Author：Violet Chen Sep 20, 2023 10:09 PM (GMT+8)

Chint Anneng Digital Energy (Zhejiang) Co., Ltd. (“Chint Anneng”) is applying for listing on the Shanghai Stock Exchange, with a valuation of approximately CNY 31 billion.

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Chint Anneng was founded in 2015, it is a household photovoltaic company under Chint Group, focusing on household photovoltaic energy operation services. To provide comprehensive services of household photovoltaic energy for a large number of household users, including full solutions for cooperative development, sales, survey and design, installation, and after-sales operation and maintenance of rooftop photovoltaic systems, committed to becoming a leading global leader in C-end comprehensive energy.

According to Chint Anneng, its market area covers 23 provinces such as Shandong, Henan, Hebei, and Zhejiang. In 2022, the installed capacity was 7.5GW in a single year, with a market share of nearly 30%. At present, Chint Anneng has built over 1 million household photovoltaic power stations nationwide, helping the country achieve the two major strategies of "carbon neutrality" and "rural revitalization" as soon as possible.

According to Markets AND Markets, the global photovoltaic market is valued at USD 96.5 billion in 2023 and is projected to reach USD 155.5 billion by 2030, with a CAGR of 10%. This growth is driven by increasing government institutional investment, the growing demand for clean electricity, and government policy support.

The Asia Pacific region is the largest photovoltaic market region, followed closely by Western Europe. Market major players include Jinko Solar (晶科能源), JA solar (晶澳太阳能), LONGi (隆基绿能) and Yingli Solar (英利集团) in China, Sharp Corporation in Japan, Hanwha Q in South Korea, ABB in Switzerland, SMA Solar in Germany, Fimer in Italy, and First Solar and Array Technologies in the United States.

Lu Zhengxin, Co-President of Cloudview Capital, stated: “Our team has invested in the solar energy business sector of Chint, and has invested multiple times in relevant aspects of the Chint industry chain, from battery equipment to silicon wafer production and power station construction. Through in-depth business layout in the industry chain, we have established a highly trusted strategic partnership with Chint Group.”

The final round of financing before the listing of Chint Anneng was led by Cloudview Capital (鋆昊资本), with follow-on investments from IDG Capital, Wing Asset (万银资产), HIIG (杭实集团), Huajin Capital (华金资本), NGDF (国家绿色发展基金), Bank of China (中国银行), Sino Russian Energy (中俄能源基金), Nanwang Jianxin Fund (南网建鑫基金), The Core Group (核聚资本) and Yuexiu Fund(越秀产业基金).