On March 26, Trina Solar issued an announcement stating that its wholly-owned subsidiary, Trina Solar (Changzhou) Technology Co., Ltd., plans to establish a joint venture with a related party, Trina Xingyuan (Zhejiang) Enterprise Management Consulting Co., Ltd., and its employee shareholding platform, Changzhou Xingyao Enterprise Management Partnership (Limited Partnership). The joint venture is tentatively named "Shanghai Tianxing Energy Technology Co., Ltd."
According to the announcement, the proposed registered capital of the joint venture will not exceed RMB 100 million. Among the contributing parties, Trina Technology plans to invest RMB 45 million, representing a 45% equity stake; Xingyuan Enterprise Management plans to invest RMB 30 million, holding a 30% stake; and Xingyao Enterprise Management plans to invest RMB 25 million, accounting for a 25% stake. All capital contributions will be made entirely in cash, utilizing the parties' own funds.
Regarding the corporate structure, the joint venture will establish a three-member board of directors. Trina Solar will appoint two of these directors and recommend a candidate for the position of general manager. Moving forward, Trina Solar will exercise control over the joint venture and incorporate it into its consolidated financial statements.
This transaction constitutes a related-party transaction. Because Xingyuan Enterprise Management is controlled by Gao Jifan, the actual controller of Trina Solar, it is legally classified as a related party. The announcement indicates that this matter has already been reviewed and approved by the company's Board of Directors as well as a special meeting of independent directors, with related directors abstaining from the vote. The transaction does not require submission to a shareholders' meeting for approval, nor does it constitute a major asset restructuring.
Trina Solar stated that the establishment of this joint venture aims to leverage the company's accumulated technological expertise in photovoltaic and energy storage system solutions. The primary goal is to expand cross-disciplinary applications in new scenarios, further diversify the company's product portfolio, and enhance its overall capacity to provide comprehensive solutions.
Source：EnergyTrend