On the morning of April 2, SOFAR (301658.SZ) was officially listed on the GEM Board of the Shenzhen Stock Exchange.
Since its establishment in 2013, Shenzhen SOFARSOLAR Co., Ltd. (SOFAR) has been focusing on the conversion, storage and management of solar power. Its core products cover string photovoltaic inverters ranging from 1-320kW, photovoltaic energy storage inverters ranging from 3 - 20kW, energy storage batteries and photovoltaic system accessories, providing one-stop photovoltaic and energy storage energy system solutions for households, industrial and commercial users and large-scale ground power stations.
Data shows that the operating revenues of SOFAR in 2021, 2022, 2023 and January-June 2024 were CNY 1.826 billion, CNY 4.457 billion, CNY 3.743 billion and CNY 1.469 billion respectively, and the net profits were CNY 131 million, CNY 341 million, CNY 849 million and CNY 187 million respectively. Overseas business revenue accounts for about 80% of SOFAR's total revenue, mainly sold to regions such as Europe, Brazil and India.
As of the end of June 2024, the global shipment volume of SOFAR inverters has exceeded 34GW. From 2020 to 2022, the company's average annual compound growth rate exceeded 100%. SOFAR has won the China "CQC" certification, becoming one of the TOP 5 brands of photovoltaic inverters in China and the TOP 5 global energy storage inverter brands. It has also been rated as the "Top Photovoltaic Inverter Brand" in India, Poland, the United Kingdom, Italy, Brazil and Australia by EUPD.
As a globally leading provider of full-scenario photovoltaic and energy storage solutions, SOFAR has set up 3 R&D centers around the world and built 2 major production bases globally. Its product supply chain comes from all over the world. Its products are sold in batches to more than 100 countries and regions globally. It has established localized service platforms in more than 20 countries and regions such as the United Kingdom, Poland and Germany; set up after-sales service centers in Poland and the Czech Republic; and established a warehousing management center in the Netherlands.