Trina Solar plans to make an external investment to establish a joint venture company

Beijing Business Daily News (Reporter Ma Huanhuan, Li Jiaxue) On the evening of March 25, Trina Solar Co., Ltd. (688599) disclosed an announcement stating that the company’s subsidiary, Trina Technology, plans to jointly establish a joint venture company with Xingyuan Asset Management and Xingyao Asset Management by contributing capital together. The proposed registered capital of the joint venture company is not expected to exceed 100 million yuan. The name of the joint venture company is Shanghai Tianxing Energy Technology Co., Ltd. (tentative name; the final name is subject to approval and registration by the market supervision and administration authority).

The announcement shows that Xingyuan Asset Management is an entity controlled by Gao Jifan, the actual controller of Trina Solar Co., Ltd.; Xingyao Asset Management is an employee shareholding platform for the joint venture company to be established, with employees serving as the executive affairs general partner. It is currently still being established. The company name is a tentative name, and the final name is subject to approval and registration by the market supervision and administration authority. Trina Technology plans to contribute with its own funds of no more than 45 million yuan, accounting for 45% of the joint venture company’s registered capital. This transaction is an investment jointly with a related party and therefore constitutes a related-party transaction.

Trina Solar Co., Ltd. stated that this investment is intended to leverage the company’s technological strengths in energy system solutions such as photovoltaics and energy storage, and to expand cross-disciplinary applications in related new scenarios.