The Chinese language solar inverter producer GoodWe lists in Shanghai – Renewables Now
September 7 (Renewables Now) – Chinese solar inverter manufacturer GoodWe has completed its IPO in Shanghai and its shares are already publicly traded.
After the IPO, which coincided with the company's 10th anniversary, GoodWe is officially listed as a public company. Starting Friday, the common stock will trade on the Shanghai Stock Market under the symbol "688390".
GoodWe produces and sells its PV inverters in more than 80 countries. It offers both inverter and energy storage solutions for private and commercial PV systems.
The Chinese company outlined the four main pillars that will support its business growth strategy. In particular, the inverter technology and battery compatibility are to be further improved over the next two years and expanded through the opening of new branches worldwide. The company has invested CNY 160 million (US $ 23.4 million / EUR 19.8 million) in a new production line at its Guangde facility.
In addition, GoodWe plans to invest 200 million CNY in a new research and development (R&D) facility to develop “cutting-edge technology” and, from 2021, new versions of its inverter series, the HT series, with an output of up to 250 kW bring the market.
"We have achieved good results in a relatively short period of time and are confident that the company will grow in the future," said CEO Daniel Huang, adding that the IPO marks the beginning of a new chapter for the company.
(CNY 1.0 = USD 0.146 / EUR 0.124)