TOYO Co., Ltd Announces Second Half and Full Year 2024 Financial Results
- TOKYO , April 28, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced its financial results for the second half and fiscal year ended December 2024. FY 2024 Highlights 1.743 GW shipped Revenues increased 184% to $177.0 million compared to $62.4 million in 2023 Gross profit margin of 12.4% compared to 26.7% in 2023 Net income of $40.9 million in 2024 compared to $9.9 million in 2023 2H2024 Highlights 758 MW shipped Revenues were $38.9 million compared to $62.4 million for the same period in the prior year Gross profit margin of -12.2% compared to 26.7% for the same period in the prior year Net income of $21.3 million compared to net income of $11.8 million for the same period in the prior year Outlook for 2025 Solar cell shipments are expected to reach 3.5 GW, fuelled by robust demand and new capacity from the Company's manufacturing facility in Ethiopia.
- 04/28/2025
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Nihon Global Growth Partners Nominates Two Candidates for Toyo Suisan Board
- NEW YORK & TOKYO--(BUSINESS WIRE)--Today, Nihon Global Growth Partners Management Inc. (“NHGGP”) announced that it has nominated, via an affiliated fund, two qualified outside directors for election to the Board of Toyo Suisan Kaisha Ltd. (2875.T) (“Toyo Suisan” or the “Company”) at the upcoming Annual General Meeting. The investor group led by NHGGP collectively owns approximately 4% of Toyo Suisan's common shares. NHGGP also issued a presentation detailing the case for change at the Board lev.
- 04/24/2025
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TOYO Commences Production in its 2GW Solar Cell Facility in Ethiopia
- TOKYO , April 22, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF) ("TOYO" or the "Company"), a solar solution company, has officially started production at its new facility in Ethiopia in early April 2025. The company is scheduled to deliver more than 80 MW of solar cells to customers by the end of April.
- 04/22/2025
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TOYO Co., Ltd to Announce Second Half and Fiscal Year 2024 Financial Results on April 28, 2025
- TOKYO , April 21, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), a solar solution company, today announced it will host a conference call to discuss second half and fiscal year 2024 results on Monday, April 28, 2025. Conference Call Details are as follow: Date: Monday, April 28, 2025 Time: 8:30 AM ET Live Webcast: https://events.q4inc.com/attendee/370740443 The second half and fiscal year 2024 earnings release and related investor deck will be available on the investor relations website at investors.toyo-solar.com prior to the event.
- 04/21/2025
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Ethiopian Prime Minister Visits TOYO Facility in Vietnam, Strengthening Strategic Collaboration in Renewable Energy
- TOKYO , April 16, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF) ("TOYO" or the "Company"), a solar solution company, was honoured to host His Excellency Abiy Ahmed Ali, Prime Minister of Ethiopia, at its state-of-the-art solar cell production facility in Phu Tho Province on the morning of April 15, 2025. The Prime Minister was accompanied by a high-ranking ministerial delegation and Mr.
- 04/16/2025
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TOYO Co., Ltd Announces Plans for Additional 2GW Solar Cell Capacity Expansion in Ethiopia
- TOKYO , March 26, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF) ("TOYO" or the "Company"), a solar solution company, is excited to announce it will begin building an additional 2 gigawatts (GW) expansion of its solar cell capacity at its new Ethiopia facility. This expands upon the successful completion of Phase 1 of the facility and is a direct response to the global demand for its solar cell products.
- 03/26/2025
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TOYO Hosts Ethiopian Delegation, Exploring Opportunities for Enhanced Cooperation
- TOKYO , March 11, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC:TOYWF) ("TOYO" or the "Company"), a solar solution company, is pleased to announce that it recently welcomed a delegation from Ethiopia's Industrial Park Development Corporation (IPDC) and Ethiopia's Ambassador to Japan and its facilities in Vietnam. The visit followed the delegation's participation in the Japan-India- Africa Business Forum held in Japan on February 26, 2025.
- 03/11/2025
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TOYO Co., Ltd Warrants to Commence Trading on OTC Markets
- TOKYO , Feb. 24, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is pleased to announce that its warrants are now available for trading on the OTCQB under the ticker symbol TOYWF commencing on February 24, 2025. "We are excited to see TOYO's warrants begin trading on the OTCQB," said Mr.
- 02/24/2025
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TOYO Co., Ltd to Participate in Upcoming Renewable Energy and Investment Conferences
- TOKYO , Feb. 13, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced its participation in upcoming industry and investment conferences in February and March 2025. CG Sustainability Virtual Summit Fireside Chat with Simon Shi When: Wednesday, February 26th at 11:05 a.m.
- 02/13/2025
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TOYO Co., Ltd to Showcase Solar Solutions at Key Energy Industry Events
- TOKYO , Feb. 12, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced its participation in upcoming key energy industry events in February and March 2025. Smart Energy Week When: February 19-21, 2025 Where: Tokyo Big Sight, Japan, Booth S31-40 Smart Energy Week is a dynamic platform where energy leaders convene to network, share expertise, and accelerate advancements in the energy industry.
- 02/12/2025
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TOYO Co., Ltd Receives TÜV SÜD and CSA Certifications
- TOKYO , Dec. 19, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is pleased to announce that its subsidiary, Toyo Solar Company Limited has successfully obtained TÜV SÜD certification and CSA certification. This significant achievement underscores the Company's commitment to quality, safety, and environmental sustainability in the production of photovoltaic (PV) module.
