China's Trina Solar Ltd increased its forecast for panel shipments this year as sales in its own country increased. Increase in sales was also felt in Japan. Trina Solar slowly lowered its exports to Europe where it faced difficulties with restrictions.
Trina Solar's shares rose 10% achieving a 15-month high. The company's major rivals JinkoSolar Holding Co Ltd and Canadian Solar, also gained with the newer markets. JinkoSolar finally achieved profit after a period of seven quarters, while Canadian Solar reported a forecasted profit for the year.
Trina solar announced a slight quarterly loss and said that it aimed to become profitable by the fourth quarter. However, it will highly depend on the costs of manufacturing and the selling price of panels. Gross margins increased to 11.6% in the second quarter from last year's 8.4%.
In a call with analysts, Chief Executive Jifan Gao said, " At least (we are) looking for operating margin profitability (in the third quarter)."
Join the Conversation