Chinese solar module manufacturer Trina Solar announced on December 24 that its holding subsidiary Jiangsu Trina Solar Smart Distributed Energy Co., Ltd (Trina Solar Distributive) plans to introduce investors in the form of capital increase and share expansion to promote the development of the company’s distributed photovoltaic business.
According to the announcement, a total of five enterprises or investment institutions participated in the transaction. All parties increased the total capital by RMB 547 million yuan and subscribed for the registered capital of the company by RMB 13.3885 million yuan. After the capital increase, newly introduced investors held a total of 10.236% equity of Trina Solar Distributive, and the original shareholders gave up the preemptive right to increase the capital. After the completion, Trina Solar’s holding ratio of Trina Solar Distributive has changed from 85.17% to 76.453%, which remains a holding subsidiary of Trina Solar and it does not affect the scope of the company’s consolidated statements.
According to the data, Trina Solar Distributive achieved an operating revenue of RMB 2.402 billion yuan (audited) from January to September 2021, a net profit attributable to the parent company of RMB 140 million yuan, a total asset of RMB 2.522 billion yuan, with an asset liability ratio of nearly 90%.
