China Economic Net, Beijing, October 9 Trina Solar (688599.SH) disclosed last night that shareholders holding more than 5% of the shares will reduce their shareholdings through block trading. 

As of the disclosure date of the announcement, Shenzhen Hongyu Information Technology Co., Ltd. (hereinafter referred to as "Shenzhen Hongyu") directly held 105,469,583 shares of Trina Solar before its public offering, and 5,313,232 new shares due to the conversion of "Trina Convertible Bonds", holding a total of 110,782,815 shares of the company, accounting for 5.08% of the company's total share capital. Among them, the shares held before the IPO have been listed and circulated since June 10, 2021.

Due to its own development and capital needs, Shenzhen Hongyu plans to reduce its holdings of no more than 0.5% of Trina Solar's total share capital, i.e. 10,896,826 shares, through block trading at market prices within three months after 15 trading days from the date of Trina Solar's announcement of the shareholding reduction plan, that is, from October 30, 2024 to January 30, 2025. Among them, the total number of shares reduced through block trading in any consecutive 90-day period shall not exceed 2% of Trina Solar's total share capital. If Trina Solar has ex-rights and dividends such as dividends, share gifts, conversion of capital reserve to share capital, and allotment of shares during the reduction period, the number of shares to be reduced and the price of the reduction will be adjusted accordingly.

Trina Solar was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange on June 10, 2020, with an issued number of 310,200,000 shares, accounting for 15.00% of the total share capital after the issuance, all of which were new shares issued to the public at a price of RMB 8.16 per share. Trina Solar's sponsor (lead underwriter) is Huatai United Securities Co., Ltd., and the sponsor representatives are Gu Peipei and Wang Xiaodong.   

Trina Solar's IPO raised a total of RMB253,123.20 million. After deducting the issuance expenses (excluding VAT), the net amount of funds raised was 231,006.26 million yuan. Trina Solar's net proceeds were RMB689,937,400 less than the original plan. On June 4, 2020, Trina Solar released a prospectus showing that the company plans to raise 300,000.00 yuan to be used for the 250MWp photovoltaic power generation project in Yijun County, the leading base of Tongchuan photovoltaic power generation technology, the annual output of 3GW high-efficiency monocrystalline cut half module project, the R&D and information center upgrade construction project, and replenishment of working capital.  

Trina Solar's initial public offering expenses (excluding VAT) totaled RMB221,169,400, of which Huatai United Securities Co., Ltd. received sponsorship and underwriting fees of RMB158,000.00.   

Trina Solar issued convertible corporate bonds in 2021. Approved by the China Securities Regulatory Commission (CSRC) Zheng Jian Xu Xu [2021] No. 2339 "Reply on Approval of Trina Solar's Registration of Issuance of Convertible Corporate Bonds to Unspecified Targets", the Company was approved to issue convertible corporate bonds with a total face value of RMB5,252,000,000.00 to unspecified targets, with a maturity of 6 years. As of August 19, 2021, the Company raised a total of RMB5,252,000,000.00 through the issuance of convertible corporate bonds, and the actual net amount of funds raised was RMB5,209,090,993.31 after deducting the total issuance expenses of RMB42,909,006.69.   

Trina Solar issued convertible corporate bonds in 2023. Approved by the China Securities Regulatory Commission (CSRC) Zheng Jian Xu Xu [2023] No. 157 "Approval of the Registration of Trina Solar's Issuance of Convertible Corporate Bonds to Unspecified Targets", the Company was approved to issue convertible corporate bonds with a total face value of RMB8,864,751,000.00 to unspecified targets, with a maturity of 6 years. As of February 17, 2023, the Company has raised a total of RMB8,864,751,000.00 from the issuance of convertible corporate bonds, and the actual net amount of funds raised is RMB8,816,100,720.15 after deducting the total issuance expenses of RMB48,650,279.85.   

Trina Solar conducted three fundraisings, raising a total of 16.648 billion yuan.