Core Viewpoint - The photovoltaic equipment sector is experiencing a strong rebound, with notable stock performance from several key companies [1] Company Performance - Longi Green Energy is approaching a trading limit increase [1] - Trina Solar has seen its stock rise by over 8% [1] - Aiko Solar, JA Solar, and TCL Zhonghuan are among the top performers in terms of stock price increase [1]

Core Viewpoint - Trina Solar's energy storage division has been awarded the sole bid for the construction of a new energy storage power station project at the Jiangsu Oilfield of Sinopec [1] Group 1 - Trina Energy Storage has become the only winning bidder for the energy storage power station project [1]

Group 1 - The core point of the article is that Trina Solar (688599) has filed an international patent application for a "stacked solar cell and its preparation method and application," with the application number PCT/CN2024/132988 and an international publication date of October 9, 2025 [1] Group 2 - Trina Solar has announced a total of 50 international patent applications this year, representing a 51.52% increase compared to the same period last year [3] - In the first half of 2025, Trina Solar invested 900 million yuan in research and development, which is a year-on-year increase of 6.6% [3]

Group 1 - The core point of the announcement is the resolution of the fifth temporary shareholders' meeting of Trina Solar Limited, which confirms the legality and validity of the meeting and its decisions [1][7]. - The meeting was held on October 13, 2025, at the company's conference room in Changzhou, with a total share capital of 2,179,365,412 shares, excluding 32,169,514 shares held in the repurchase account that do not have voting rights [2][3]. - The meeting was presided over by the chairman, Gao Jifan, and utilized a combination of on-site and online voting methods, complying with relevant laws and regulations [3][4]. Group 2 - The main resolution passed was to cancel the supervisory board, change the company's registered capital, and amend the articles of association and certain management systems, which was approved by more than two-thirds of the voting rights held by attending shareholders [5][6]. - The meeting was witnessed by lawyers from King & Wood Mallesons, who confirmed that the procedures for convening and holding the meeting were in accordance with the Company Law and other relevant regulations [6].

北京市金杜律师事务所上海分所 关于天合光能股份有限公司 2025 年第五次临时股东会 之法律意见书 致：天合光能股份有限公司 公司已向本所保证，公司已向本所披露一切足以影响本法律意见书出具的 事实并提供了本所为出具本法律意见书所要求公司提供的原始书面材料、副本 材料、复印材料、承诺函或证明，并无隐瞒记载、虚假陈述和重大遗漏之处； 公司提供给本所的文件和材料是真实、准确、完整和有效的，且文件材料为副 本或复印件的，其与原件一致和相符。 在本法律意见书中，本所仅对本次股东会召集和召开的程序、出席本次股 东会人员资格和召集人资格及表决程序、表决结果是否符合有关法律、行政法 规、《股东会规则》和《公司章程》的规定发表意见，并不对本次股东会所审议 的议案内容以及该等议案所表述的事实或数据的真实性和准确性发表意见。本 所仅根据现行有效的中国境内法律法规发表意见，并不根据任何中国境外法律 发表意见。 本所依据上述法律、行政法规、规章及规范性文件和《公司章程》的有关 规定以及本法律意见书出具日以前已经发生或者存在的事实，严格履行了法定 职责，遵循了勤勉尽责和诚实信用原则，对公司本次股东会相关事项进行了充 分的核查验证，保证本 ...

| 证券代码：688599 证券简称：天合光能 | 公告编号：2025-103 | | --- | --- | | 转债代码：118031 转债简称：天 23 转债 | | 天合光能股份有限公司 2025年第五次临时股东会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （五） 公司董事、监事和董事会秘书的出席情况 （一） 股东会召开的时间：2025 年 10 月 13 日 （二） 股东会召开的地点：常州市新北区天合路 2 号天合光能股份有限公司会 议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 371 | | --- | --- | | 普通股股东人数 | 371 | | 2、出席会议的股东所持有的表决权数量 | 1,019,435,574 | | 普通股股东所持有表决权数量 | 1,019,435,574 | | 3、出席会议的股东所持有表决权数量 ...

Core Viewpoint - The article discusses the escalating trade tensions between the U.S. and China, particularly focusing on the implications of new tariffs and export controls on the energy storage battery market, which could significantly increase costs and impact supply chains [2][4][14]. Group 1: Tariff Implications - Starting November 1, the U.S. will impose a 100% tariff on China, with total tariffs on energy storage batteries potentially exceeding 158.4% by January 2026 due to existing tariffs [2][4]. - The new tariff policy could lead to an estimated $500 million in tariff costs for energy storage projects if implemented [10]. Group 2: Market Impact - The new tariffs are expected to increase the overall costs of energy storage projects in the U.S. by 12% to over 50%, which may delay or cancel some projects [9][10]. - A report indicated that 16 battery storage projects have already been scaled back or canceled this year due to ongoing trade tensions [11]. Group 3: Domestic Supply Challenges - U.S. domestic manufacturers are projected to meet only 40% of the energy storage demand by 2030, leading to reliance on Chinese batteries despite the tariffs [9][14]. - The new tariffs could exacerbate the existing supply-demand imbalance, pushing prices higher and extending procurement cycles for developers [10][14]. Group 4: Chinese Companies' Response - Chinese energy storage companies have seen their U.S. orders drop to 1.76% of total orders, indicating a shift towards diversifying markets beyond the U.S. [15]. - Companies like CATL and others have secured U.S. storage orders, but the impact of new tariffs on these collaborations remains uncertain [17][18]. Group 5: Long-term Industry Outlook - The ongoing trade friction may accelerate the diversification of supply chains and energy storage markets, pushing companies to enhance their technological capabilities and explore non-U.S. markets [14][20].

