Digital New Energy DataBM. Com learned that on the evening of July 8, Atlas responded to the Shanghai Stock Exchange's information disclosure regulatory inquiry letter on the 2025 annual report, mainly focusing on the company's main business operation, business adjustment and competition in the same industry, asset impairment losses and other aspects.
The announcement shows that in 2025, Atlas achieved operating income of 40.256 billion yuan, a decrease of 12.80% over the same period last year, and net profit of 1.016 billion yuan, a decrease of 54.80% over the same period last year. Atlas explained that it was mainly affected by the periodic imbalance between supply and demand in the photovoltaic industry and the continuous downward price of the industrial chain.
Component business, affected by intensified competition in the industry, falling product sales prices and rising tariff costs, the company's component sales and profitability are under pressure, which is the main reason for the decline in revenue and profits. In terms of
energy storage business, although the company continues to give full play to the advantages of global market layout and project execution, maintain revenue growth and maintain a high level of profitability, it forms an effective support for the overall operating performance of the company, but it is not enough to completely offset the impact of the decline in component business.
In addition, the Shanghai Stock Exchange noted that under the background that most enterprises in the photovoltaic industry suffered large losses throughout the year in 2025, Atlas achieved a net profit of about 1 billion yuan against the trend.
In response, Atlas explained that thanks to the advantages of energy storage business and overseas high-priced market layout and channels, the company's profit performance is significantly better than that of comparable companies, which is reasonable.
According to the disclosure, in 2025, Atlas energy storage business realized revenue of 10.847 billion yuan, an increase of 11.39% over the previous year, gross interest rate of 28.6% , and energy storage sales of 7.935 GWh. Up 20.63% year on year.
Looking ahead, Atlas expects energy storage system shipments to grow to 14-17 GWh in 2026.
In addition to the issue of performance changes, the Shanghai Stock Exchange focused on the specific progress of the company's business adjustment in the United States.
It is reported that in July 2025, President Trump formally signed the Great America Act. At present, the bill has come into force on July 4, 2026.
According to the new regulations, manufacturing enterprises in the United States controlled by Chinese entities holding more than 25% of the shares will be recognized as "prohibited foreign entities" and will lose the eligibility for relevant tax credits in the United States from 2026.
In response to this risk, Atlas launched a U.S. business restructuring program as early as December 2025, with joint controlling shareholder Atlas Canadian Solar Inc. (Hereinafter referred to as "CSIQ ") setting up new joint ventures M and N. They are engaged in photovoltaic and energy storage business in the United States.
Among them, Atlas holds 24.9% shares and CSIQ holds 75.1% shares.
At the same time, Atlas also said that it intends to reorganize manufacturing plants outside the United States but supplying the United States, including THX1, SSTH and GNCM, into 75.1% of CSIQ and 24.9% of Atlas through equity transfer. (For details, please click: PV Head Enterprise Business Adjustment!
At present, Atlas replied that as of the date of issuance of this reply, except for the transfer of assets of the slicing plant in Thailand and the corresponding lease contract, which has not yet been completed due to the approval of the local production license, the relevant agreements on this business adjustment have been performed normally. Consistent with prior disclosures.
Atlas said that under the current trading scheme, the company can obtain rental income; 24.9% of the joint venture company's continuous equity income; one-time transfer of part of the non-US overseas manufacturing company's equity consideration. After the completion of the
transaction, the market map of the company and the controlling shareholder CSIQ will also be re-divided: the controlling shareholder CSIQ will focus on the US market, and the company will focus on the global market (Europe, Latin America, Asia, Middle East, etc.) except the US.
In fact, not only Atlas , but also the US photovoltaic policy changes. Many photovoltaic companies, such as Bowei Alloy, Trina Solar Energy and Jingao Technologies , have taken the initiative to adjust the layout of photovoltaic business in the United States, or sell photovoltaic assets in the United States, or sort out the company's business in the United States. (For details, please click: Another Chinese Photovoltaic Company Sells US Assets! ）
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