On April 3, A-share listed company Tongrun Equipment (002150) issued an announcement that it issued A-share shares to specific objects and raised A total of no more than 1.7 billion yuan. After deducting issuance costs, 1.35 billion yuan will be used for 18GW photovoltaic, energy storage inverter expansion projects and 5GWh energy storage system projects; $350 million was used to replenish working capital and repay bank loans.

Tongrun equipment said that the object of this directional issue is not more than 35, of which Chint Electric will subscribe for about 29.99% of the issued shares in cash.

The company also specifically pointed out that photovoltaic inverters are the core components of photovoltaic power generation systems, and "light storage integration" is the future development direction of the industry. With the rapid expansion of the downstream PV and energy storage market, the demand for PV inverters and energy storage products will also increase. However, if the industry development and demand growth is not as expected, it may lead to the potential risk of overcapacity in upstream products.

Data show that Tongrun equipment was founded in 2002, in August 10, 2007 on the Shenzhen Stock Exchange small and medium-sized board, is a metal toolbox cabinet, mechanical and electrical sheet metal and transmission and distribution control equipment as the main business of listed enterprises.

In May 2023, the company completed the asset restructuring, and the controlling shareholder was changed to Chint Electric, which is controlled by Chint Group. At the same time, Chint power has been incorporated into Tongrun equipment, and the former has formed a rich product line that can cover household, distributed and centralized photovoltaic power generation and energy storage products and solutions. Editor/Xu Shengpeng