Core Insights - The article highlights the upcoming CINE2025 Solid-State Battery Exhibition and Industry Annual Conference, scheduled for November 6-8, 2025, in Guangzhou, with over 200 exhibitors and 20,000 professional attendees expected [1]. Company Developments - Trina Storage's new energy storage base in Dafeng, Jiangsu, has officially commenced production, with a designed capacity of 13GWh, which will increase to 25GWh after the second phase is completed [1][2]. - Trina Storage, a subsidiary of Trina Solar established in 2015, aims to be a leader in smart energy solutions by integrating solar and storage technologies [2]. Production Capacity and Strategy - Trina Storage has established a production triangle with its headquarters in Changzhou, a super factory in Chuzhou, and the Dafeng base, with the Chuzhou factory alone having an investment of 10.8 billion yuan and a planned annual output of 28GWh [3]. - The Chuzhou factory has already achieved a complete capacity matrix with 12GWh of cell capacity and 6GWh of Pack capacity, contributing to a significant increase in production efficiency [4]. Market Performance - In the first half of the year, Trina Storage's overseas market for energy storage achieved over 1GWh in deliveries, marking the first quarterly profit in Q2 [5]. - The cumulative shipment of Trina Storage has surpassed 12GWh, with a global customer base exceeding 100 and a project reserve of over 70GWh [6]. Future Projections - Trina Storage plans to achieve over 8GWh in shipments by 2025, with 60% expected from overseas markets and 40% from domestic markets, focusing on regions like the US, Europe, and Asia-Pacific [6]. - The company has signed overseas orders exceeding 10GWh, with deliveries expected between 2025 and 2026, aiming for a year-on-year growth rate of over 50% in shipments by 2026 [6]. Product Innovations - Trina Storage has launched new energy storage systems, including the Elementa 2 Pro, which features a self-developed 314Ah high-performance cell, and a 7MWh+ solution that enhances energy density and reduces costs [7]. - Despite facing losses for three consecutive years, Trina Storage maintains advantages in self-developed cells, delivery capabilities, and transportation networks, positioning itself for future growth as the energy storage market expands [7].

Core Insights - Chinese energy storage companies are experiencing a surge in international contracts, marking a significant breakthrough in global markets [2] - Major players like Trina Storage, Hicharge, and others are securing large-scale orders ranging from hundreds of MWh to several GWh, indicating strong product capabilities and delivery performance [2] Group 1: Trina Storage - Trina Storage signed a strategic cooperation agreement with Japan's Tohoku Electric Power, committing to supply 500 MWh of large-scale storage systems starting in 2025 [3] - The company is also developing a 500 MW/2000 MWh battery storage project in Victoria, Australia, with an investment of approximately 2.18 billion RMB, expected to be completed by the end of 2027 [3] - Trina Storage has secured contracts totaling 2.48 GWh for energy storage products across China, Latin America, and the Asia-Pacific region [3][4] Group 2: Hicharge - Hicharge has signed a supply agreement for 2 GWh of storage systems with Solarpro, a leading European solar EPC [5] - The company is also collaborating with FRV to deploy a 500 MWh storage system in Victoria, Australia, which includes long-term service support [5] - A partnership with BOS Power aims to deploy 3 GWh of storage systems in Denmark, Sweden, Finland, and Norway by 2027 [6] Group 3: EVE Energy - EVE Energy has reached a strategic cooperation with TSL Assembly to deploy 1 GWh of storage systems in Central and Eastern Europe between 2026 and 2030 [7] - The company also signed a 500 MWh agreement with CommVOLT to enhance grid stability and renewable energy integration in the region [7] Group 4: Ruipu Lanjun - Ruipu Lanjun signed a supply agreement with Energy Vault for 3 GWh of storage systems to be delivered in 2026, focusing on markets in Australia, the US, and Europe [8][9] Group 5: Other Companies - Zhongqi New Energy received a 2 GWh order from ACME Solar Holdings for battery storage systems in India [10] - Jingkong Energy announced a 600 MWh project in Finland, marking a record for single supplier procurement in the local market [11] - Yuanxin Storage signed agreements for over 5 GWh of projects in Poland, showcasing its technical and product support capabilities [12] - Xixing Charging entered the Indian market with a nearly 1 GWh storage order [13] - Kubo Energy is set to collaborate with Paneco Group for approximately 2.5 GWh of storage systems in Europe [14] - Tianneng signed a strategic cooperation agreement for 2 GW of storage equipment in Africa [15][16] - Linyang Energy will provide 275 MWh of storage solutions for a project in Poland [17] Conclusion - The recent surge in international contracts signifies a comprehensive global market penetration by Chinese energy storage companies, evolving from simple product supply to collaborative development and full lifecycle services [17]

Core Viewpoint - Trina Solar (688599.SH) has repurchased a total of 18.6798 million shares, accounting for 0.86% of its total share capital, with a total repurchase amount of 310 million yuan [1] Summary by Category - **Share Repurchase Details** - The company has completed the repurchase of 18.6798 million shares [1] - This represents 0.86% of the company's total share capital [1] - The total amount spent on the repurchase is 310 million yuan [1]