TRINA(SH:688599) Zhong Guo Jing Ji Wang·2025-08-13 06:52Core Viewpoint - Tianhe Solar announced a share reduction plan by its shareholder, Jiangsu Youze Venture Capital Group, intending to sell up to 0.5724% of the company's total shares due to its own development and funding needs [1] Shareholder Reduction Plan - Jiangsu Youze plans to reduce its holdings by a maximum of 12,474,897 shares from September 2, 2025, to December 1, 2025, through block trading or centralized bidding [1] - The reduction will not affect the holdings of the controlling shareholder, Gao Jifan, and other associated parties [1] Shareholding Structure - Gao Jifan, the controlling shareholder and actual controller of Tianhe Solar, holds 35.61% of the company's shares, with direct holdings of 12.12% and indirect holdings through controlled entities [2][3] - Jiangsu Youze holds 0.5724% of the shares, which were listed for trading on June 12, 2023 [1][2] Financial Performance - In 2024, Tianhe Solar reported a revenue of 80.28 billion yuan, a decrease of 29.21% year-on-year, and a net loss attributable to shareholders of 34.43 billion yuan compared to a profit of 55.27 billion yuan in 2023 [7][8] - The company experienced a significant decline in cash flow from operating activities, with a net cash flow of 8.01 billion yuan in 2024, down 66.63% from 2023 [8] Recent Bond Issuances - Tianhe Solar issued convertible bonds in 2023, raising a total of 8.86 billion yuan, with a net amount of 8.82 billion yuan after deducting issuance costs [6]