Trina Solar Continued to Suffer Operating Losses Amid Industry Overcapacity

Trina Solar is one of the four largest Chinese solar module producers. Like its competitors, Trina embraced a vertically integrated model covering wafer, cell, and module production. However, it maintains the lowest level of vertical integration among its leading competitors. By maintaining a smaller solar wafer capacity, Trina retains the flexibility to manage volatile input costs while staying asset-light compared with its fully integrated peers.