abstract：production line and categories

（1） Main business, main products or services

The company is mainly engaged in the R & D, manufacturing and sales of photovoltaic inverter and other power conversion equipment, complete electrical equipment and related products. Photovoltaic inverter and related products mainly include micro inverter and monitoring equipment, modular inverter and other power conversion equipment, distributed photovoltaic power generation system, and complete electrical equipment and related products mainly include high-voltage switchgear, low-voltage switchgear, distribution cabinet, etc.

1. Photovoltaic inverter and related products

Photovoltaic power generation is one of the core directions of the development of contemporary new energy industry. Photovoltaic power generation system is mainly composed of photovoltaic modules, photovoltaic inverters and other power distribution equipment. Among them, the main function of photovoltaic inverter is to realize the form conversion of electric energy. It is mainly used to convert the DC generated by photovoltaic modules into AC transmitted by power grid and used by users. It is one of the core elements of photovoltaic system. According to the specific application scenarios of photovoltaic power generation systems, photovoltaic power generation systems can generally be divided into centralized and distributed. The company's photovoltaic inverter products are involved in the above two scenarios. Among them, micro inverter, monitoring equipment and distributed photovoltaic power generation system are mainly used in distributed power generation scenarios, while modular inverter and other power conversion equipment are mainly used in centralized power generation scenarios.

(1) Micro inverter and monitoring equipment

Micro inverter and monitoring equipment are the core products of the company, which are composed of micro inverter, data collector and other accessories. Among them, the core product micro inverter can be divided into one to one inverter, one to two inverter, one to four inverter and one to six inverter according to the number of photovoltaic modules connected. The output power of each inverter increases in turn to meet different application requirements.

In order to make the operation and maintenance of photovoltaic power generation system more simple and efficient, the company has developed a monitoring system on the basis of inverter products. As an optional value-added service for customers, customers can easily realize component level monitoring through the monitoring system; The operation and maintenance personnel can also accurately locate the fault point through DTU communication records to efficiently complete after-sales operation and maintenance.

(2) Modular inverter and other power conversion equipment

Modular inverter and other power conversion equipment are products independently developed and manufactured by the company based on the concept of micro inverter. The use scenario of modular inverter is the power conversion of 100 kW to megawatt photovoltaic power station. It refers to the design idea of "distributed power conversion" of micro inverter. The input side can be connected with a photovoltaic array formed by several photovoltaic modules in series and parallel. The main body of the inverter is composed of multiple inverter modules, and the combination form of "multiple series to multiple inverter modules" is formed on both sides. The main advantage of modular inverter is that when individual inverter modules fail, other inverter modules can share the inverter function of the array corresponding to the failed module. Therefore, it is superior to the general centralized and series inverter in reliability, flexibility and easier maintenance.

(3) Distributed photovoltaic power generation system

Distributed photovoltaic power generation system is an integrated product with the company's Micro inverter and monitoring equipment as the core components. Distributed photovoltaic power generation system is a system that assembles the company's Micro inverter and monitoring equipment products with purchased photovoltaic components, brackets and other photovoltaic parts. It can be directly installed on the roof of end users and is widely used in residential roof and industrial and commercial roof farms.

2. Complete electrical equipment and components

(1) High voltage switchgear products

The rated voltage of high-voltage switchgear products ranges from thousands to tens of kilovolts. It is mainly used to receive and distribute network electric energy and control, monitor, protect and measure the circuit. It can be used not only in the distribution system of ring network power supply, but also as the terminal power supply of radial power grid. High voltage switchgear is suitable for indoor power supply systems in power plants, substations, airports, docks and high-rise buildings. It has the characteristics of flexible configuration, long service life, high segmentation capacity, frequent maintenance free operation, safe and reliable operation, etc. The rated current of the company's high-voltage switchgear products can reach 4000A and the sectional capacity can reach 50kA.

(2) Low voltage switchgear of the company

The rated voltage of the company's low-voltage switchgear products is 380 (400) V, which is mainly used for power conversion, distribution and control of power, lighting and distribution equipment in the power system. The company's low-voltage switchgear products have the characteristics of high breaking capacity (rated short-time withstand current up to 100kA), good thermal stability, flexible line scheme, convenient combination, strong practicability, novel structure and high protection level. They are suitable for places with high automation and computer docking requirements, such as power plants, petroleum, chemical industry, metallurgy, textile and so on. All the low-voltage switchgear products of the company have obtained the national compulsory certification of 3C products, among which the rated current of conventional products such as GGD, GCK, GCS and MNS reaches 6300A, which can meet the requirements of different users.

(3) Distribution box products

The rated voltage of the company's distribution box products is 220V, which is composed of low-voltage switches, contactors, relays and other auxiliary devices. It is mainly used for power distribution and lighting distribution of three-phase power system. It is the end of distribution system.

