Sineng Electric's subscription today actively integrates into the energy Internet and enters the energy storage field

China Energy Storage Network News: On March 31, Sungrow Electric Co., Ltd. ("Sungrow Electric") officially opened subscription. The company's total issuance this time is 18.3336 million shares, of which 18.3335 million shares are issued online. The subscription code is 300827, the subscription price is 21.64 yuan/share, the issue price-earnings ratio is 21.51 times, and the upper limit of subscription for a single account is 18,000 shares.

"Technology + Service" two-way upgrade high R&D to create product barriers

It is understood that in order to maintain the company's competitiveness and industry influence, Sineng Electric has continued to increase its R&D investment in recent years and deepen its industry technology. According to the company's latest prospectus, the company's R&D investment accounted for 5.77%, 5.35% and 6.34% of its operating income in the past three years, respectively, and R&D investment has remained at a high level.

The main members of the company's R&D team have R&D experience in the world's top 500 companies, and the core technical personnel have more than 10 years of experience in power electronic device R&D, with strong R&D capabilities. In recent years, the company has successively launched the "inverter boost" integrated solution integrated with transformer products, the "photovoltaic storage" integrated solution integrated with energy storage equipment, and the 1500V MW-level high-voltage and large-capacity inverter solution, thus ensuring the company's leading R&D advantages.

In terms of photovoltaic power generation, Sungrow Electric is currently able to provide comprehensive solutions for various photovoltaic power generation systems such as large ground power stations, complex mountain power stations, water power stations, industrial and commercial rooftops, and household distributed power stations. In recent years, many of the company's products have been rated as high-tech products.

Industry insiders said that with the implementation of a number of photovoltaic policies in 2020 and the increase in new installed capacity, the company's profitability may be further enhanced.

The global photovoltaic industry has a promising future and the company is stepping up its investment in the photovoltaic equipment field

Wang Bohua, Vice Chairman and Secretary General of the China Photovoltaic Industry Association, once said in an interview that the newly installed capacity of domestic photovoltaic power generation is expected to reach 40GW in 2020, showing a recovery growth. Although the scale of domestic photovoltaic power generation installed capacity declined in the short term in 2019 due to the impact of the domestic "531 New Policy", Sineng Electric said that the implementation of the "531 New Policy" will effectively promote the industry's pace of achieving "grid parity". The company's good product quality and market layout have been highly recognized by domestic and foreign markets in recent years.

It is understood that in recent years, Sineng Electric has continued to increase its research and development efforts on centralized, distributed inverters and string inverters, and expanded its product categories. While reaching stable cooperation with central enterprises such as China Power Construction, State Power Investment Corporation, China Energy Engineering, China Datang, and well-known state-owned and private enterprises in the domestic industry, it has actively expanded its overseas market. The company established a factory in India in 2017, and used this as a foothold to gradually radiate its business to Southeast Asia, the Middle East, Africa and other countries with rapid growth in new investment in photovoltaic power generation.

After deducting the issuance expenses, the funds raised from the public offering of new shares by Sungrow Electric will be invested in five projects, including the "High-efficiency Intelligent Inverter Industrialization Project" and the "Energy Storage Bidirectional Converter and Energy Storage System Integration Industrialization Project", to further increase investment in the inverter and energy storage fields. It is expected to help the company achieve mass production and further reduce unit production costs, improve the company's competitiveness, and obtain greater profit margins.

Regarding the future development direction, Sungrow Electric stated that the company will maintain new energy-related products as an important business area for the company's development, while actively integrating into the energy Internet, entering the energy storage field, accelerating the development of power quality management products, and providing solutions for the intelligent construction of power grids, becoming a leader in the power electronic conversion technology industry and an excellent supplier of related products and services.