Trina Solar: Trina Solar Co., Ltd. announced the termination of the planned spin-off and listing of its holding subsidiary
DATE:  Dec 09 2024

Stock code: 688599 Stock abbreviation: Trina Solar Announcement No.: 2024-106

Convertible bond code: 118031 Convertible bond abbreviation: day 23 convertible bond

Trina Solar Co., Ltd

Announcement on the termination of the planning for the spin-off and listing of the holding subsidiary

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

Trina Solar Co., Ltd. (hereinafter referred to as the "Company") held its first meeting on December 6, 2024

The fifteenth meeting of the third board of directors and the ninth meeting of the third board of supervisors respectively deliberated and passed the "Proposal on Terminating the Planning for the Spin-off and Listing of Holding Subsidiaries", and the company decided to terminate the listing of Tianhe Fujia Energy Co., Ltd. (hereinafter referred to as "Tianhe Fujia", formerly known as Jiangsu Tianhe Smart Distributed Energy Co., Ltd.), a holding subsidiary. The specific situation is hereby announced as follows:

1. Overview of the planned spin-off and listing

On April 21, 2023, the company held the 33rd meeting of the second board of directors and the 27th meeting of the second board of supervisors, which respectively deliberated and passed the "Proposal on Planning the Spin-off and Listing of the Holding Subsidiaries", and the board of directors agreed to the planning of the spin-off and listing of the holding subsidiary Tianhe Fujia, and authorized the company and the management of Tianhe Fujia to carry out the preparatory work for the spin-off and listing of Tianhe Fujia, including but not limited to the demonstration of the feasibility plan, the organization of the preparation of the listing plan, Signing relevant agreements and other listing-related matters involved in the planning process, the specific content is detailed

See the Company's "Days" disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) on April 22, 2023

Indicative announcement of Hesolar Co., Ltd. on planning the spin-off and listing of its holding subsidiary.

2. Reasons for terminating the planned spin-off and listing

The termination of the planned spin-off of Tianhe Fujia's listing is a strategic decision made by the company in combination with the development trend of the industry and its own advantages. The company will transform and upgrade from a traditional photovoltaic product manufacturer to a provider of overall solutions for photovoltaic and energy storage smart energy, providing accurate and differentiated solutions for different customers based on various application scenarios. Trina Solar has a comprehensive layout of photovoltaic modules, photovoltaic brackets, energy storage systems and other products, and is also an industry leader in distributed systems and centralized solutions, moving towards a new power system in the current industry

In the context of the new era of unification, the company has the best ability to provide customers with overall solutions. Among them, Trina Fujia's distributed system business and operation and maintenance business are the sectors closest to the terminal and provide customers with full life cycle services, which will become an important part of the company's solution development strategy and fully integrate with other product business segments, which will provide strong support for the company to achieve its strategic goal of being a total photovoltaic smart energy solution provider and create maximum value for Trina Solar's shareholders.

3. The impact of the termination of the planned spin-off and listing on the company

The termination of the planned spin-off is a strategic decision made by the Company in light of the development trend of the industry and Trina Solar's own advantages, which will not have a material adverse impact on the Company's existing production and operation activities and financial condition, and is conducive to promoting the implementation of the Company's future strategic plan.

The announcement is hereby made.

Board of Directors of Trina Solar Co., Ltd

December 9, 2024

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