PVTIME – Chint Anneng, a C-end integrated energy services industry company of Chint Group, updated its listing application review on the Shanghai Stock Exchange on 6 September 2023 that its IPO application has been accepted.
The proceeds from the IPO, after deducting expenses, will be utilized for various solar-related projects, such as the household solar system collaboration project, information platform construction, and additional working capital and repayment of bank loans. The total investment expected for these projects amounts to approximately 6.9 billion yuan, of which 6 billion yuan will be raised through the IPO.
In addition, Chint Anneng is a leading installer of household solar systems. The new grid-connected household PV project reached an installed capacity of 1.82GW, 4.57GW, 7.54GW and 5.33GW respectively in 2020, 2021, 2022 and H1 2023 with a compound annual growth rate (CAGR) of 103.54%.
Moreover, between 2020 and 2022, Chint Anneng’s revenue was 1.633 billion yuan, 5.631 billion yuan and 13.704 billion yuan respectively. In H1 2023, the amount was 13.705 billion pounds, surpassing the annual revenue earned in 2022. Its net profit figures were 254 million pounds, 867 million pounds, and 1.753 billion pounds from 2020 to 2022 respectively. In H1 2023, a net profit of 1.202 billion pounds was attained.
