Brief Introduction

Jiangsu GoodWe Power Supply Technology Co., Ltd. ("GoodWe", Stock code: 688390) is a leading, strategically-thinking high technology company based in Suzhu New District, China, which focuses on independent research and development, manufacturing, sales and service of PV inverters and energy storage solutions. Since GoodWe was founded in 2010, guided by the core value of reducing electricity costs and improving electricity efficiency, GoodWe is always focusing on PV grid-connected inverters, PV energy storage inverters, smart data collectors and Smart Energy Management System (SEMS) on the basis of new energy power conversion, energy storage conversion, and energy management, to achieve multi-energy complementation and energy value creation.

Company Overview

Full name Jiangsu GoodWe Power Supply Technology Co.,Ltd
Abbreviations GOODWE
Code 688390
Founded 2010-11-05
Listing 2020-09-04
Domicile Jiangsu Suzhou
STAR Theme High-end Equipment and New Energy
CSRCSector C38 Manufacturing
Has weighted voting rights structure? No



  2020 2019 2018
Earnings Per Share 3.64 1.56 0.85
R&D expenditure as a % of operating revenue 5.79% 6.15% 6.15%
Operating Revenue 1589.08 945.35 835.45
Net Income 258.81 103.13 55.68

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 1589.08 945.35 835.45
Operating Costs 991.54 562.45 563.02
Operating Income 597.54 382.90 272.43
Pretax Income 302.55 121.61 60.52
Income Tax 43.75 18.48 4.84
Net Income 258.80 103.13 55.68

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 2,187.42 726.95 634.56
Non-current Assets-Total 372.24 287.02 193.30
Total Assets 2,559.66 1,013.97 827.86
Current Liabilities-Total 1,075.91 569.43 460.76
Non-current Liabilities-Total 27.10 24.29 45.66
Total Liabilities 1,103.01 593.72 506.42
Stockholder's Equity
Share Capital 1,034.87 259.03 237.97
Retained Profits 421.81 159.76 83.83
Total Owners' Equity 1,456.65 420.24 321.44

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 439.76 151.28 68.18
Net Cash Flows-Investing -728.90 -74.28 -125.01
Net Cash Flows-Financing 731.81 -59.99 66.93

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Huangmin 27.25 30.97%
Lu Hongping 7.91 8.99%
Ni Zugen 5.31 6.04%
Zheng jiaxuan 4.25 4.83%
Suzhou Gaoxin Fude Investment Limited Partnership 3.25 3.69%
Suzhou Hezhong Jude Investment Limited Partnership 3.08 3.50%
Fang gang 2.64 3.00%
Chen bin 2.10 2.39%
Lu Jinjun 1.98 2.25%
SuzhouGuanxin Investment Limited Partnership 1.68 1.91%
As of 2021-04-28

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