(Yicai) Nov. 21 -- Chinese photovoltaic module giant Trina Solar has reportedly confirmed that the daughter of its founder will marry the founder of Chinese new-style tea brand Chagee.

Gao Jifan and Zhang Junjie will soon host their wedding, an official at Trina Solar told Jiemian News yesterday, adding that the two met at a young entrepreneur learning event and have already registered their marriage. Since this is a personal matter, Trina Solar hopes everyone will respect their privacy, Jiemian News noted.

Gao is the daughter of Trina Solar's founder, actual controller, and Chairman Gao Jifan. Born in 1993, she graduated from Brown University and joined the family business in June 2017. She serves as co-chairwoman of Trina Solar. The Gao family made it into the 2024 Hurun Rich List, with a net worth of CNY14.5 billion (USD2 billion).

Zhang, who was also born in 1993, started his career working at a milk tea shop and founded Chagee from scratch. He is now the company's chairman and chief executive officer. Zhang entered the Hurun Rich List for the first time this year, with a fortune of CNY13.5 billion.

Trina Solar was established in 1997, with its main business including PV products and systems, and smart energy. In the first three quarters of the year, its operating revenue neared CNY50 billion, ranking second in the industry after Longi Green Energy. It logged a net loss of over CNY4.1 billion (USD576.5 million) in the period due to industry bottlenecks.

Shares of Trina Solar [SHA: 688599] were trading down 3.7 percent at CNY18.44 (USD2.59) in Shanghai today, giving it a market capitalization of CNY43.2 billion.

Chagee was founded in 2017 and now has more than 7,000 stores globally. Its revenue rose 10 percent to CNY3.3 billion in the second quarter from a year earlier, while its net profit shrank 89 percent to CNY66 million (USD9.3 million). The company's overseas gross merchandise volume surged 77 percent to CNY235.2 million (USD33.1 million) in the period.

Chagee's stock [NASDAQ: CHA] fell 8.1 percent to USD13.07 in New York yesterday, with a market value of USD2.4 billion.

Editor: Futura Costaglione