REVENUES

12 Months Ended

Dec. 31, 2025

REVENUES

REVENUES

3.    REVENUES

The Group’s revenues for the respective periods are detailed as follows (RMB in thousands):

	For the years ended December 31,
	2023	2024	2025
	RMB	RMB	RMB
Sales of photovoltaic products	116,262,223	89,991,217	62,527,592
Sales of other solar materials	2,374,386	2,265,085	2,970,054
Sales of solar projects	41,982	—	—
Total	118,678,591	92,256,302	65,497,646

In December 2023, the Company received contingent payments in cash related to its sales of solar projects and recognized revenue of RMB42 million.