GoodWe strengthens efforts to power a net-zero future

LONDON,Oct. 25,2021 -- In the past Bloomberg New Energy Finance (BNEF) London Summit,GoodWe presented as Summit Partner and delivered its practical solutions on how the energy needs of the future can be met in order to realize net-zero goals set by companies,cities,and countries worldwide. The summit is a powerful platform for leaders in energy,industry,technology,finance,and policy to provide innovative ideas and insights that will capitalize on technological change to shape a cleaner,net-zero future. GoodWe has vowed to develop energy storage solutions that will enable the provision of round-the-clock zero-emissions power.

The company's 2021 semi-annual financial report,exemplifies the strengthening trends growing around both renewable energy generation and industrial energy storage. GoodWe shipped nearly 217,500 units of its grid-connected PV inverters to markets across the globe,accounting for 66% of annual shipments in 2020 (which totaled 330,000 units).

In the fast-emerging segment of energy storage Power Conversion Systems (PCS),GoodWe made shipments of about 21,000 units in the first half of the year. This shows that GoodWe has been able to retain its lead in the residential energy storage inverters market amidst fierce competition.

Financial data for the first half of the year shows that GoodWe achieved a revenue of USD 168 million,a net profit attributable to the parent company of USD 23.7 million,and a net profit after deduction of USD 22 million,constituting a 26.66% year-on-year increase.

Distributed PV systems are one of GoodWe's core competencies and this explains why capital markets are optimistic about GoodWe and its ability to leverage growing market demand and positive policy trends to deliver strong financial performance. GoodWe is also launching an "offensive" into the large-scale ground-mounted power plant market. Its HT 1500V high-power inverter has been applied on many ground projects across the globe. The combination of safety and reliability is the competitive advantage that has enabled GoodWe to differentiate itself from competition. The Semi-Annual Report shows that the Company's string inverters currently cover a power range of 0.7-250 kW,making them capable of fully meeting the energy needs of residential,industrial and commercial operations,as well as large-scale ground power stations.

Thanks to the strategic market positioning of its PV and energy storage inverters,GoodWe has also successfully managed to enter the energy storage lithium battery space,launching a variety of energy storage lithium battery systems that are suitable for residential,commercial,and industrial use. From an industry perspective,the market for this product line is poised to grow incrementally,and may be larger than that of inverters,making this a very interesting development that is certainly worth watching closely.

CONTACT: Verena Zhu,+86-13814828193