Recently, He Wang Electric released the first three quarters of 2023 performance report, the first three quarters to achieve operating income of 2.615 billion yuan, an increase of 49.04%; Net profit attributable to shareholders of listed companies was approximately RMB 401 million, an increase of 135.92%; Withholding non-net profit of 319 million yuan, an increase of 133.58%.

Among them, the third quarter of 2023 achieved operating income of 1.074 billion yuan, an increase of 15.3% quarter-on-quarter and 64.3% year-on-year. Net profit returned to the mother was 199 million yuan, an increase of 60% quarter-on-quarter and 246.8% year-on-year. Net profit withheld from non-return to mother was 149 million yuan, an increase of 28.4% quarter-on-quarter and 238.4% year-on-year.

Entering the third quarter, the new energy business volume of Hewang Electric increased rapidly, and the profitability of wind power converters, photovoltaic inverters and energy storage converters achieved a significant growth in the quarter under the continuous promotion of innovative design of components. Generally speaking, the fourth quarter is the peak season of scenery storage and delivery, so the operating income and net profit of the fourth quarter of Hewang Electric will continue the growth trend of the first three quarters, and the annual performance is expected to rise sharply.

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Hewang Electric focuses on the research and development, production, sales and service of new energy and electric transmission products, the main products include wind power generation products, photovoltaic power generation products, energy storage products, power quality, electric transmission products, etc., with a complete high-power power electronic devices and monitoring systems independent development and research and development strength and test platform. Through innovation in technology and services, the company continues to create value for customers, and has become one of the most competitive electrical enterprises in the field of new energy in China.

In terms of electrical transmission, on the basis of strong customized engineering wind power converter platform, Hewang Electric has independently developed HD2000 series low-voltage engineering frequency converter, HD8000 series medium-voltage multilevel frequency converter and HV500 series high-performance frequency converter. In addition, Hewang Electric also has HV350 series general frequency converter. HEC series inverter for oil field, Hewang Electric’s industrial transmission products cover various power segments and a variety of control methods, suitable for metallurgical rolling, petroleum and petrochemical, mining machinery, port lifting, distributed energy generation, large-scale test platform, Marine equipment, textile, chemical, cement, municipal, rail transit and other high-end industrial applications.

In the field of new energy, Hewang’s product series covers domestic 750kW~30MW wind power converters, 5kW~3.125MW photovoltaic inverters and 1.0MW~6.25MW box inverters and other mainstream models. In the field of energy storage, we provide 50kW~3.45MW energy storage converters, EMS, off-grid controllers and other equipment, which are widely used in power generation side, power grid side, user side, micro-grid and so on. In the field of power quality, SVG products that provide 30kvar~140Mvar have been widely used in many fields and industries such as regional power grid, wind power, photovoltaic, petrochemical, coal, steel, oil field and rail transit. In the field of electrical transmission, we provide 0.75kW~22400kW low voltage frequency conversion, 8MVA~136MVA medium voltage frequency conversion transmission solutions, which can be widely used in metallurgy, petroleum and petrochemical, mining machinery, port lifting, distributed energy generation, large-scale test platform, Marine equipment, textile, chemical, cement, municipal and other industrial applications.