At the end of February, inverter manufacturer GOODWE (688390.SH) announced that the company's revenue reached 7.352 billion yuan in 2023, up 56.09% year-on-year; it realized a net profit of 868 million yuan, up 34% year-on-year.

 

 

 

GOODWE said that the global PV market continues to show faster growth, but by the market supply and demand, overseas distributors have higher inventories, and industry competition has intensified.

 

 

 

However, Chaodian combined with GOODWE's third quarter 2023 performance report of the figures, the fourth quarter of 2023 revenue of 1.702 billion yuan, net profit also lost about 25 million yuan. Combined with Goodway's public information, it should be that overseas distributors' inventory is too high, which led to Goodway's performance regression in the fourth quarter of last year.

 

 

 

From this point of view, one of the focuses of GOODWE business in 2024 is how to stabilize the overseas market.

 

 

 

Public information shows that GOODWE has been sold in bulk to Germany, Italy, Australia, Czech Republic, the Netherlands, Belgium, Turkey, Mexico, Brazil, Poland, South Africa and other countries and regions around the world.

 

 

 

 

 

 

In the first half of last year, GOODWE energy storage inverter sales amounted to about 119,400 units, accounting for about 28%; overseas inverter sales amounted to about 308,200 units, accounting for about 73%.

 

 

 

It may be based on the above reasons, GOODWE in early February began to start the company's share repurchase program, ready to spend a minimum of 5 million yuan, at a price of not more than 182.81 yuan to buy back shares.

 

 

 

And GOODWE's stock price has gradually recovered to $112 from a low of $90 in early February.