Great Power an ES Company to Start Solar PV Business

PVTIME – Guangzhou Great Power Energy and Technology Co.,Ltd.(Great Power)(300438.SZ), a China-based company primarily focused on researching, developing, producing, and selling electronic components, particularly lithium batteries, has increased its registered capital from 460 million yuan to 500 million yuan, marking an increase of around 9.15%. Simultaneously, its operations have extended towards the manufacturing and sales of photovoltaic equipment and components. It is expected that Great Power will pay attention to the solar PV market.

On 27th April 2023, Great Power and LONGi, the PV giant, came to a cooperative agreement. The two parties will work jointly in the deployment of renewable energy projects globally while sharing sales channels. This will enhance their capacity and market share. Furthermore, both parties will support each other in the renewable energy market with their unique advantages, innovative abilities and expertise in the solar PV and energy storage fields.

According to public data, Great Power was established in January 2001 and listed in 2015. It is one of the earliest companies involved in the research and development, production, and sales of batteries in China. In the 2021 global shipping ranking, Great Power stands at second place next to CATL. Great Power offers solutions for large-scale energy storage, household energy storage, communication base station energy storage, consumer batteries, new energy automobile power batteries, photovoltaic energy storage and smart charging.

In addition, Great Power recorded sales of 5,739.44 million yuan for the nine months ended 30 September 2023, as compared to 6,501.78 million yuan in the previous year. The revenue for the same period was 5,739.44 million yuan, which was a decline from the revenue of 6,501.78 million yuan in the previous year. The net income was 274.66 million yuan, a decrease from 443.13 million yuan the previous year. Basic earnings per share from continuing operations were 0.59 yuan, a drop from 1.00 yuan a year ago. Diluted earnings per share from continuing operations were 0.59 yuan, down from 0.97 yuan the previous year.

Scan the QR code to follow PVTIME official account on Wechat for latest news on PV+ES