On the evening of April 29, 2025, CHINT Electrics released its Q1 2025 report and 2024 annual report.
Staying true to our mission while driving innovation, we advanced steadily and boldly explored new frontiers in digitalization and low-carbon transformation, moving firmly toward our vision of becoming a globally recognized provider of smart electrical products and green energy solutions.
According to the 2024 annual report, CHINT recorded a revenue of USD 8.94 billion, representing a year-on-year growth of 12.70%.
Net profit attributable to shareholders of the listed company reached USD 536 million, marking a year-on-year increase of 5.10%.
In the first quarter of 2025, net profit attributable to shareholders of the listed company reached USD 160 million, reflecting a year-on-year growth of 7.65%.
Smart Electrical
Strengthening the Foundation of Domestic Operations
In 2024, CHINT capitalized on emerging industry opportunities and made breakthroughs in key projects, driving deep growth in the “Four New and Four High” sectors. Domestic operations continued to lead the market, securing a stable foundation for development. Market share achieved breakthrough growth, further reinforcing the company’s position as a stabilizing force, and delivering simultaneous growth in both scale and profitability.
(1) Channel business, providing a stable foundation for growth
CHINT actively implemented its integrated “Region-Industry-Product” marketing platform, steadily advanced the 5321 channel ecosystem restructuring, tapped into high-potential regional markets, built an efficient and cost-effective logistics network, and strengthened regional market management.
(2) Industry business, focused on synergy and innovation-driven expansion
Overseas Business: Deepening Global Roots
(1) Regional Markets: Driving Breakthroughs
In core European markets, CHINT maintained steady growth in low-voltage component channel business, drove rapid development in Southern European countries such as Italy, Spain, and Turkey, and established new growth trajectories in Germany and France.
In the growing Asia-Pacific market, CHINT, centered in Singapore, achieved rapid business expansion across the ASEAN economic circle, including Malaysia, Indonesia, Vietnam, and the Philippines.
In emerging markets across West Asia and Africa, the company captured growth momentum in the Gulf countries and advanced a dual-headquarters strategy in Saudi Arabia and Dubai.
(2) Localization Strategy to Build Supply Chain Resilience
CHINT has been accelerating the expansion of regional manufacturing capacity and the integration of supply chain resources. Localized manufacturing bases in Saudi Arabia, Kenya, Brazil, and Mexico have been successfully commissioned, significantly enhancing localized production and delivery capabilities. Meanwhile, the warehousing and logistics network has been continuously optimized and upgraded, with 20 cross-regional service and storage centers established to strengthen global responsiveness.
Technological Innovation: Advancing Product Development
Focusing on new application scenarios, CHINT developed a range of innovative and competitive products for industries such as power generation and new energy, power grids, basic energy and process industries, as well as information and communications. Efforts were intensified in the research and application of new technologies, materials, and processes, achieving breakthroughs in key technologies such as amorphous and nanocrystalline current transformers and graphene.
R&D investment accounted for 4–12% of sales revenue across product lines, with a new product launch rate exceeding 90%.
Industry-Academia-Research Collaboration: Driving Technological Upgrades
CHINT invested USD 176 million in R&D in 2024, representing a year-on-year increase of 7.47%. During the year, the company obtained 311 patents and software copyrights, participated in the formulation and revision of 31 national and industry standards, and launched 2 products that reached the international leading level and 27 that met international advanced standards.
CHINT continues to advance its "Industry-Academia-Research-Government-Application" collaboration platform, maintaining ongoing technical partnerships with leading universities such as Tsinghua University, Xi'an Jiaotong University, and Zhejiang University, as well as key industry research institutions. The Low-Voltage Testing Center has successively received certifications and accreditations from prestigious authorities including China CNAS, the United States UL WTDP, Canada CSA WMTC, and Europe VDE.
Aligning with Global Standards: Practicing Sustainable Development
CHINT integrates the concept of sustainable development into its core corporate governance and has established an ESG strategic development framework. Under the framework of the United Nations Global Compact, CHINT actively participates in global energy summits and industry forums, reaching cooperation agreements with multiple multinational companies and jointly launching over 10 sustainable development projects. The company also organizes Sustainability Action Days to promote low-carbon concepts and has earned recognition from leading international ESG rating agencies.
