The solar inverter market is very competitive with a few brands like ABB, SMA and Growatt who consistently occupy positions in the top 5 listings. This is mainly attributed to the large resources and investments required in terms of R&D, continuous customer support and design reliability required for an efficient life cycle of 15 plus years. Solis Inverters, an Australian clean energy council member, recently rose to this top position. This rise happened over 20+ years of design and innovation in the field of distributed PV power systems. Ningbo Ginlong technologies, their parent company, also posses numerous domestic and international patents.
As of last month, Ginlong Technologies, started publicly trading in the Shenzhen stock exchange. Ginlong raised over USD 79 million to accelerate its current overseas expansion. They already have dedicated offices and branches in over 20 countries, including Australia. During the IPO, about 20 million shares were offered at an offering price of RMB 26,54. Their stock code is “300763”, with Haitong Securities as the primary sponsor.
Through this IPO, Ginlong technologies will be aiming to expand and push their R&D, sales, support and marketing into western Europe and Oceanic territories – their primary consumers.