（2） Main business model

The company has a complete set of R & D, procurement, production and sales modes and processes, so as to realize the effective control of all links of products from R & D, procurement to sales.

1. R & D mode

In addition, the company focuses on the research and development of complete sets of electronic products in the form of algorithms and the latest technologies in the electrical industry. In addition, the company focuses on the implementation of its own algorithms and other products, and gradually improves the performance of its own electronic products, Improve the ability of independent innovation.

2. Procurement mode

The main raw materials of the company basically adopt the procurement mode of "purchase by sales". The company formulates production and preparation plans and implements procurement according to the annual sales plan, and then dynamically adjusts the procurement and production plans according to the monthly sales plan. In the process of business development, the company has established a relatively mature internal communication and external docking mechanism. On the premise of fully analyzing its own orders and potential orders, the company adopts a differentiated preparation schedule for raw materials with different preparation cycles, reasonably optimizes inventory and reduces procurement costs, so as to ensure that the company's raw materials can continue to meet production needs.

3. Production mode

The company's photovoltaic inverter and related products and complete sets of electrical equipment basically adopt the production mode of "production based on sales". In terms of photovoltaic inverter and related products, the manufacturing center shall formulate the annual production plan every year according to the annual sales plan provided by the marketing center, and then dynamically adjust the monthly production plan of the next month according to the monthly updated and detailed monthly sales plan of the marketing center, and implement the procurement and production to meet the sales plan in combination with the inventory and production capacity. In terms of complete sets of electrical equipment, they are mainly customized products. The specifications, technical parameters and other indicators are determined according to the actual needs of users. The marketing center is responsible for docking the specific product specifications, technical parameters and other indicators with customers. The production department carries out assembly, program burning, detection and adjustment of specific coefficients of raw materials and semi-finished products according to the requirements of customers, and forms the final product.

4. Sales model

The sales path of photovoltaic inverter and related products is basically realized by selling to end customers through "integrator installer" or "EPC". The sales mode of the company's photovoltaic inverter and related products business is divided into: equipment single product sales mode and system integration sales mode; The company's complete electrical equipment is mainly used in industrial manufacturing, public facilities, real estate and other fields. According to the specific situation of product sales in the industry, the company's sales mode is mainly direct sales. The company's product sales include domestic sales and overseas sales. The company adopts the sales mode of combining direct sales and distribution. Through years of market development, the company has established an increasingly perfect domestic and overseas marketing system and established good cooperative relations with many well-known customers at home and abroad.

（3） Industry situation

1. Development stage, basic characteristics and main technical threshold of the industry

(1) Development stage

With the development of economy and society, the global energy demand continues to grow, and the energy resources and environmental problems are becoming increasingly prominent. Accelerating the development and utilization of renewable energy has become the only way to deal with the increasingly severe energy and environmental problems. Therefore, in recent years, the scale of global solar energy development and utilization has expanded rapidly, the technology has made continuous progress, and the cost has been significantly reduced, showing a good development prospect. Developed countries such as the European Union and the United States regard solar power generation as an important source of renewable energy.

With the gradual weakening of the global impact of the epidemic, the photovoltaic industry has entered a period of stable development. With the progress of photovoltaic technology, the installed cost continues to decline, the cost performance of photovoltaic power generation is improved, and the full realization of affordable Internet access in the global market, the photovoltaic industry continues to maintain stable growth. According to the statistics of China photovoltaic Association, it is estimated that the global average annual new photovoltaic installed capacity will be about 210-260gw from 2021 to 2025. By 2030, the global annual new photovoltaic installed capacity is conservatively estimated to exceed 300gw.

China's photovoltaic market is one of the main components of the global photovoltaic market. China's photovoltaic products have reached the world leading level in terms of manufacturing scale, industrial level and market application, and have maintained a relatively high-speed growth in recent ten years. According to the statistics of China photovoltaic Association, the domestic photovoltaic installed capacity in 2019 is 30.1gw and 48.2wg in 2020. It is expected that the annual average new photovoltaic installed capacity in China will reach 83-99 GW from 2022 to 2025. According to the construction and operation of photovoltaic power generation in 2021 released by the National Energy Administration: in 2021, China's photovoltaic power generation added 54.88gw of grid connected capacity, including 25.6gw of centralized photovoltaic power stations and 29.28gw of distributed photovoltaic power stations, accounting for 53.35%. China's photovoltaic industry has grown rapidly.

In recent years, China has continuously increased the construction of distributed photovoltaic. In September 2021, the National Energy Administration announced the pilot list of the whole county, and a total of 676 counties entered the list. In November of the same year, the State Administration of organ affairs, the national development and Reform Commission and other four ministries and commissions issued the implementation plan for deepening the green and low-carbon leading action of public institutions to promote carbon peak, proposing that by 2025, the installable photovoltaic roof area of new buildings of public institutions will strive to achieve 50% photovoltaic coverage, promote the innovation and development of distributed photovoltaic, and the proportion of distributed photovoltaic in China is expected to accelerate.