Green Energy
Residential Solar – High-Quality Development
(1) Channel Depth – Building a Stronger Market Moat
CHINT Aneng actively supports China’s peak carbon emissions and carbon neutrality goals and rural revitalization strategy. Through a “Dynamic Tiering + Regional Deep Cultivation” approach, it enhances integrated service capacity and extends its residential solar channel network with greater precision and depth.
(2) Business Model Innovation – Reshaping the Industry Ecosystem
CHINT continues to increase R&D investment and drive innovation in application scenario solutions. It has pioneered a model of whole-village development and centralized convergence, enabling a leap from fragmented to intensive management in residential solar projects. CHINT also launched its first smart microgrid project to build an intelligent distributed energy ecosystem and introduced integrated "solar + building" projects in urban areas, exploring new models of "solar + storage" for household green energy.
(3) Carbon Asset Operation – Unlocking New Value Frontiers
CHINT has led household photovoltaic green electricity trading in Guangdong, Zhejiang, and Jiangsu, with a monthly trading volume exceeding 10 million kWh, becoming one of the largest players in the sector. CHINT Aneng is also one of the first to issue household green certificates and establish a registry for '10,000-household' power stations.
(4) Digital Empowerment – Driving an Efficiency Revolution
CHINT is driving smart upgrades by deeply integrating digital technology into the development, construction, and operation of household photovoltaic power stations, leading the industry’s digital transformation. Using AI, the 'TAI ZHIHUI' system quickly generates maps through machine learning algorithms across different station scenarios, boosting overall efficiency by over six times.
Continuous Optimization of Power Plant Business Structure
Ranked 3rd in the 2024 Top 20 EPC Contractors for PV Power Plants in China
Ranked 8th in the 2024 Top 20 PV Power Plant Investors in China
CHINT also received prestigious awards, including the "Global Top 500 New Energy Enterprises" and the "Green Energy Storage Integration Golden Engineering Award."
Domestic Highlights
Delivered Zhejiang’s first tidal flat energy storage project – the Yueqing Bay Shared Energy Storage Power Station.
The 200MW photovoltaic project of China National Nuclear Power's Sanmen Jiantiao East Phase I has been successfully connected to the grid, marking a new breakthrough for the company in its 'nuclear, solar, and energy storage integration' demonstration projects.
Global Progress
Provided EPC services for a 170MW photovoltaic project in New Zealand for Lightsource BP, a global leader in international power plant development, driving the construction of the country’s largest photovoltaic project to date.
Signed a cooperation agreement with NamPower, for the 100MW photovoltaic power plant EPC project in the Rosh Pinah region.
Inverters & Energy Storage – Bright Prospects Ahead
(1) Focus on key markets and expand diverse applications
- Maintained No.1 in the North American C&I inverter and energy storage market for consecutive years
- Continued to hold the No.1 market share in South Korea
- In Europe, subsidiaries and service centers were established in Poland and the Netherlands, with breakthroughs in solar-plus-storage projects in Poland, Turkey, Spain, and Portugal
- In Japan, the commercial and industrial energy storage sector showed strong growth, with active expansion into large-scale high-voltage and ground-mounted energy storage systems
(2) Product Innovation and Long-Term Partnerships
CHINT has established stable partnerships with CNNC Huineng, CNNC Nanjing, Shanghai Electric, PetroChina, SPIC, and the China Three Gorges Corporation.
Key Honors & Recognitions
CHINT Electric awarded ISO 56005 Level 4 Certification
CHINT New Energy ranked among the "Top 500 Global New Energy Enterprises"
CHINT Electric recognized as a National Standard Innovative Enterprise
CHINT Power listed in Bloomberg NEF’s Quarterly Global PV Inverter Manufacturer Ranking (Tier 1)
Chairman's Message
In 2024, despite global industrial restructuring and rising trade barriers, CHINT achieved steady growth in both revenue and net profit. With strong customer trust, close cooperation across the value chain, and the dedication of our teams, we strengthened our core competitiveness in Smart Electrical and Green Energy, accelerated global localization, enhanced operational capabilities, and embedded sustainability into corporate governance - building resilience and driving transformation amid uncertainty.
Looking ahead, as technologies like AI, big data, and robotics reshape global supply chains, CHINT will continue to promote open innovation, green transformation, and industrial upgrading. We are committed to delivering safe, green, cost-effective, and user-friendly smart energy solutions, supporting high-quality and sustainable development worldwide.
