Xinyi Energy sells majority stake in Tianjin solar farm for 514.59m yuan

Xinyi Energy Holdings Limited, a solar farm owner and operator, and Xinyi Solar Holdings Limited, a solar glass products producer and solar farm developer, announced a joint transaction. Xinyi Energy agreed to dispose of a 51% equity interest in Xinyi Solar (Tianjin) Limited for a cash consideration of 514.59 million yuan, subject to adjustments. This move will result in Xinyi Solar (Tianjin) ceasing to be a subsidiary of Xinyi Energy and Xinyi Solar, with remaining interests accounted for using the equity method.

The transaction's consideration was determined through arm's length negotiations, taking into account Xinyi Solar (Tianjin)'s registered capital of $48.00 million as of June 30, 2025, and a valuation of 1,009.00 million yuan. The XYE Group and XYS Group anticipate recording after-tax gains on disposal of 161.22 million yuan and 157.34 million yuan, respectively, for the year ending December 31, 2025. Completion of the transfer is expected by December 31, 2025.

The purchaser for this disposal is Tianjin Binhai CINE, which is owned by Tianjin Binhai NE (50%), North International Trust Shares Company Limited (25%), and Tianjin Binhai Construction Investment City Construction Development Company Limited (25%). Xinyi Energy will continue to provide management services to the Tianjin Huanggang Zone Solar Farm, owned by Xinyi Solar (Tianjin), and will receive service fees in return.