Chinese microinverter manufacturer Hoymiles has made its debut on the Shanghai Stock Exchange. The Hangzhou-based company publicly issued 10 million shares at approximately $87 each – about $875 million in total.
According to the company, the value is ten times greater than expected revenue and shows the trust placed in Hoymiles by investors and the entire photovoltaic industry.
“These days, industry prospects for the new energy sector remain promising, especially in the context of the global push for green transition technology and carbon abatement amid the ongoing climate crisis,” said Bo Yang, co-founder and CEO of Hoymiles.
Yang emphasizes that the company's entry into the Stock Exchange was a significant milestone. “Hoymiles continues to uphold the mission of 'making energy smarter' and leverage our research and development capabilities to provide our customers with best-in-class photovoltaic products and services, while remaining committed to technological innovation.”
According to the manufacturer, the resources obtained in the stock market will be used to build the company's smart manufacturing base, industrialize energy storage inverter projects, improve equipment and products and expand the business scale.
“Believing in the Brazilian market, Hoymiles has been investing heavily and, through Genyx, offers exclusive and dedicated products in our country”, highlights André Hipólito, product director at Genyx, which is the third largest worldwide distributor of Hoymiles.
“This is an important movement by the factory and one that brings benefits to the solar sector, mainly for Brazil, by obtaining greater investment power and the entire production front to supply the market here and worldwide”, analyzes Hipólito.
