The first share of the New Year was born early as a signal, 2024 energy storage industry is still firmly in the mouth of the wind.

 

 

 

January 3, Zhejiang Ai Luo network energy technology Co., Ltd (referred to as "Ai Luo energy") successfully listed on the Shanghai Stock Exchange Science and Technology Board, stock code: 688717.

 

 

 

Ai Luo energy IPO issue price of 55.66 yuan / share. On the first day of listing ushered in the red, rose 57.98%, closing price of 87.93 yuan; total market value of about 14.069 billion yuan.

 

 

 

 

 

The company is a photovoltaic energy storage system and product providers, mainly for overseas customers to provide photovoltaic energy storage inverters, energy storage batteries and grid-connected inverters, the products are mainly used in distributed photovoltaic energy storage and grid-connected areas.

 

 

 

The trend of new energy enterprises going overseas has become early. Like many Chinese photovoltaic storage industry, Arrow Energy is mainly engaged in overseas business, and Europe is its largest market. Data show that the proportion of Aero Energy's revenue from Europe will reach 94.5% in 2022.

 

 

 

In the context of soaring overseas energy storage demand, Ai Luo energy performance is also soaring.

 

 

 

The public prospectus shows that in 2022, the operating income of Ai Luo energy was 4.612 billion yuan, an increase of 453.86% year-on-year; the net profit was 1.133 billion yuan, a 17-fold year-on-year turnover; compared with 0.33 billion yuan in 2020, the growth rate is more than 30 times.

 

 

 

In the third quarter of 2023, the company's total revenue was 4.007 billion yuan, up 48.65% year-on-year; net profit was 1.018 billion yuan, up 90.65% year-on-year.

 

 

 

In recent years, multi-country support policies have been introduced, coupled with rising residential electricity prices in Europe, the market demand for household energy storage products is growing rapidly.

 

 

 

From 2020 to the present, Ai Luo energy household energy storage business revenue accounted for the proportion of the main business income continued to increase, respectively, 42.83%, 68.13%, 81.89% and 78.36%.

 

 

 

In 2021, Ai Luo energy household energy storage battery shipments reached 177MWh, market share of about 4.1%, household energy storage inverter shipments of about 22,300 units, according to shipments, the company's household energy storage inverter accounted for about 5.1% of the global market share. As of November last year, Arrow Energy's sales area has covered more than 80 countries and regions such as Germany, the United States, Japan, etc., and also has several branches in Australia, the United Kingdom, the Netherlands, the United States and so on.

 

 

 

It is worth noting that Arrow Energy is one of the few companies in the industry that has the ability to collaborate and integrate the R&D of energy storage inverters and storage batteries, and is capable of mass production. When energy storage performance has become the second growth curve for inverter manufacturers, Aero Energy has indeed seized the new growth point of energy storage inverters.

 

 

 

In 2018, the energy storage battery it developed was successfully introduced to the market, realizing the simultaneous mass production of energy storage inverters and energy storage batteries. Currently, the company has 5 series of energy storage battery products in mass production and on the market, and also has 2 series of PV inverter projects.

 

 

 

 

Aero Energy's IPO journey has taken about two years.2022 In June, Aero Energy's IPO was accepted by the Science and Technology Board, but it has been suspended twice since then, and did not successfully pass the meeting until March last year.

 

 

 

The company's ODM customers include Hanwha Group, Peimar Industries Srl and Tigo Energy Inc, all foreign companies. Aero Energy is also Hanwha Group's only ODM supplier for household energy storage.

 

 

 

Due to the inventory backlog of the channel and the fall in European power prices and other factors, the demand for the European household storage market has declined, which directly affects the total revenue of Ai Luo Energy.2023 In the third quarter of the year, Ai Luo Energy realized operating income of 608 million yuan, a decline of 57.37%, and net profit of 0.043 billion yuan, a decline of 90.91%.

 

 

 

For capital newcomer Ai Luo energy, how to maintain the momentum of the streak is very critical.

 

 

 

After the European market enters a stable stage, Ai Luo energy may be the same as other Chinese enterprises, will be the North American United States, Mexico and other household storage demand for heavy land columns to strategically increase the size.