- 12/19/2024
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TOYO Co., Ltd Secures $150 million Contract to Supply Solar Cells to a Leading Solar Module Manufacturer
- TOKYO , Nov. 26, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is pleased to announce the execution of a significant contract valued at $150 million to supply high efficiency solar cells to a prominent solar module manufacturer. This landmark agreement underscores the Company's commitment to advancing sustainable energy and supporting the global transition towards renewable resources.
- 11/26/2024
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TOYO Co., Ltd to Participate in Clean Energy Conferences in NYC on December 4th and 5th
- TOKYO , Nov. 25, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced that the Company will participate in two Clean Energy conferences in NYC hosted by Jefferies and Bank of America on December 4 th and 5th. The company's Chairman and CEO, Mr.
- 11/25/2024
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TOYO Co., Ltd to Acquire Solar Module Manufacturing Facility in Texas
- Move to accelerate TOYO's plans for "made-in-America" modules with 2.5 gigawatts initial capacity HOUSTON and TOKYO , Nov. 25, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced it has agreed to acquire 100% of membership interests in Solar Plus Technology Texas LLC("Solar Plus") located in Houston metropolitan area, Texas, via its subsidiary TOYO Solar LLC. Key Highlights Facility details: The newly leased facility spans 567,140 square feet which we plan to accommodate 2.5 GW of solar module manufacturing capacity and further expand it to 6.5 GW by 2029.
- 11/25/2024
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TOYO Co., Ltd Updates on 2024 Performance, Announces Preliminary Guidance for 2025
- TOKYO , Nov. 18, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today provided an update on its anticipated business performance for the full year 2024, and announced preliminary guidance for 2025, reflecting the Company's ongoing commitment to growth and innovation in the renewable energy sector. 2024 Performance Updates: Projected Shipments: Cell shipments are expected to reach 1.7-1.8 GW in 2024, representing a slight decrease from the previously announced 1.9 GW annual target, mainly due to reduced delivery to U.S customers affected by anti-dumping and countervailing duty investigations by the U.S. Department of Commerce and International Trade Commission Expected Net Income: The Company expects to achieve net income of approximately $10 million in 2024.
- 11/18/2024
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Japan's Toyo to produce solar cells in Ethiopia for US plant
- Japan's TOYO Co. Ltd on Monday said it will build a 2 gigawatt solar cell factory in Ethiopia that will provide duty-free components to a panel factory it is planning in the United States.
- 10/14/2024
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TOYO Co., Ltd Announces Plans for a 2 GW Solar Cell Manufacturing Facility in Ethiopia
- TOKYO , Oct. 14, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is excited to announce its plan to establish a state-of-the-art solar cell manufacturing facility with an expected annual capacity of 2 gigawatts (GW). The Company has signed a lease agreement for the new facility that is strategically located in Hawassa, Ethiopia, taking advantage of the country's favorable investment policies, tariff status, and ample hydropower supply.
- 10/14/2024
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TOYO Co., Ltd Announces Appointment of Liang "Simon" Shi as President
- TOKYO , Oct. 10, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced Liang "Simon" Shi's appointment as the President. With a deep understanding of strategic investments in the renewable energy sector, Liang "Simon" Shi is poised to steer TOYO toward continued growth and industry leadership.
- 10/10/2024
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TOYO Co., Ltd to Exhibit at Renewable Energy India Expo 2024
- TOKYO , Oct. 1, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced its participation in the Renewable Energy India (REI) Expo 2024, taking place from October 3 to 5, 2024, at the India Expo Centre in Greater Noida. This year's expo is expected to attract over 50,000 visitors and 800 exhibitors, showcasing the latest advancements in renewable energy technologies.
- 10/01/2024
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TOYO Co., Ltd to Present at the H.C. Wainwright 26th Annual Global Investment Conference
- TOKYO , Sept. 6, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced that it will host investor meetings at the 26th Annual H.C.
- 09/06/2024
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TOYO Co., Ltd Announces First Half 2024 Unaudited Financial Results
- TOKYO , Aug. 21, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced its financial results for the six months ended June 30, 2024. First Six Months of 2024 Highlights Revenues of $138.1 million versus $0 revenues in the first half of 2023 Gross Margin of 19.3% Net income of $19.6 million versus a loss of $1.9 million in the first half of 2023 985 MW shipped "We are pleased with our financial and operational achievements in the first half of 2024, highlighting our team's outstanding execution capabilities," said Junsei Ryu, Chairman and CEO of TOYO.
- 08/21/2024
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TOYO Co., Ltd to Ring the Nasdaq Closing Bell on Thursday, August 22, 2024
- TOKYO , Aug. 20, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced the Company will ring the closing bell at the Nasdaq MarketSite in Times Square, New York on Thursday August 22, 2024. "We are excited and honored to ring the bell to commemorate our recent listing," said Mr.
- 08/20/2024
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TOYO Co., Ltd to Report Unaudited First Half 2024 Financial Results on August 21, 2024
- NEW YORK , Aug. 15, 2024 /PRNewswire/ -- TOYO Co., Ltd (NASDAQ: TOYO) a solar solution company, today announced it will host a conference call to discuss first half 2024 results on Wednesday, August 21, 2024. Conference Call Details are as follows: Date: Wednesday, August 21, 2024 Time: 9:30 AM ET Live Webcast: https://events.q4inc.com/attendee/398434630 The first half 2024 earnings release and related investor deck will be available on the investor relations website prior to the event.
- 08/15/2024
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Why Is Toyo (TOYO) Stock Up 119% Today?
- Toyo (NASDAQ: TOYO ) stock is taking off on Friday alongside heavy pre-market trading of the solar solution company's shares. That has more than 13.6 million shares of TOYO stock changing hands as of this writing.
- 07/12/2024
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