On 3 January 2023, SolaX Power Network Technology (Zhejiang) Co., Ltd.(SolaX), a leading global solar solutions provider mainly engaged in energy storage systems and inverters, has been listed on the STAR of the Shanghai Stock Exchange under the stock code 688717. SolaX's offer price is 55.66 yuan per share, with a price-to-earnings ratio of 7.95 times.

SolaX plans to raise funds through the IPO to expand its energy storage battery and inverter production capacity, build a solar energy and energy storage technology R&D centre, strengthen its overseas marketing and service management, and provide working capital, with a total of 808,722,500 yuan after deducting the issue costs.

Founded in 2012, SolaX Power is dedicated to realising a clean and sustainable future through solar energy. It is a leading global provider of solar and storage solutions and one of Asia's pioneering hybrid inverter manufacturers. SolaX's revenue and net profit showed a continuous growth trend from 2020 to the first half of 2023. It achieved operating revenue of 389,100,600 yuan, 832,666,400 yuan, 4,611,795,500 yuan and 3,399,058,500 yuan in the respective periods, while net profit was 33,064,300 yuan, 62,874,500 yuan, 1,134,010,800 yuan and 975,322,500 yuan, respectively.