GoodWe marks 'brand-new phase' as it finishes IPO, notes on Shanghai Stock Exchange

Sep 7, 2020 01:06 PM ET
  • Inverter producer GoodWe has actually detailed on the Shanghai Stock Exchange, with the business backing its IPO to aid it go after a new growth method.
GoodWe marks 'brand-new phase' as it finishes IPO, notes on Shanghai Stock Exchange
Image: GoodWe

The Chinese company verified on Friday 4 September 2020 that it had actually formally detailed on Shanghai's stock market complying with a going public (IPO) of ordinary shares, a day GoodWe stated was symbolic as it coincided with the business's tenth wedding anniversary.

" GoodWe has accomplished consistent, constant as well as sustainable development for a number of years as well as has shown, every year, that its financial success is a result of its detailed method of strategic development as well as debt consolidation.

" We have been functioning non-stop for over ten years as well as have actually reached new frontiers. The IPO notes the start of a new phase" Daniel Huang, president at GoodWe, claimed.

GoodWe stated its future development method would certainly concentrate on 4 certain pillars, particularly energy storage, a development of neighborhood sales networks in new markets, a rise in funds dedicated in the direction of R&D and also a brand-new focus on utility-scale projects.

Amongst its initiatives adhering to the IPO are:

  • A dedication to further enhance its inverter innovation and battery storage space capability over the next 2 years;
  • Expand its international reach by developing offices in "every significant market", while also spending RMB160 million (US$ 23.4 million) in a brand-new assembly line at its center in Guangde;
  • Spend RMB200 million (US$ 29.2 million) in a new r & d facility with a concentrate on establishing "reducing side modern technology", and also;
  • Introduce brand-new versions of its HT series of inverters with capacities of approximately 250kW from 2021.

"We have actually achieved excellent lead to a reasonably short time and also we are certain about the firm's future growth trajectory. At GoodWe we do not wonder what the future holds, we shape the future with our actions as well as advancements," Rong Shen, VP of global sales, stated.

Having opened up trading on 4 September 2020 at RMB114, shares in GoodWe closed the day at RMB134, up 17.5%.

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