Deye(SH:605117) 智通财经网·2026-01-27 12:46Core Viewpoint - Ningbo Deye Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, aiming to leverage its position as a leading provider of solar and energy storage products to offer sustainable energy solutions globally [1]. Company Overview - Deye Technology focuses on the renewable energy sector, particularly in energy storage inverters, photovoltaic inverters, and energy storage battery packs, while also maintaining a strong presence in environmental appliances such as dehumidifiers and solar air conditioners [3]. - The company has diversified its product offerings, selling to over 150 countries across six continents, which has contributed to its growth and resilience [3]. Product Details - Energy storage inverters are a core business for Deye, capable of converting direct current to alternating current and supporting energy storage functions. They offer seamless switching and customizable charging/discharging periods [5]. - Deye's energy storage inverters range from 3KW to 125KW, catering to residential and commercial applications, and it ranks first in global revenue for household energy storage inverters in 2024 [5]. - The company provides a full range of energy storage battery packs designed for various applications, ensuring compatibility with its inverters and featuring modular designs for flexibility and easy installation [6]. - Deye's photovoltaic inverters include string inverters and microinverters, with power ratings from 1kW to 136kW, and it ranks seventh in global revenue for household photovoltaic inverters in 2024 [7]. Financial Performance - For the fiscal year 2023, Deye reported revenues of approximately RMB 7.48 billion, with a projected increase to RMB 11.21 billion in 2024 [10]. - The company achieved a net profit of around RMB 1.79 billion in 2023, expected to rise to RMB 2.96 billion in 2024 [10]. - The gross profit margin for 2023 was 39.2%, with slight decreases projected for 2024 and 2025 [11]. Industry Overview - The global household energy storage inverter market is expected to grow significantly, with a projected market size increase from RMB 1.7 billion in 2020 to RMB 14.5 billion by 2024, reflecting a compound annual growth rate (CAGR) of 71.8% [12]. - The solar photovoltaic inverter market is also expanding, with revenues expected to rise from RMB 63.7 billion in 2020 to RMB 154 billion in 2024, indicating a CAGR of 24.7% [15].