Trina Solar’s Shares Skyrocket 110.78% on Trading Debut

PVTIME - Today, leading Chinese photovoltaic
manufacturer Trina Solar successfully listed on the Science and Technology
Innovation Board of the Shanghai Stock Exchange as “Trina Solar” (securities
code “688599), becoming the first enterprise in the domestic PV industry to
transition from NASDAQ to China A-shares.

Trina Solar’s
issue price at the time of the IPO was 8.16 yuan/share. During the call auction
stage, share price jumped 104.53% to 16.65 yuan/share, good for a market cap of
34.43 billion yuan. Then, by the time this article was written, share price
rose 110.78% to 17.25 yuan/share, increasing Trina Solar’s market cap to 35.5
billion yuan.

According to the IPO data, in 2019, Trina Solar achieved operating income
of 23.322 billion yuan and net profit of 641 million yuan, a year-on-year
increase of 14.82%. As of the end of 2019, Trina Solar had cash of 5.241
billion yuan, an increase of 28.49% over the same period last year. In the
first quarter of 2020, revenue was 5.503 billion yuan, an increase of 31.73%
year-on-year, and net profit was 153 million yuan, an increase of 180.41%

Trina Solar
plans to invest 3 billion yuan raised in the upgrading of its R&D and
information centres, supplement working capital, and the construction of a 250MW
photovoltaic power generation project in Tianxing, Yijun County. The annual
output of this project is 3GW in high-efficiency monocrystalline half-cut

In terms of
production capacity, by the end of 2020, the planned cell production
capacity will reach about 13GW, by the end of 2021, about 28GW, and by the end
of 2022, about 30GW. Trina Solar’s planned module capacity will exceed 20GW by
the end of 2020, 30GW by the end of 2021, and 40GW by the end of 2022. Specifically,
the planned production capacity of 210mm large-size modules will reach about
10GW by the end of 2020, about 21GW by the end of 2021, and about 31GW by the
end of 2022.