February 17, 2009

Changzhou, China: Trina Solar Announces Selected Estimated Fourth Quarter and Full Year 2008 Financial Results

Trina Solar, a manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, today announced the following selected estimated financial results for the quarter and the full year ended December 31, 2008.

For the fourth quarter 2008, the Company expects:

-- total net revenues for the fourth quarter to exceed its previous guidance range of $190 million to $210 million
-- fourth quarter positive net operating cashflow to be approximately $60 million
-- short-term debt to be reduced by approximately $41 million to $249 million
-- a non-cash inventory provision between $16 million and $18 million

For the full year 2008, the Company expects:

-- total net revenues for the full year 2008 to meet its previous guidance range of $800 million to $850 million
-- total module shipments for the full year 2008 to meet its previous guidance range of 200 MW to 206 MW

"Against a very challenging operating environment, where preservation of cash and balance sheet fundamentals were our priorities, the notable reduction in both our silicon and non-silicon manufacturing costs resulted in our highest ever quarterly operating cashflow," said Mr. Jifan Gao, Chairman and CEO of Trina Solar. "This allowed us to significantly reduce our short-term debt to further improve our capital structure and maintain our liquidity for 2009."

The Company also announced that it anticipates a non-cash inventory provision between $16 million and $18 million mainly due to the revaluation of its silicon inventory linked to notable market price declines in the fourth quarter of 2008. The provision is expected to have a negative gross margin impact of 7% to 8%. With this provision, the Company expects its fourth quarter gross margin to be in the range of 9% to 10%, compared to its earlier previous guidance of 13% to 15%. The Company also expects its operating and net margins would be correspondingly affected.

Further details about: Trina Solar