On April 28th, Hoymiles energy released its annual report for 2023. During the reporting period, Hoymiles achieved operating income of 20.26 billion yuan, a year-on-year increase of 31.86%; the non-recurring net profit attributable to shareholders of the listed company was 5.27 billion yuan, a year-on-year increase of 2.23%; research and development investment reached 2.48 billion yuan, a year-on-year increase of 154.36%.
It is worth mentioning that Hoymiles’ dividend plan for the year 2023 proposes to distribute a cash dividend of 36 yuan (including tax) per 10 shares to all shareholders and to issue 4.9 shares for every 10 shares held to all shareholders from capital reserves. Based on this plan, the company intends to distribute a cash dividend of 2.98 billion yuan, accounting for 58.32% of the net profit attributable to shareholders of the listed company in 2023.
In terms of specific business segments, Hoymiles’ core products in the photovoltaic field, micro inverters, and monitoring equipment continued to grow in sales volume. In 2023, Hoymiles’ micro inverters and monitoring equipment achieved sales revenue of 14.14 billion yuan, with approximately 1.3188 million micro inverters and approximately 237,500 monitoring devices sold.
In the field of photovoltaic inverters, Hoymiles launched built-in WiFi micro inverters for the first time in Latin America and Europe in 2023, providing more advanced products and services to local markets through localized solutions; it launched the high-power micro inverter HMT-2000-4T series customized for industrial and commercial scenarios, empowering efficient and safe operation of industrial and commercial photovoltaic power stations; and showcased the FLEX series for the first time globally, effectively reducing installation time and making installations more efficient.
In addition, Hoymiles’ energy storage segment is expected to create a second growth engine for revenue. The company’s revenue from energy storage systems maintained high-speed growth, with the annual report showing that the sales revenue of the company’s energy storage systems reached 3.13 billion yuan in 2023, a year-on-year increase of 354.01%. In the field of energy storage applications, the company’s European battery inverters, North American Hoymiles hybrid inverters, and other energy storage products have been successively launched, making power energy more flexible and stable; it launched the “HPCS series centralized energy storage products” and HIM series boost integrated machine products for the first time, contributing to the construction of more stable grid systems. The continuous enrichment of the product matrix has laid a solid foundation for the company to maintain the stability and growth potential of its business in different market environments.
Based on its rich product matrix, Hoymiles continues to strengthen its global market promotion and provide professional market and marketing support to customers. It is reported that the company participated in more than 30 large-scale international exhibitions in 2023, toured more than 30 countries and regions worldwide, successfully held its first global customer conference, and held more than 30 product roadshow events for key market customers. In the first quarter of this year, at the 2024 Netherlands Solar Solutions Exhibition, the company signed a cooperation agreement with VDHSolar, a top distributor in the Dutch photovoltaic industry. It is reported that VDHSolar is one of the most well-known and largest distributors of solar energy products in the Netherlands.
In terms of regions, Hoymiles’ main overseas sales revenue reached 13.07 billion yuan in 2023, a year-on-year increase of 6.50%. Under the promotion of its globalization strategy, Hoymiles has established sales subsidiaries in countries and regions such as the Netherlands, Australia, and the United States. The product certification of Hoymiles’ micro inverters and monitoring equipment has obtained more than 1,200 certifications worldwide, and its energy storage series products have passed grid connection certifications in more than 20 important countries including Germany, France, the United Kingdom, and Australia.