Company structure

Gigasun AB (publ) was founded on 1 March 2016 and registered with the Swedish Companies Registration Office on 30 March 2016.

The Company has one wholly-owned dormant subsidiary in Sweden, ST-Solar Holding AB, and two wholly-owned subsidiaries in China, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. and Longrui Solar Energy (Suqian) Co. Ltd.

The business activity of the parent company consists of financing the group’s solar PV panel installations.

Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd.

Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. was established and registered on 16 October 2015. The company has more than 40 directly or indirectly owned subsidiaries.

The company’s operations are to build, own and manage solar PV panel installations for customers who under long-term contracts undertake to purchase all electricity that the plants produce.

Longrui Solar Energy (Suqian) Co. Ltd.

Longrui Solar Energy (Suqian) Co. Ltd. was established and registered on 9 May 2019. The company has more than 10 directly or indirectly owned subsidiaries.

The company’s operations are to build, own and manage solar PV panel installations for customers who under long-term contracts undertake to purchase all electricity that the plants produce.

Subsidiaries of Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. and Longrui Solar Energy (Suqian) Co. Ltd.

The reason for the establishment of subsidiaries in the PRC is that cities or municipalities in China where solar PV panel installations are installed have requested Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. or Longrui Solar Energy (Suqian) Co. Ltd. to establish subsidiaries. In order to receive various subsidies for the electricity generated by solar PV panel installations, a city or municipality may require a company to establish wholly-owned subsidiaries for the solar PV panel installation established in that relevant city or municipality.