Record Module Shipments
First quarter total shipments were 19.1 gigawatts, with module shipment accounting for approximately 90%. Shipments to Indo-Pacific market grew by nearly 10% year-over-year and 150% sequentially, while shipments to North Asia increased by nearly 20% year-over-year.
Advancements in TOPCon Technology
By the end of the first quarter, the mass-produced cell efficiency for third-generation TOPCon products exceeded 26.6%. Laboratory efficiency for perovskite tandem solar cell based on TOPCon reached 34.22%, setting a new record.
Expansion in Energy Storage Shipments
In the first quarter, shipments of ESS exceeded 300 megawatt hours, a large increase compared to the same period last year. Expected shipments of ESS to be around 6 gigawatt hours for the full-year 2025.
Strong Cash and Cash Equivalents
By the end of the first quarter, cash and cash equivalents were US$3.77 billion, a significant increase from US$2.44 billion at the end of the first quarter last year.