Trina Solar buys 1.6% of film maker Baijia Niandai for $5.98M
What's the deal? Trina Solar announced on October 15 that it will pay US$5.5M (roughly $5.98 million) for a 1.6% stake in Changzhou Baijia Niandai Film TechnologyDealroom has a profile for this one. Try Dealroom →. The purchase covers 3.274 million shares acquired from Jiangsu Baixing Industrial Investment GroupDealroom has a profile for this one. Try Dealroom →.
Who is the target? Founded in 2007, Baijia Niandai makes polymer functional films and composite materials used in solar, energy storage, and lithium battery applications. Its photovoltaic encapsulant film and card materials rank among the top three globally by market share, and it holds China's Ministry of Industry and Information Technology "little giant" designation.
Why now? Trina Solar said Baijia Niandai's industry shows "strong synergy" with its own business, and the deal aims to deepen cooperation and secure supply-chain stability. The transaction is classified as a related-party deal: Baijia Niandai shareholder Wu Weizhong is the brother of the spouse of Trina's controlling shareholder, Gao Jifan.
By the numbers: Baijia Niandai posted 2025 revenue of US$434.5M but a net loss of US$24.3M. It returned to profit in the first quarter of this year, reporting US$89.9M in revenue and net income of US$3.89M. The company abandoned a planned Shanghai IPO in June 2024 that had sought to raise US$219.6M.
What about the acquirer? Trina Solar's own results are recovering. First-half 2026 revenue reached US$4.4B, up 2.99% year on year, while its net loss narrowed 90.8% to US$37.1M. Its second quarter swung to a net profit of US$1.79M.
What's the endgame? Trina shipped more than 25GW of modules in the first half, ranking among the top three globally, most of them N-type. Its storage business is growing faster, with first-half revenue up 92.3% to US$339.6M and shipments over 5GWh, more than 90% of them overseas.
The signal: Trina told its mid-year briefing that the solar industry has entered the tail of a U-shaped cycle, with module prices expected to rise as a seasonal peak arrives and anti-price-war efforts continue. Taking an equity stake in a key materials supplier signals how downstream manufacturers are locking in upstream ties as the sector looks for a bottom.
Read more: sohu.com
Image credit: born1945
