1. People's Republic of China Stocks

  2. •

    Energy

  3. •

    Solar
Shanghai Aiko Solar Energy Co., Ltd.

Shanghai Aiko Solar Energy Co., Ltd.

600732.SS
Shanghai Aiko Solar Energy Co., Ltd.CN flagShanghai Stock Exchange
12.94
CNY
-0.12
- -
27.37BMarket Cap
Shanghai Aiko Solar Energy Co., Ltd.
600732.SS
(Shanghai Stock Exchange)

Recent

price

12.94

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.1
0.17
0.23
0.03
0.27
0.18
0.32
0.07
1.96
2.74
3.6
5.28
14.44
15.08
6.1
8.23
7.69
Revenue per Share
0.02
0.04
0.01
-0.04
-0.06
-0.18
0.03
0.1
0.16
0.26
0.3
-0.04
0.96
0.42
-2.91
-0.96
-2.03
Basic EPS, GAAP
0.52
-0.84
0.02
-0.13
-0.08
0.07
0.24
-0.06
0.08
-0.61
-0.87
-0.15
0.52
-2.62
-3.53
0.73
-0.59
Free Cash Flow per Basic Share
0.07
0.03
0.13
0.07
0.03
0.04
0.02
- -
0.05
0.06
0.06
0.12
0.08
0.52
0.33
0.28
0.34
Dividend per Share
0.83
0.88
1.48
0.76
0.74
0.52
0.56
0.65
0.88
1.23
1.39
1.18
2.04
3.07
0.11
-0.7
-0.02
Book Value per Share
0.9
0.97
1.72
0.83
0.82
0.59
0.65
0.75
0.68
1.06
2.08
1.77
3.48
4.27
2.16
3.18
2.05
Tangible Book Value per Share
633
622
355
624
595
629
625
625
2,100
2,214
2,685
2,930
2,429
1,802
1,828
1,898
1,878
Basic Weighted Avg Shares
61
108
82
18
163
110
200
46
4,108
6,069
9,664
15,471
35,075
27,170
11,155
15,614
14,440
Sales/Revenue/Turnover
-26.63
1.2
17.09
-109.89
6.07
-16.31
33.97
-39.86
12.85
12.8
11.58
0.48
8.46
8.67
-20.08
-6.05
-14.14
Operating Margin (%)
4
4
4
4
8
12
8
7
202
309
536
807
1,031
1,370
1,818
1,796
- -
Depreciation Expense
10
26
4
-27
-34
-112
20
61
345
585
805
-126
2,332
757
-5,319
-1,822
-3,812
Net Income, GAAP
52.09
52.26
- -
- -
- -
- -
33.89
19.04
12.84
10.42
11.53
- -
5.69
- -
- -
- -
- -
Effective Tax Rate (%)
15.55
23.8
4.64
-146.25
-20.8
-101.93
9.76
132.75
8.4
9.64
8.33
-0.81
6.65
2.79
-47.69
-11.67
-26.4
Profit Margin (%)
249
652
339
270
-121
-165
24
164
-565
-1,336
-1,579
-2,234
-631
-5,244
-10,547
-10,911
-11,849
Working Capital
90
180
122
140
68
- -
- -
- -
79
1,020
1,018
1,046
2,140
7,587
7,040
4,306
5,624
LT Debt
572
606
611
520
485
373
405
466
1,534
2,566
5,834
5,582
9,062
8,680
4,953
7,021
4,844
Total Equity
-0.64
0.08
- -
- -
- -
- -
7.66
-3.14
30.59
20.2
15.03
- -
24.63
- -
- -
- -
- -
Return on Invested Capital (%)
0.56
4.48
- -
- -
- -
- -
4.32
15.32
21.06
18.08
15.61
- -
31.07
- -
- -
- -
- -
Return on Capital (%)
1.84
4.79
0.71
-5.34
-7.43
-29.23
5.78
16.11
30.69
25.64
24.97
-3.5
55.4
14.43
-185.56
- -
-270.32
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
7,135
8,163
7,606
LT Borrowings
7,027
6,324
5,618
LT Finance Leases
13
8
7
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,828
1,828
1,828
Market Capitalization
20,104
22,870
24,597

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
7,498
7,800
7,230
Cash, Cash Equivalents & STI
1,914
2,822
2,136
Accounts Receivable, Net
838
1,092
1,368
Inventories
2,550
1,996
2,062
Total Current Liabilities
18,045
19,013
19,079
Payables & Accruals
- -
- -
- -
ST Debt
7,135
8,163
7,606
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
49.98%
10.53%
41.75%
Free Cash Flow
-228.72%
-205.9%
-121.4%
Net Income, GAAP
-234.11%
-601.77%
-65.75%
Sales/Revenue/Turnover
910.21%
29.06%
39.97%
Total Cash Common Dividend
- -
80.56%
-11.34%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,514
2,648
2,734
3,259
11,155
2025
4,136
4,311
4,017
- -
15,614
2026
4,437
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.05
- -
- -
- -
-2.91
2025
-0.16
- -
- -
- -
-0.96
2026
-0.21
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
- -
- -
- -
0.33
2025
0.06
- -
- -
- -
0.28
2026
0.05
- -
- -
- -
- -
Similar Companies
SolTech Energy Sweden AB (publ) (SOLT.ST)
SMA Solar Technology AG (SMTGY)
Swelect Energy Systems Limited (SWELECTES.BO)
Vast Renewables Limited Warrants (VSTEW)
Beam Global (BEEMW)
Euro Multivision Ltd (EUROMULTI.NS)
Business
Shanghai Aiko Solar Energy Co., Ltd. (600732.SS) researches, develops, manufactures, and sells photovoltaic products, including high-efficiency crystalline silicon solar cells, modules, inverters, energy storage systems, and mounting systems. The company offers specialized module series such as NEOSTAR (mono-glass and dual-glass variants ranging from 430W to 795W for residential, commercial, and utility applications), COMET (610W to 670W for commercial and industrial use), INFINITE (All Back Contact ABC technology modules up to 500W under 2 square meters), and NEBULAR (mono-facial 435W-450W); solar cells encompassing All Back Contact (ABC), bifacial mono PERC, and bifacial mono TOPCon; and digital products like AIKO Smart O&M, AIKO Designer, AIKO Energy APP, and AIKO Energy SIII Platform for intelligent management, monitoring, and optimization. It operates primarily in the solar energy sector, targeting residential, commercial & industrial, and utility-scale markets with a focus on high power output, partial shading optimization, low degradation, and extreme durability. Founded in 1996 and headquartered in Shanghai, China, the company maintains global operations through over 20 branches worldwide and employs more than 10,000 people, with cumulative cell and module shipments exceeding 170 GW. Shanghai Aiko Solar produces at facilities including those in Yiwu, Zhejiang, and exports to international markets across Europe, Africa, and beyond. In recent developments, the company commenced global delivery of its third-generation INFINITE ABC modules in March 2025, followed by an upgraded series in August 2025 featuring the world's first 500W module under 2 square meters with up to 25% efficiency. It formed strategic partnerships, including with Green Power in June 2025 to distribute ABC modules in France and Energy3000 in September 2024 to expand across Europe, and collaborated with the Australian Centre for Advanced Photovoltaics in October 2024 on a US$4 million initiative targeting 30% efficiency for IBC solar cells. Additionally, Shanghai Aiko Solar earned a spot on the BloombergNEF Tier 1 list in September 2025, reflecting its strengthened position in high-efficiency PV manufacturing.