(Yicai) Dec. 9 -- Chinese photovoltaic giant Trina Solar has terminated the spin-off and listing of its holding subsidiary Trinapower, mainly because of shifting industry development trends.

Trina decided to withdraw Trinapower's listing application submitted to the Shanghai Stock Exchange in April last year at its latest board meeting on Dec. 6, the Changzhou-based parent company announced yesterday.

Founded in 2016, Trinapower is committed to the distributed solar power generation market. It has established a complete system integrating research and development, marketing, sales, engineering, aftersales services, and intelligent operations and maintenance into one body boasting a digital and omni-channel ecological network.

The termination of Trinapower's spin-off and listing will not have an adverse impact on Trina's production, operations, and financial condition but will be conducive to promoting the implementation of its future strategic plan, Trina added.

The distributed PV power generation and O&M businesses will be integrated into other Trina business segments to support the firm's strategic goal of becoming a comprehensive smart solar energy solutions provider, Trina pointed out.

China's photovoltaic industry is facing a fierce price war. Trina previously revealed that it will strive to transform and upgrade into a comprehensive solution provider in the solar and energy storage smart energy industries.

Trinapower's shipments of household PV installations exceeded 3.2 gigawatts in the first half of the year. According to the National Energy Administration, China's household PV installations totaled 15.85 GW in the period, meaning that Trinapower seized over 20 percent of the market.

Editor: Futura Costaglione