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Chinese solar panel manufacturer reports that the daughter of its founder is set to marry the founder of a contemporary tea brand. An insider from the company shared with Jiemian News that Gao Jifan and Zhang Junjie will soon celebrate their wedding. The couple met at a young entrepreneurs’ event and have already registered their marriage. Since this is a private matter, the company has requested that their privacy be respected.
Gao is the daughter of the company’s founder, current controller, and chairman, Gao Jifan. Born in 1993, she is a graduate of Brown University and joined the family business in June 2017. She now serves as co-chairwoman. The Gao family was listed on the 2024 Hurun Rich List, with a net worth of approximately 14.5 billion yuan (around 2 billion USD).
Zhang, also born in 1993, began his career working at a milk tea shop before founding his tea brand from scratch. He is the CEO and chairman of the company. Zhang made his first appearance on the Hurun Rich List this year, with a net worth estimated at 13.5 billion yuan.
Founded in 1997, the company primarily focuses on photovoltaic products, systems, and smart energy solutions. In the first three quarters of this year, it generated nearly 50 billion yuan in revenue, ranking second in the industry behind Longi Green Energy. However, industry challenges resulted in a net loss of over 4.1 billion yuan (about 576.5 million USD) during this period.
Shares of the solar company declined 3.7 percent today in Shanghai, closing at 18.44 yuan (roughly 2.59 USD), with a market capitalization of approximately 43.2 billion yuan.
The tea company, founded in 2017, now operates over 7,000 stores worldwide. In the second quarter, its revenue increased 10 percent year-over-year to 3.3 billion yuan, while net profit decreased by 89 percent to 66 million yuan (about 9.3 million USD). The company’s overseas gross merchandise volume surged 77 percent to 235.2 million yuan (around 33.1 million USD) during the same period.
In New York, the company’s stock fell 8.1 percent to $13.07 yesterday, with a market value of approximately $2.4 billion.
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