Ningbo Deye Technology Co.Ltd(605117) 2021 achieved an operating revenue of 416793 million yuan, an increase of 37.85% over the same period of last year. The net profit attributable to the shareholders of the parent company was 578555300 yuan, an increase of 51.28% over the same period last year. The net profit attributable to ordinary shareholders of the company after deducting non recurring profits and losses was 5333908 million yuan, an increase of 53.91% over the same period of the previous year. The annual distribution plan of the company is 10 to 4 shares and 12 yuan (including tax), which has been approved by the board of directors.
Ningbo Deye Technology Co.Ltd(605117) is one of the largest professional finned heat exchanger manufacturers in China and an important supplier of Midea; The sales scale and profit of household photovoltaic inverter of the company have increased rapidly, and has become the second largest business segment and the most important performance growth point of the company. Deye’s own brand dehumidifier has great brand influence. For five consecutive years, it has ranked in the forefront of the industry in tmall’s transaction index and jd.com’s transaction amount index.
In 2021, with the rapid development of energy storage market and the rapid growth of photovoltaic installed capacity, Ningbo Deye Technology Co.Ltd(605117) seize the rapidly growing market demand, actively promote the expansion of inverter business, rely on high-quality products suitable for the market, perfect after-sales service and technical support, continuously explore sales channels and markets, abundant orders throughout the year, and continue to maintain rapid growth, which has become the most important performance growth point of the company. While focusing on the development of new energy industry, the company also continues to consolidate traditional industries, increase the promotion of its own brand, and finally achieve better growth in business scale and economic benefits.
In 2021, the operating revenue of inverter products was 1197532000 yuan, an increase of 262.34% over the same period of last year, accounting for 28.92% of the company’s main operating revenue. Inverter business has become the business segment with the fastest revenue growth, the second revenue contribution rate and the first profit contribution rate of the company in 2021. In 2021, the three categories of inverter products of the company maintained a high growth trend. Among them, the sales revenue of energy storage inverter was 5324557 million yuan, an increase of 265.27% over the same period of the previous year, the sales revenue of series grid connected inverter was 5385157 million yuan, an increase of 265.53% over the same period of the previous year, and the sales revenue of micro grid connected inverter was 1065251 million yuan, an increase of 257.94% over the same period of the previous year.
In 2021, the profitability of inverter products was strong. In the first half of 2021, the company prepared the main electronic components in advance to control the cost. In the second half of 2021, the company invested heavily in R & D, tested and put into production the domestic substitution of electronic components that depend on imports; Promote fine management and effectively control product costs in combination with the natural advantages of deep cultivation of traditional household appliance business for many years; Based on the company’s continuous breakthroughs in the research of inverter control algorithm and topology, improve the product matrix, continuously expand the power section, upgrade the product software and improve the sense of use of customers, so as to improve the market competitive advantage.
In 2021, the company mainly sold 388300 inverters to Brazil, the United States, South Africa and other markets, including 70300 energy storage inverters, 215000 series grid connected inverters and 102900 micro grid connected inverters.
In 2021, the company continued to increase R & D investment. On the basis of R & D upgrading and technical iteration of existing products, through combing the overseas market and responding to the changes of market demand, the company launched 8kw / 10kW / 12KW three-phase low-voltage household energy storage inverter, 15kw low-voltage split phase energy storage inverter, power level with four-way MPPT input and 2000W output, and suitable for high-power 210 components, A series of brand-new models, such as a new generation of micro inverter with reactive power compensation function, the company starts with technical research and development, highlights the advantages of product performance and function, highlights the high cost performance of products, further improves the market competitiveness of products, speeds up the certification of overseas products, and provides support for the development of overseas markets for the company’s products. In 2021, affected by the shortage of global chip supply, the company relied on imports for some of its inverter chips, facing the risk of insufficient chip supply and increased product costs. While strengthening cooperation with major imported chip suppliers, the company increased relevant R & D investment, tested and completed the localization substitution of most chips, effectively reducing the risk of chip supply chain in the future.
According to the data, on June 20, 2021, the National Energy Administration issued the notice on submitting the pilot scheme of roof distributed photovoltaic in the whole county (city, district), which organized and carried out the development of roof distributed photovoltaic in the whole county throughout the country. Driven by this policy, according to the data of China Photovoltaic Industry Association, the newly installed capacity of distributed photovoltaic in China in 2021 was 29.28gw, accounting for 53.4%, accounting for more than 50% for the first time in history. The continuous growth of distributed photovoltaic has further driven the growth of inverter demand in China.
In the future, focusing on the purpose of “green industry, a better future”, the company will comply with the market demand, focus on the main business, improve the product matrix, gradually transform from the traditional household appliance manufacturing industry to the green new energy industry, and maintain the leading position of the core technology of inverter products in the industry. Carry forward the ethical spirit of “progress every day”, based on the new development stage, implement the new development concept, construct a new development pattern, strengthen innovation drive, optimize industrial layout, enhance market competitiveness, adjust asset structure, strengthen lean management, promote informatization and intelligent construction, and unswervingly strengthen, optimize and expand the new energy industry.
