On July 11, Trina Solar issued an announcement on signing a project investment agreement with Shifang Municipal People's Government (hereinafter referred to as the "Announcement").
According to the announcement, Trina Solar plans to build a production base with an annual output of 13 GW single crystal rods and supporting projects in Shifang Economic Development Zone, Sichuan Province, with a total investment of about 5.3 billion yuan . Among them, Trina Solar contributed about 4.3 billion yuan . The total construction period of the project is 12 months, which is determined according to the agreement arrangement and the actual situation. The
announcement explained that the signing of the investment agreement was due to the company's demand for capacity expansion and investment in the construction of 13 GW single crystal rod pulling and supporting projects. This will help the company to further optimize the upstream layout of the industrial chain with the help of Shifang's local policies and industrial supporting advantages. At the same time, the announcement indicated that the company held the fortieth meeting of the second board of directors on July 10, 2023, at which the investment agreement proposal was considered and approved.
The announcement indicates that the current company has more projects under construction and larger capital investment, which may cause some pressure on the company's cash flow, and the follow-up company will solve the capital problem through its own funds and self-financing. At the same time, the investment amount and construction period of this investment project are only reasonable estimates made by both parties under the current conditions in combination with the market environment, and there may be a gap between the actual implementation and expectations, which does not represent the company's forecast of future performance, nor does it constitute a performance commitment to investors. The performance of this agreement has no impact on the company's financial position and operating results in 2023.
It is reported that on May 30, Trina Solar issued a voluntary announcement on the signing of a project investment agreement with the Shifang Municipal People's Government, announcing that the company intends to invest in the construction of an annual output of 25 GW single crystal rod pulling and supporting projects in Shifang Economic Development Zone, Sichuan Province. The total investment of the project is about 10.7 billion yuan , and the total planned land area is about 500 mu. Among them, Trina Solar contributed about 8.7 billion yuan and Shifang State-owned Company contributed about 2 billion yuan.
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