CHINT Semi-Annual Report of 2023

The 2023 Semi-Annual Report was released on the evening of August 30th, highlighting our commitment to maintaining our core values while driving innovation and pursuing a steady growth path.

With unwavering determination, we are venturing into new horizons in digitalization, intelligence, carbon neutrality, and peak carbon emissions, aspiring to become a globally renowned provider of smart appliances, green energy products, and cutting-edge system solutions.

CHINT Annual Report

Financial results overview:

  1. Operating revenue of 【3.82】 billion dollars, an increase of 【17.91】% year-on-year. Revenue comparison for the past three years: H1 2021 【2.23】 billion dollars, H1 2022【3.23】billion dollars, H1 2023【3.82】 billion dollars.
  2. Net profit attributable to shareholders of the listed company was 【261.41】 million dollars, representing a YoY growth of 【13.70】%. Comparison of the net profit attributable to shareholders of the listed company for the past three years: H1 2021 【253.19】 million dollars, H1 2022【234.11】million dollars, H1 2023【261.41】 million dollars.
Financial Results Overview

Smart electric appliance

1. CHINT China: Unleashing New Possibilities, Cultivating New Driving Forces

With a network of over 500 primary distributors, 5,000+ secondary distributors and a vast array of over 100,000 terminal channels, we have achieved an impressive city-level coverage rate of more than 96% and a county-level coverage rate of at least 88%

7 pillars of marketing digitization, including Distributor Master Data, Marketing Cloud, New Retail Digitization Platform, LTC Payment Digital Platform, MTL Strategy Digitization Platform

In line with our extended “New National Brands” strategy, we are elevating brand prestige and organizing theme events such as “Exploring the Future Factory: Unveiling the Brilliance of Homegrown Products” and the “77 Brand Power Festival.” Through these initiatives, we explore the rich marketing opportunities within nuanced product scenarios, while crafting our image as a leading provider of made-in-China products. (China-chic Products Showcase)

Unleashing New Possibilities, Cultivating New Driving Forces

2. CHINT Global: Fostering Local Presence, Expediting Global Reach

  • Greater Asia-Pacific +3 %, Greater Europe +41%, North America +52 %, West Asia-Africa +20 %, Latin America +14 %;
  • 30+ national companies, 12 overseas logistics Centres, 14 overseas service centers, 5 overseas factories, 1 overseas R&D center, 2,000+ active clients worldwide, channel coverage in 140 countries
Fostering Local Presence, Expediting Global Reach

3. CHINT R&D: Combining Craftmanship and Unwavering Dedication to Pioneer a New Era with Technology

  • 590 domestic patent applications and 398 granted ones, of which 182 invention patents have been applied for and 17 have been granted;
  • 10 PCT patents have been applied for with 28 national entries;
  • 14 foreign patents have been granted. With a cumulative total of over 7,000 patent applications, the Company has been granted over 6,000 patents, out of which more than 5,000 are currently active.
Combining Craftmanship and Unwavering Dedication to Pioneer a New Era with Technology

Green Energy

1. Residentially Distributed Photovoltaic

(1) Expanding Channels to Enable Growth

8 regional enterprises, 27 offices, and 1,400+ agents, covering 22 pivotal provinces, 3 autonomous regions, 4 municipalities directly under the central government and over 1,666 counties; 100,000+ people have been trained by PV Planet, and the combined market share of “CHINT+Guang Fu Xing” remains top 1 in China.

Expanding Channels to Enable Growth

(2) Catalyzing Growth with Innovative Models

Strengthening collaboration in iterative development with state-owned enterprises and business groups owned by the central government, like State Power Investment Corporation, China Huaneng, and China Resources Power, etc.

Actively expanding cooperation in operational leasing businesses with China CITIC Bank, Industrial Bank, and CZBank, etc.

Catalyzing Growth with Innovative Models

(3) Enhancing Digital Operational Capabilities to Ensure Efficiency

Over 1,200 maintenance service centers nationwide, across 21 provinces, 166 cities, over 1,200 districts and counties, with a team of 3,000+ skilled maintenance engineers

Actively promoting cloud deployment for maintenance operations, leveraging big data analytics to build a smart maintenance ecosystem and service cloud, thus enabling real-time transmission of power plant information with zero delays.

(4) Supporting Carbon Neutrality and Peak Carbon Emissions for Shared Prosperity

Increasing the income of every farmer by 130-420 dollars, supplying over 10 billion kilowatt-hours of green electricity, reducing CO2 emissions by over 10 million tons, and creating over 60,000 jobs for rural workers each year

CHINT successfully hosted the 2nd Residential Photovoltaic Innovation Development Forum, established the “One Degree of Electricity” public welfare fund, and released the household industry’s first ESG report, amplifying brand influence and empowering millions of households to achieve carbon neutrality.

2. Power Station Operations

  • Domestic power stations: actively exploring new modes of cooperation with state-owned enterprises and business groups owned by central government
  • Overseas power stations: contracted capacity exceeds 1GW
  • CHINT Germany’s Schoenermark 65.4MW secures a spot in Germany’s subsidized solar projects, boosting returns and setting a stellar example for upcoming installations

3. Inverter Energy Storage

  • Orders in the North American market increased by 26% year-on-year, while European market orders witnessed a remarkable 136% YoY growth. In South Korea, our market dominance remains unchallenged, while in Brazil, a meticulous strategy is being employed to align with local development
  • We’re taking our collaboration with state-owned enterprises and business groups owned by the central government, including PowerChina, SPIC, CHN Energy Changdollars Electric Power Co.,Ltd, China Huadian Corporation Group, and CNNP Rich Energy, to a more profound level
  • We have 25 new R&D projects, successfully concluded research on 9 new products, advanced 8 novel technologies, filed for 15 patents, and obtained approval for 11 patents
Power Station Operations

Important Honors

  • Leading Technology Companies in Zhejiang Province
  • Green Product Certification “Front-runner” in Zhejiang Province
  • Noark was awarded the first “Shanghai Brand” certificate in the industry
  • Collaborated with industry-leading clients, securing 4 provincial and ministerial-level scientific and technological awards
  • Achieved breakthroughs in product technologies related to carbon neutrality and peak carbon emissions, fully engaged in carbon footprint certification, evaluated green factory practices and green product designs
Important Honors​

Chairman's Speech

Despite the complicated market, CHINT joined hands with its partners in the ecological circle to rise to the challenge, pursue opportunities in crisis, and strive to overcome difficulties in the light of their original faith in the first half of the year. 

Driven forward by its mission & vision under digital intelligence as well as carbon peaking and carbon neutrality goals, CHINT was working hard to accelerate the upgrading and efficiency of conventional industries, strengthen the momentum behind the development of emerging industries, promote technological innovation and global layout, achieve growth in both revenue and net profit, and strive to make innovations and gather strength for the future in an effort to promote high-end intelligent and green development and prosperity.

In the changing situation of global energy transition, CHINT will constantly enhance its expertise and capability in R&D and innovation, industrial manufacturing and global localization, well grasp the new development trend of digital economy and green low-carbon industries, and seize emerging opportunities for investment in development of strategic emerging industries worldwide. 

Meanwhile, CHINT will also gather potential strength in the exploratory stage, find opportunities during innovation, hold the existing interests and move forward for a promising prospect in the ever-changing situation, show a further sense of responsibility on the way for sustainability, and never interrupt its efforts on its high quality development and expansion.

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