Recently, IHS Markit (now part of S&P Global), a global authoritative research organization, announced the global PV inverter company shipment ranking list for 2023. Chint Power's share of shipments in the Korean inverter market is 29.5%, again occupying the TOP 1 in the Korean inverter market.

S&P Global is a leading global information provider offering specialized information consulting, analysis, and expert opinion across key industries. According to this research report, the global inverter market demonstrated strong growth momentum in 2023, with shipments jumping to 527 GW, realizing a whopping 57% year-on-year growth. This remarkable expansion was mainly attributed to the booming market in China and the extensive pre-installation demand for inverters. Notably, inverter supply significantly exceeded market demand in the year, reaching a surplus of 117 GW. Inverter shipments are expected to decline by 3% in 2024, due to a slowdown in global installation growth.

Among many photovoltaic companies, Chint Power has maintained its leading position in the Korean inverter market with its excellent performance, leading professional technical strength, and perfect after-sales service system, and has won wide recognition and trust from the market. So far, Chint Power's inverters have been ranked No. 1 in the Korean inverter market for three consecutive years, and its market share has increased year by year.

In recent years, the PV market has become increasingly competitive. However, as an industry leader, Chint Power firmly believes that only continuous technological innovation, excellent product performance, and a comprehensive service system can lead companies through the cycle and toward a new round of market prosperity. In the face of challenges, Chint Power has accelerated its strategic transformation and significantly increased its investment in the energy storage business. Chint Power has accelerated the upgrading and iteration of its energy storage products and launched new products, demonstrating its strong R&D capabilities and market sensitivity.

At the same time, the construction of Chint Power's new PV storage intelligent manufacturing base has begun, which signifies that Chint Power's PV storage capacity will usher in a qualitative leap in the future, and provide the market with more professional and efficient products and system solutions. Chint Power is taking practical actions to prove our determination and ability to lead the trend in the change, and at the same time fully prepare for the next leap in the market.