Shenzhen's new energy enterprises bucked the trend and completed shareholding reforms smoothly

International New Energy Network News: On June 28, Growatt New Energy held a press conference in Shenzhen to announce that its equity split reform plan was successfully passed. This Chinese inverter company, which is backed by Sequoia Capital, has taken another crucial step towards the capital market. In addition, at the press conference, Growatt also released a new high-efficiency inverter with a conversion efficiency of up to 99%, which is the world's leading. This made the participants once again deeply feel the strong strength of Shenzhen new energy company Growatt in entering the capital market.

Growatt New Energy was established in March 2010. It is one of the domestic photovoltaic inverter companies with the most complete product series and the fastest growth rate. Growatt successfully became the number one exporter of photovoltaic inverters in China in just 18 months after its establishment in May 2010, which is regarded as a legend in the industry. What shocked the industry even more was that in early 2011, with its good development momentum and huge development potential, the company successfully obtained nearly 100 million yuan in investment from Sequoia Capital and China Merchants Technology. The aura of capital and excellent performance in domestic and foreign markets made Growatt a star in the industry.

Sequoia Capital has always been known for its "unique vision" in the venture capital industry, and has invested in many world-renowned companies such as Apple, Google, Cisco, Oracle, Yahoo, Linkedin, etc. This time, Sequoia Capital was attracted to Growatt not only because of the bright prospects of the solar photovoltaic industry, but also because of the advantages of Growatt's team and core competitiveness.

The smooth passage of the equity split reform plan has attracted many interpretations from industry insiders. Not long ago, the National Energy Administration issued the "Notice on Applying for Distributed Photovoltaic Power Generation Large-Scale Application Demonstration Zone", which was seen as an important opportunity to open up the domestic photovoltaic application market. Subsequently, the State Grid issued the "Opinions on Doing a Good Job in Distributed Photovoltaic Power Generation Grid Connection Service", strongly supporting distributed power generation grid connection. With the large-scale construction and promotion of distributed photovoltaic power generation, the domestic solar photovoltaic installed capacity will grow on a large scale, presenting a "red ocean" situation. Obviously, as the first supplier of distributed inverters, Growatt is facing even greater market opportunities. The smooth passage of the equity split reform plan means that all shareholders of Growatt will form a more solid foundation of common interests, and it will also be conducive to further improving the corporate governance structure and the modern enterprise system, improving the company's operating efficiency, and better welcoming the embrace of the capital market.

In fact, Growatt has invested a total of about RMB 20 million in the construction of a new plant since the second half of 2012, and has built a highly automated photovoltaic inverter production line, including 6 small and medium power inverter production lines and 5 centralized inverter production lines. The new production line has reached the domestic leading and international advanced level in terms of automation level and product quality control.

After the press conference, the media reporters visited Growatt’s production workshop. The staff told the reporters that it is now operating at full capacity and everyone is full of enthusiasm to strive to gain a place in the global emerging market.