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| <NonNumbericText> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 1 - us-gaap:NatureOfOperations--> <div align="left" style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="center" style="font-size: 10pt; margin-top: 0pt"> </div> <!-- xbrl,ns --> <!-- xbrl,nx --> <div align="left"> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"><b></b> </div> <div align="center" style="font-size: 10pt"><b></b> <b></b></div> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left">1.</td> <td width="1%"> </td> <td>ORGANIZATION AND PRINCIPAL ACTIVITIES</td> </tr> </table> </div> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left"> </td> <td width="1%"> </td> <td>Trina Solar Limited (“Trina”) was incorporated under the laws of the Cayman Islands on March 14, 2006. As of December 31, 2010, the major subsidiaries of Trina are included in Appendix 1.</td> </tr> </table> </div> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left"> </td> <td width="1%"> </td> <td>Trina Solar Limited, its subsidiaries and variable interest entities (“VIE”) (collectively the “Company”) are principally engaged in the manufacturing and selling of solar modules in the People’s Republic of China (the “PRC”) and overseas.</td> </tr> </table> </div> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left"> </td> <td width="1%"> </td> <td>In 2009, Trina began entering into arrangements to develop commercial solar power systems (“project assets”). For each project, a special purpose vehicle (“SPV”) is established for the purpose of holding the project assets and is funded via a nominal equity contribution by an engineering procurement and construction contractor. Trina, through a series of contractual arrangements, among other things, (i) supplies all solar modules and other related products to the SPV, which are a significant component of project asset cost, (ii) has substantive management rights and oversight in the SPV and the construction process, and (iii) is contractually required to acquire the project assets upon construction completion. As a result, Trina has a controlling financial interest in the SPVs and is deemed their primary beneficiary and, accordingly, the financial position and results of operations, if any, of the SPVs are included in the consolidated financial statements of the Company. The details of the project assets are discussed in Note 2(j). All SPVs are included in Appendix 1.</td> </tr> </table> </div> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" nowrap="nowrap" align="left"> </td> <td width="1%"> </td> <td>On January 19, 2010, the Company changed the ratio of its ordinary shares to American Depositary Shares (“ADSs”) from one hundred (100) ordinary shares to one ADS to fifty (50) ordinary shares to one ADS. Such transaction has been retroactively reflected for all periods presented.</td> </tr> </table> </div> </div> </NonNumbericText> |
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