Breaking Down Shenzhen Sinexcel Electric Co.,Ltd. Financial Health: Key Insights for Investors

From its founding in Shenzhen in 2007 to launching China's first modular Active Power Filter in 2008 and expanding into EV charging in 2010 and energy storage in 2011, Shenzhen Sinexcel Electric Co., Ltd. (stock code 300693.SZ) has built a measurable footprint: 312.04 million shares outstanding and a market capitalization of about 12.23 billion CNY as of December 31, 2024, with the stock closing at 39.20 CNY on December 12, 2025; operational milestones include over 12 GW of installed energy storage across more than 6,000 projects, 100,000 EV chargers online, a TTM revenue of 3.16 billion CNY (TTM to Sept 30, 2025) with 4.78% year-on-year growth, EPS of 1.40 CNY and a P/E of 27.95, while a workforce of over 2,800 employees-nearly 30% in R&D-powers its manufacturing bases in Huizhou and Suzhou, R&D in Xi'an, global subsidiaries and partnerships that drive diversified revenues from power quality equipment, energy storage, EV charging infrastructure and battery manufacturing solutions.

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ): Intro

• 2007 - Company founded in Shenzhen, China, focused on industrial power electronics and new energy power quality solutions.
• 2008 - Launched China's first modular Active Power Filter (APF), a breakthrough in power quality mitigation for industrial users.
• 2010 - Entered the EV charging business, rolling out AC and DC charging products targeting private, commercial and fleet charging needs.
• 2011 - Expanded into energy storage systems and microgrids, developing PCS (Power Conversion Systems) and integrated storage solutions.
• 2017 - Listed on the Shenzhen Stock Exchange Growth Enterprise Market (GEM) under ticker 300693, the first GEM-listed company in low-voltage power quality in China.
• 2024 - Ranked among the top four in China's Energy Storage PCS supplier shipment ranking, reflecting strong shipment volumes and market position in PCS for utility and commercial energy storage.

• Listed entity: Shenzhen Sinexcel Electric Co.,Ltd., Shenzhen Stock Exchange (GEM), stock code 300693.
• Shareholder profile: a mix of founder/management holdings, institutional investors (including domestic funds and securities firms), and public float. Typical listed-shareholder breakdown: management & insiders, strategic shareholders, institutional investors and retail investors.
• Governance: Board of directors and supervisory board under PRC corporate law; key executive management responsible for R&D, manufacturing, sales and after‑sales for power quality, EV charging and energy storage.

• Mission: Provide reliable power‑electronics products and integrated solutions to improve power quality, enable electrification (EV charging) and accelerate energy storage adoption.
• Strategic priorities: expand energy storage PCS shipments, broaden EV charging footprint, enhance modular APF/active power quality product line, and pursue overseas markets.

• Product sales: APF units, EV chargers, PCS modules sold to OEMs, EPC contractors, integrators and end users.
• Project contracting and system integration: turnkey energy storage and microgrid projects (hardware + engineering + commissioning).
• After‑sales and maintenance: warranty services, O&M contracts, spare parts and software upgrades for deployed systems.
• Technology and software: value‑added control software, EMS (Energy Management Systems) and ancillary services enabling recurring revenue.

• First‑mover advantage in modular APF technology in China since 2008, supporting industrial electrification and power quality service offerings.
• Diversified product mix across APF, EV charging and energy storage PCS provides multiple revenue pillars aligned with national electrification and decarbonization trends.
• Public listing (300693.SZ) provides access to capital for scaling manufacturing, R&D and overseas expansion.

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ): History

• Public listing: Shenzhen Stock Exchange, stock code 300693.
• Shares outstanding (Dec 31, 2024): 312.04 million.
• Market capitalization (Dec 31, 2024): ≈12.23 billion CNY.
• Stock price (close, Dec 12, 2025): 39.20 CNY.

• Diverse shareholder base: institutional investors, retail (individual) shareholders, and company insiders/executive holdings.
• Institutional ownership includes mutual funds, pension-linked managers and strategic corporate partners (typical for A-share industrials).

• Product design & R&D: in-house development of power modules, motor controllers, and inverter systems targeting EVs, energy storage and industrial automation.
• Manufacturing & supply chain: scaled production facilities in Shenzhen and partner fabs, combining component procurement (IGBTs, MOSFETs, controllers) with assembly and testing lines.
• Sales channels: direct OEM contracts, distribution to system integrators, and after-sales service agreements for maintenance and upgrades.
• Export and domestic mix: sales split across Chinese OEMs and international customers, with growing export revenue as EV and renewable demand increases.

• EV drivetrain systems and electric motor controllers - primary revenue driver for automotive customers.
• Power inverters and converters for renewable energy and energy storage projects.
• Industrial automation drives and control systems for manufacturing and logistics.
• After-sales services, spare parts, and technology licensing/engineering services.

• Revenue: 3.16 billion CNY (+4.78% YoY).
• EPS: 1.40 CNY; P/E: 27.95 (based on 39.20 CNY close on Dec 12, 2025).
• Market confidence reflected in the 39.20 CNY share price and market cap near 12.23 billion CNY.

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ): Ownership Structure

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ) is a publicly listed power electronics and clean-energy technology company focused on energy efficiency, energy freedom and enabling high-performance energy systems. The company emphasizes technological innovation, sustainability and customer-centric integrated solutions for energy storage micro-grids, charging & swapping operations, and battery manufacturing support.

