 in its peer set. For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -22 pp: the price already allows for a slowdown.
How has Trina Solar stock performed?: Over six months to 6 Nov 2026 the shares returned -36.0% against -28.5% for the median peer; over one year -37.3%.