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One versatile company which, based on the same basic technology, covers the wind energy, solar, systems in storage and equipment for conversion, including wind energy converters, photovoltaic inverters and energy storage converters.
A reliability It is stability These components are extremely important for the proper operation of power plants and are also the strengths of the Hopewind.
A leader in the wind energy industry
Founded in April 2007 in Shenzhen, China, Hopewind's first commercial order was to supply core modules for wind energy converters. In 2009, Hopewind broke the voltage failure bottleneck caused by crossing trains for the first time in the world, demonstrating its intense technical strength. And the following year, the company signed hundreds of contracts for 1.5 MW wind power converters. From then on, its wind energy sector began to take off.
As a historic milestone for the company in 2017, Hopewind was listed on the main board of the Shanghai Stock Exchange. In 2020, the company's offshore wind energy converter began to attract global market attention.
Conquering the distributed PV market with excellent stability
Hopewind got its start in the solar business by engaging in large-scale photovoltaic power plant projects. In 2013, Hopewind pioneered the distributed photovoltaic inverter solution in China and, in the following year, batch shipped the first distributed photovoltaic inverters.
From 2020 to 2022, due to the impact of the Covid-19 pandemic, the supply of IGBT modules for photovoltaic inverters was reduced worldwide. When the industry experienced a serious supply shortage and product stability was affected, Hopewind launched the innovative IGBT single-tube parallel connection solution, thus achieving robust and continuous performance, and was then recognized as the brand of photovoltaic inverters Top 10 in China.
Powering the power electronics industry
Hopewind has a technical team center with an average of more than 20 years of experience in the electrical power industry. As of 2023, the company has nearly 800 R&D engineers and operates four major R&D and manufacturing bases in Shenzhen, Suzhou, Xi'an and Heyuan. While achieving great success in the areas of wind and photovoltaic energy, Hopewind has also continued to make advances in the electrical power industry.
In the field of energy storage, Hopewind offers energy storage converters (PCS), energy management systems (EMS), complete external energy storage systems and much more.
In 2022, Hopewind achieved breakthroughs in several hundred-megawatt energy storage projects, and its shipments of energy storage PCS products ranked eighth in the domestic market. In the field of high-power PCS of 30kW and above, Hopewind ranked ninth among Chinese inverter companies in the global market.
In 2023, Hopewind entered the field of hydrogen production, focusing on the development and production of high-power DC power supply products suitable for water electrolysis and hydrogen production electrolyzers.
Its HHP series water electrolysis hydrogen production power supply products utilize a fully controlled IGBT topology solution and feature a redundant modular design with significant “three ups and one down” characteristics (high efficiency, high reliability, high power factor and low harmonic distortion). This represents another major advancement for Hopewind in the green energy sector, following its success in the renewable energy generation and industrial drive sectors.
According to Hopewind, the company shipped batches of its SVG (static var generator) products in 2020, and its transmission technology was recognized as world-class. In 2022, the company won several unprecedented orders by leveraging its advantages in medium voltage drives and low voltage engineering drives. Throughout the year, industrial drive business revenue reached 371 million yuan, representing an increase of 84.98% over the previous year, with a gross profit margin as high as 44.59%.
Robust overall business performance
Hopewind positions itself as a “leading brand in wind, solar, hydrogen and energy storage.” Its recent business growth strongly proves this vision, demonstrating its capabilities. From the first to the third quarter of 2023, Hopewind achieved revenue of 2.615 billion yuan, a notable increase of 49.04% from the previous year.
Net profit attributable to the parent company reached approximately 401 million yuan, marking a substantial growth of 135.92% from the previous year. After deducting unprofitable items, net profit totaled about 319 million yuan, showing a notable increase of 133.58% from the previous year.
Revenue from the New Energy Electronic Control business grew by 51,61% year-on-year, while the industrial drive business saw an impressive 103,89% year-on-year growth. The company foresees a promising future for the expansion of its business.
The opinions and information expressed are the sole responsibility of the author and do not necessarily represent the official position of Canal Solar.