Photovoltaic inverter is the core equipment of photovoltaic power generation system. The DC generated by photovoltaic modules can be transformed into AC through inverter and used for household appliances or grid connected power generation. Since 2010, the global shipments of photovoltaic inverters have been growing at a high speed. Thanks to the complete domestic industrial chain, sufficient policy support, relatively cheap and high-quality labor force, sufficient competition and other factors, the cost performance advantage of domestic inverter has gradually become prominent, the export of domestic inverter enterprises has continued to grow, and domestic photovoltaic manufacturers have grown rapidly in the global market. With the development of distributed photovoltaic power generation system, micro inverter has developed rapidly with the advantages of high system security, high power generation efficiency, high reliability and high flexibility, and its application proportion in the global distributed photovoltaic power generation system is increasing.

(2) Basic features

Green environmental protection, help carbon peak and carbon neutralization

The Paris Agreement is an international legal text for the global response to climate change after 2020. The long-term goal is to control the increase of global average temperature at a level significantly lower than that before industrialization, and strive to control the temperature rise within 1.5 degrees Celsius compared with that before industrialization. The world will peak greenhouse gas emissions as soon as possible and strive to achieve zero net greenhouse gas emissions by 2050. After the signing of the Paris Agreement, there has been a global upsurge of carbon neutralization.

In October 2021, the CPC Central Committee and the State Council issued the opinions on completely, accurately and comprehensively implementing the new development concept and doing a good job in carbon peak and carbon neutralization, which proposed to implement the action of renewable energy substitution, vigorously develop wind energy, solar energy, biomass energy, marine energy and geothermal energy, and continuously increase the proportion of non fossil energy consumption. Adhere to both centralized and distributed development, and give priority to the local and nearby development and utilization of wind energy and solar energy. In October of the same year, the State Council issued the action plan for carbon peaking before 2030, which further defined the principles, objectives and key tasks of carbon peaking and carbon neutralization.

The industry has broad prospects

According to the prediction of the International Energy Agency (IEA), the cumulative installed capacity of global photovoltaic is expected to reach 1721gw by 2030 and further increase to 4670gw by 2050, with great development potential. With the continuous evolution of the photovoltaic industry in terms of market and technology, the advent and popularization of the photovoltaic affordable Internet era, the business logic of the industrial chain is changing, and distributed photovoltaic is gradually becoming an important growth point of the subsequent photovoltaic market, making the photovoltaic industry usher in further rapid growth.

Due to the risk of DC high voltage in distributed photovoltaic power generation system, the United States, Europe, Australia and other countries and regions have issued corresponding mandatory measures to require the photovoltaic power generation system to realize "component level control". At the same time, China's attention to the safety of distributed photovoltaic power generation has also increased significantly. In November 2021, the National Energy Administration issued the notice on strengthening the safety of distributed photovoltaic power generation (Exposure Draft), Therefore, micro inverter meets better development opportunities and broader market prospects.

(3) Main technical threshold

Photovoltaic inverter is the core equipment of photovoltaic power generation system. The DC generated by photovoltaic modules can be transformed into AC through inverter and used for household appliances or grid connected power generation.

The advanced technology of the company's products is mainly embodied in the structural topology, control algorithm and topology and algorithm integration of system level and converter stage. At present, the company has micro inverse topology technology, soft switching technology, power module active parallel technology, etc. in the micro inverter product line, voltage sharing auxiliary power technology, flexible control technology, active sleep and rotation control technology, etc. in the modular inverter product line, the company has intelligent control technology, wireless temperature measurement technology, energy consumption management technology, etc. Through the above core technology, the company's products have advanced in terms of power density, power range, conversion efficiency, reliability of modular inverter, flexibility and maintenance, and the intellectualization of electrical equipment.

2. Analysis of the company's industry position and its changes

At present, the company has become one of the manufacturers with certain technical and market advantages in the subdivided field of micro inverter. Its products are widely used in the field of global distributed photovoltaic power generation system. Its business covers many regions such as America, Europe and Asia. It has high customer recognition and strong brand advantages at home and abroad. As a Chinese manufacturer with certain technical advantages in the field of micro inverter, the company is comparable or even slightly better than the world's leading manufacturer in terms of power density, power range and conversion efficiency. At the same time, the company's R & D team has effectively improved the utilization efficiency of electronic components through software algorithm optimization and hardware circuit design. In addition, with complete domestic industrial chain and low labor cost, the company's products have certain cost advantages over overseas competitors. At present, the company's business is in the stage of rapid development and is expected to become a company comparable to enphase and other leading manufacturers in the future.

reference information

company home page:

https://www.hoymiles.com/why-hoymiles/

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