Some loss-making orders were abandoned, and 14.3GW of H1 components were shipped

The announcement shows that in the first quarter of 2024, ArTUS achieved 6.3GW of component shipments, an increase of 3.28% over the same period last year, of which the North American market accounted for more than 20%. Approximately 8GW of components are expected to be shipped in the second quarter of 2024, an increase of 27% sequentially.

According to regional distribution, shipments in the first quarter were from high to low in China, the United States, Europe and Asia-Pacific regions, of which the United States accounted for more than 20%. Distribution by N/P type, N type shipments accounted for nearly half.

Artes said that under the current situation, the company's photovoltaic business is mainly to do a comprehensive balance between price and shipment, give up some loss orders, take the initiative to reduce some photovoltaic product shipments, take profit as a priority, and maintain the company's operational stability and financial health.

Energy storage business broke out, and large storage increased by 500% year-on-year

In addition to the photovoltaic business, Arthas has made great progress in the field of large storage, and the second main business, energy storage, has grown steadily.

It is reported that a large number of energy storage project reserves and signed energy storage contract orders in the early stage will begin large-scale delivery this year. In the first quarter of this year, the delivery of its large storage products has been basically the same as the whole year of 2023; In the second quarter, the company's delivery of large storage products is expected to maintain more than 50% growth compared to the first quarter.

For the full year of 2024, the company's shipments of large storage products are expected to reach 6-6.5GWH, an increase of about 500% compared to 2023.

The company has successfully delivered more than 5 gigawatt hours of energy storage solutions to markets in North America, Europe and Asia Pacific. As the global demand for advanced energy solutions continues to grow, the company is scaling up production to meet the needs of customers and partners.

The second half of the year will be better

According to Artes, the company has laid out its distribution network in major residential energy storage active areas such as North America, Europe and Japan, and simultaneously cooperated with new business areas such as power electronics to build a third or even more profit source point.

In June, the company entered into an agreement with D.R. Horton, the largest residential real estate developer in the United States, to provide communities in California with solar and energy storage products, including Atlas PV modules and EP Cube, a residential energy storage system.

As of the end of March this year, the monetary fund balance of Arthas was 18.714 billion yuan. As of the end of June, it has obtained various types of credit lines from banks of about 40.4 billion yuan, and the actual use of credit is about 14.9 billion yuan, with a credit rate of 37%.

It is worth noting that Artes also predicted that its performance in the second half of the year would be better than in the first half.

The forecast is based on the company's solar performance trends and performance in the first and second quarters, as well as the current order and delivery status of the company's energy storage business.trina solar panels