In 2017, CDH Private Credit invested in Trina Solar, a company with steady market share and innovative advantage in the PV field. Trina Solar’s PV cells have set and broken 25 world records in terms of conversion efficiency and module output power. Additionally, Trina Solar has first-mover advantage in 210 large-size modules and distributed solar systems. Moreover, after several rounds of sector cyclicals, Trina Solar can always maintain stable expansion and investment. Since 2011, the company's module shipments have ranked among the top four in the world for 11 consecutive years, with a solid industry leading position. In June 2020, Trina Solar was listed on the STAR Market. CDH Private Credit encourages new energy companies to promote technological innovation and create long-term sustainable value.

In 2019, CDH Private Credit invested in Yovole Networks, a leading IDC and cloud computing operator in China, who has become CDH’s long-term strategic partner ever since. Yovole Networks was one of the pioneering companies in China to enter the IDC market and has developed into one of the largest non-listed IDC operators. Yovole’s asset quality is industry-leading while all its data centers under operation/construction are in first-tier cities. Two of Yovole’s data centers have been selected by Chinese Ministry of Industry and Information Technology (“MIIT”) as exemplars of national modern data centers. CDH Private Credit will continue to support the “new infrastructure” and digital economy development strategy by investing in high quality IDC assets and service providers.

Shanghai Wensheng Asset Management is a leading private non-performing asset service provider in China. Its principal business includes NPL disposal, real estate restructuring, and corporate restructuring. In 2019, CDH Private Credit invested an equity stake in Shanghai Wensheng and obtained a board seat. The investment has formed a strategic synergy by combining CDH’s financial resources, industrial integration capabilities and market insights with Shanghai Wensheng’s execution strength in terms of asset disposal and restructuring. Several single credit and NPL portfolio deals have been closed since then. In 2022, CDH Private Credit has partnered with IFC to set up its first QFLP platform specializing in special opportunities investments, and jointly appointed Shanghai Wensheng as the main NPL service provider of the QFLP platform, which marked a significant breakthrough in terms of our strategic alliance in the special opportunities field.

In 2019, CDH Private Credit provided RMB700 million financing to a long-term strategic partner. The underlying asset is an urban renewal development project in Pingshan District of Shenzhen. The project covers a land area of 58,000 square meters and is developed in two phases. Phase I has achieved 100% sell-through in 4Q 2020 while Phase II has confirmed development qualification and started presale in 2021. CDH Private Credit focuses on various investment opportunities (old village renovation, industrial assets transforming into commercials / industrial parks / affordable housings etc.) in the urban renewal sector which is encouraged by national policies. By consolidating investments from CDH Private Credit and our partners, existing industrial, commercial, and collective properties are revitalized through rebuilding and upgrading.

CDH Private Credit partnered with our strategic alliance to participate in the investment of the first publicly traded NPL portfolio of Peking University Founder Group at its bankruptcy reorganization stage in May 2022. The portfolio covers a variety of asset classes, including commercials, offices, apartments, shopping malls, and hotels, which are located in multiple new first-tier cities, with a total value of more than RMB10 billion. Under professional disposal and restructuring, the portfolio will be able to provide investors with considerable returns within controllable risks. This investment is of great meaning in term of revitalizing state-owned assets, resolving local financial distress, reducing market uncertainties, and ensuring timely deliveries of presold homes to protect people’s wellbeing. CDH and our partners can achieve good investment return while undertaking more social responsibilities and creating greater value for the whole society.