According to recent updates on business information platforms, Wuxi Suntech Solar Power Co., Ltd., a veteran giant in the photovoltaic industry, has appointed a new chairman. The list of key personnel shows that Wan Yingzi has assumed the role of chairman, with Li Lu, Li Yao, and Xu Yi serving as directors, He Shufan as director and general manager, and Wang Yang as supervisor.
Previously, on the evening of July 8, HY Solar announced that its subsidiary, HY Photonics (Wuxi) Co., Ltd., signed a Cooperative Management Agreement with Jiangsu Shunfeng Photoelectric Technology Co., Ltd. to participate in the production and management of Wuxi Suntech, with the intention of potentially investing in Suntech’s pre-restructuring process. From the perspective of HY Solar as the new managing entity, it is highly likely that Wan Yingzi, the newly appointed chairman of Wuxi Suntech, is an executive dispatched by HY Solar.
Currently, HY Solar has only signed the Cooperative Management Agreement and has not formally participated in Wuxi Suntech’s restructuring, with no capital investment or equity changes involved. The company stated that if it participates in the pre-restructuring process in the future, it will disclose the details promptly. This indicates that HY Solar’s current involvement is primarily in a “trusteeship” capacity, aimed at stabilizing Suntech’s operations and paving the way for potential future restructuring.
As a once-leading player in the photovoltaic industry, Wuxi Suntech possesses a strong foundation and overseas brand influence. HY Solar, which has built an integrated industrial chain in recent years, is expected to leverage Suntech’s brand to expand into overseas markets and revitalize its own business through this trusteeship arrangement.
