Established in April 2007 in Shenzhen, China, Hopewind’s first business order was to provide core modules for wind power converters. In 2009, Hopewind broke the bottleneck of voltage failure caused by train crossing for the first time in the world, demonstrating its strong technical strength. And in the following year, the company signed orders for hundreds of 1.5MW wind power converters. Since then, its wind power business started to take off.
As a historical milestone for the company in 2017, Hopewind was listed on the main board of the Shanghai Stock Exchange. In 2020, the company’s offshore wind power converter started to come into global market’s sight.
Conquering the distributed photovoltaic market with excellent stability
Hopewind firstly set foot in solar business by engaging in projects of large-scale photovoltaic power stations. As early as 2013, Hopewind pioneered the distributed photovoltaic inverter solution in China, and in the following year, it realized the batch shipment of the first distributed photovoltaic inverters.
From 2020 to 2022, due to the impact of the COVID-19 epidemic, the supply of IGBT modules for photovoltaic inverters were tight globally. When the industry experienced serious supply shortages and product stability was affected, Hopewind launched the ground-breaking IGBT single-tube parallel connection solution, thus achieving continued robust performance, and have been then recognized as the Top 10 PV inverter brand in China.
Energizing power electronics industry
Hopewind has a core technical team with an average of more than 20 years of experience in the power electronics industry. In 2023, the company had nearly 800 R&D engineers and operated four major R&D and manufacturing bases in Shenzhen, Suzhou, Xi'an, and Heyuan. While achieving great success in the fields of wind power and photovoltaics, Hopewind has also continued to make breakthroughs in the power electronics industry.
In the field of energy storage, Hopewind offers energy storage converters (PCS), energy management systems (EMS), outdoor all-in-one complete energy storage systems, and more. In 2022, Hopewind achieved breakthroughs in multiple hundred-megawatt energy storage projects, and its energy storage PCS product shipments ranked eighth in the domestic market. In the high-power PCS field of 30kW and above, Hopewind ranked ninth among Chinese inverter companies in the global market.
In 2023, Hopewind marched into the field of hydrogen production, focusing on developing and producing high-power DC power supply products suitable for water electrolysis and hydrogen production electrolyzers. Their HHP series water electrolysis hydrogen production power supply products utilize a fully controlled IGBT topology solution and feature a modular redundant design with significant “three highs and one low” characteristics (high efficiency, high reliability, high power factor, and low harmonics). This marks another huge breakthrough for Hopewind in green hydrogen power following its success in renewable energy power generation and industrial drive sectors.
According to Hopewind, the company shipped batches of its SVG (static var generator) products in 2020, and its drive technology has been recognized as internationally leading level. In 2022, the company secured several unprecedented orders by leveraging its strengths in medium-voltage drives and low-voltage engineering drives. Throughout the year, the industrial drive business revenue reached 371 million yuan, representing an 84.98% year-on-year increase, with a gross profit margin as high as 44.59%.
Robust overall business performance
Hopewind has positioned itself as a ‘leading brand in wind, solar, hydrogen power, and energy storage’. Its recent business growth strongly supports this vision, demonstrating its capabilities. In Q1-Q3 2023, Hopewind achieved a revenue of 2.615 billion yuan, a remarkable YoY increase of 49.04%. The net profit attributable to the parent company reached approximately 401 million yuan, marking a substantial YoY growth of 135.92%. After deducting non-profit items, the net profit amounted to around 319 million yuan, showing a remarkable YoY increase of 133.58%. Revenue from the New Energy Electronic Control business grew by 51.61% YoY, while the industrial driver business experienced an impressive 103.89% YoY growth. The company anticipates a bright future for its business expansion.
