Chinese photovoltaic module maker Trina Solar has confirmed that the daughter of its founder will marry the founder and chief executive of new-style tea chain Chagee, creating a union between two of the country’s prominent young entrepreneurs.
An official at Trina Solar told Jiemian News that Chairman Gao Jifan’s daughter, Gao Jifan, and Chagee CEO Zhang Junjie will soon hold their wedding ceremony. The two met at a young entrepreneurs’ event and have already registered their marriage, the official said. The company added that the matter is personal and asked the public to respect their privacy.
Gao, born in 1993, graduated from Brown University before joining Trina Solar in 2017. She now serves as the company’s co-chairwoman. The Gao family appeared on the 2024 Hurun Rich List with an estimated net worth of about USD2 billion.
Zhang, also born in 1993, began his career working in a milk tea shop before founding Chagee from the ground up. He debuted on the Hurun Rich List this year with a personal fortune equivalent to USD1.9 billion. He currently serves as Chagee’s chairman and CEO.
Founded in 1997, Trina Solar is one of China’s largest makers of photovoltaic products and smart energy solutions. The company generated approximately USD7 billion in operating revenue in the first three quarters of the year, ranking second in the industry after Longi Green Energy. However, it recorded a net loss of roughly USD576.5 million during the same period due to persistent industry headwinds.
Shares of Trina Solar [SHA: 688599] fell 3.7% to USD2.59 in Shanghai trading on Wednesday, valuing the company at about USD6.1 billion.
Chagee, founded in 2017, has grown into one of China’s largest new-style tea brands, with more than 7,000 stores worldwide. The company reported second-quarter revenue of about USD460 million, up 10% from a year earlier, but its net profit slumped 89% to USD9.3 million amid rising expenses and expansion costs. Chagee’s overseas gross merchandise volume surged 77% to USD33.1 million over the same period.
Chagee’s U.S.-listed shares [NASDAQ: CHA] dropped 8.1% to USD13.07 on Tuesday, giving the company a market capitalization of roughly USD2.4 billion.
The high-profile marriage joins two influential families from China’s fast-growing renewable energy and consumer retail sectors, each representing next-generation entrepreneurial success stories.
