CSRC approves the registration of the IPO of Shouhang New Energy on the Shenzhen Stock Exchange's ChiNext board.

On February 13th, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering (IPO) of Shenzhen First Sailing New Energy Co., Ltd." It is reported that First Sailing New Energy plans to list on the Shenzhen Stock Exchange's ChiNext board, with Guotai Junan Securities as the IPO sponsor, aiming to raise 1.2114 billion yuan. The prospectus shows that First Sailing New Energy is a high-tech enterprise specializing in the research, development, production, sales, and services of new energy power equipment. It focuses on the conversion, storage, and management of CECEP Solar Energy's electricity, with core products including PV grid-connected inverters, PV energy storage inverters, and energy storage batteries. The main raw materials required for the production of First Sailing New Energy are semiconductor devices, electronic materials, mechanical components, magnetic devices, capacitors, batteries, PCB boards, and packaging materials. The main suppliers during the reporting period include Baohui Electronics, Xinchengyuan, Contemporary Amperex Technology, REPT BATTERO, Yihe Xing, Shiping International, Ewe Power, Xinwei Technology, Texas Instruments, Liwang High-Tech, and Yingzhen Technology. After years of development and technological upgrades, the photovoltaic power generation industry has gradually transitioned from subsidy-driven to market-driven. The PV inverter industry has formed a number of leading companies in market share, technological capabilities, and brand awareness, making it a highly competitive and concentrated industry. According to a research report by the internationally renowned power and renewable energy research institution Wood Mackenzie, First Sailing New Energy ranked tenth in the global PV inverter market shipment volume in 2023. According to research data from the global market research institution IHSMarkit, the company ranked ninth in the global residential inverter market shipment volume for 2021.