Chint Electrics Becomes 13th Domestic PV Enterprise to Reach a Market Cap of 100 Billion Yuan

PVTIME – On August 4, as its market cap surpassed the 100 billion yuan milestone, Chint Electrics joined LONGi, Tongwei, Sungrow, Zhonghuan Semiconductor, Xinyi Solar, Lead Intelligence, Fuyao Glass, Foster, Flat Glass Group, Daqo Energy, Naura, and JA Solar as the 13th Chinese photovoltaic enterprise to have its market cap reach 100 billion yuan.

In 2020, Chint Electrics’ total revenue rose 10.02% year-on-year to 33.253 billion yuan, a year-on-year increase of 10.02%, and its net profit was 6.427 billion yuan, a year-on-year increase of 70.85%. For the entire year of last year, the company’s low-voltage electrical appliances revenue was 18.422 billion yuan, and its photovoltaic business was 14.132 billion yuan. Among them, solar module revenue was 7.933 billion yuan, power station operation revenue was 3.384 billion yuan, and photovoltaic power station project contracting was 2.815 billion yuan. The annual overseas income of Chint Electrics was 9.202 billion yuan, the income of East China, North China, and Northwest China were 12.643 billion, 2.015 billion, and 1.854 billion yuan, respectively. The income of Southwest and Northeast China was 1.724 billion and 994 million yuan.

Chint Electrics is a subsidiary of Chint Group. Founded in 1984, Chint is a leading global provider of smart energy solutions. It is actively deploying “4+1” industrial sectors including smart electrics, green energy, industrial control and automation, smart home and incubator, forming an integrated whole industry chain of “power generation, storage, transmission, substation, distribution, sales and consumption”. And it boasts an extensive business network across over 140 countries and regions as well as more than 30,000 employees and an annual sales revenue of over USD 11.4 billion. Chint has been ranking among China’s Top 500 companies for 18 consecutive years. Its subsidiary, Chint Electrics is the first company in China with low-voltage electrics as its main business getting listed on the A-share market as one of the Top 50 Asian listed companies.

To comply with the trend of integrated development of modern energy, intelligent manufacturing and digital technology, CHINT has adopted “One Cloud & Two Nets” as the business strategy. Chint Cloud fulfills digital application and services in both internal and external as the platform of intelligent technology and data application. Based on the Industrial Internet of Things (IIoT), Chint built an intelligent manufacturing system and realizes intelligent application in electrical industry. Relying on the Energy Internet of Things (EIoT), Chint built its smart energy system and develops the regional EIoT mode.

Focusing on energy system of supply, storage, transmission, distribution and consumption, Chint has core businesses of clean energy, energy distribution, big data and energy value-added services. Furthermore, Chint pillar businesses include photovoltaic equipment, energy storage, power transmission & distribution, low-voltage apparatuses, intelligent terminals, software development and control automation. With developing into a platform-based enterprise, Chint provides a package of energy solutions for public institutions, industrial & commercial users and end users, by building a regional smart energy operation ecosphere.