• Mission: Enhance energy efficiency, achieve energy freedom, and empower those who strive for excellence.
• Core focus: Power electronics technology for efficient, safe electrical energy conversion and management.
• Sustainability: Participant in China's National Innovation Fund and Shenzhen Science & Technology R&D Programs to advance clean energy solutions.
• Values: Customer-centric comprehensive solutions, integrity and transparency via public listing and regulatory compliance.
• Culture: Over 2,800 employees with nearly 30% (~840 employees) dedicated to research & development.

How it works & how it makes money:

• Product & service sales: Inverters, energy storage systems, charging & swapping system components, and related power electronics units sold to EPCs, integrators and OEMs.
• Turnkey solutions: Design, integration and deployment of micro-grid and energy storage projects generating higher-margin system revenue.
• After-sales & services: Maintenance, software updates and lifecycle management for installed systems.
• R&D-driven IP & partnerships: Commercialization of proprietary power electronics, yielding product differentiation and licensing/partner revenue opportunities.

Ownership notes:

• As a listed company, ownership is distributed among institutional investors, retail investors and company insiders in accordance with Shenzhen Stock Exchange disclosure rules.
• Transparency and regulatory compliance are maintained through regular filings and disclosures under Shenzhen exchange regulations.

Further investor-focused context: Exploring Shenzhen Sinexcel Electric Co.,Ltd. Investor Profile: Who's Buying and Why?

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ): Mission and Values

• Business Units: energy storage systems, EV charging solutions, power conversion and system integration.
• Support Platforms: R&D, supply chain management, quality assurance, finance, and international business development.

• Installed energy storage: >12 GW across more than 6,000 projects globally.
• EV charging: >100,000 chargers online, making it a leading EV charging provider in China.
• Strategic partners: long-term collaborations with industry players such as Shell and EVE Energy for project delivery, battery supply and integrated solutions.

• Product sales: battery energy storage systems (BESS), inverters, EV chargers and power electronics.
• Project EPC / system integration: turnkey energy storage and charging projects for commercial, utility and industrial customers.
• After-sales services: operations & maintenance contracts, remote monitoring, spare parts and warranty services.
• International sales & localized services: through subsidiaries in the US, Germany, Australia, Singapore and South Korea.

• Vertically integrated supply and manufacturing footprint (Huizhou, Suzhou) enabling cost control and delivery speed.
• Dedicated R&D center in Xi'an driving product competitiveness in energy storage and EV charging technologies.
• Global deployment capability demonstrated by >12 GW installed energy storage and >100,000 EV chargers online.

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ): How It Works

• Core product lines: active power filters, static VAR generators, energy storage systems (ESS), microgrid controllers, AC/DC EV chargers, battery formation & testing equipment.
• Service & lifecycle revenue: installation, commissioning, maintenance, extended warranties and O&M for large ESS and microgrid projects.
• Project & system sales: turn-key ESS and microgrid projects sold to industrial customers and renewables integrators.
• Export & partnership channels: OEM supply, global distribution and technology collaborations with international energy firms.

• Product sales (hardware): typically higher volume, lower gross margin than services but steady cash conversion-active power filters and static VAR products sold to industrial users.
• Systems & projects: ESS and microgrid projects generate lump-sum contract revenue, higher per-project margins and potential performance-based revenue (e.g., peak shaving, ancillary services).
• EV charging: both unit sales of AC/DC chargers and installation contracts; recurring revenue from operation contracts, maintenance and software/platform access fees.
• Battery formation & testing equipment: capital equipment sales to battery manufacturers - one-time but high ticket and strategic for supply-chain relationships.
• Services & software: extended warranties, remote monitoring, energy management software and O&M add recurring annuity-like margins.

• Product revenue mix (approximate split): power quality 30%, ESS & microgrid 30%, EV charging 25%, battery equipment & others 15%.
• Recurring services and software: growing share of gross margin, targeting double-digit annual growth as installed base expands.
• Order intake drivers: industrial automation projects, utility-scale and distributed storage tenders, EV infrastructure deployment in commercial & municipal projects.

• Vertical integration from R&D to manufacturing reduces per-unit cost and compresses lead times for large projects.
• Cross-selling: pairing ESS with EV charging and power-quality solutions increases average contract value and lock-in via integrated controls.
• Global partnerships and exports: broaden addressable market, stabilize revenue across cycles and leverage foreign projects for higher-margin systems work.
• After-sales contracts and platform fees: shift revenue composition toward annuity-like streams, improving predictability.

Shenzhen Sinexcel Electric Co.,Ltd. (300693.SZ): How It Makes Money

• Core revenue drivers: photovoltaic inverters, power conversion systems for distributed energy, grid-tied and off-grid solutions, and industrial drives.
• Project and service revenue: EPC and long-term O&M contracts for utility-scale and commercial installations.
• Recurring income: maintenance, spare parts, software updates, and performance guarantees tied to service-level agreements.
• Technology & licensing: joint developments with global partners and IP licensing for specialized power-electronics designs.

• Technology credentials: Guangdong Provincial Industrial Design Center accreditation and recipient of the Guangdong Science and Technology Progress Award - credentials that support higher-margin, innovation-led sales.
• R&D intensity: nearly 30% of the company's workforce is dedicated to R&D, fueling product refresh cycles and higher-value product introductions.
• Global expansion: exports and deployments across 50+ countries, strengthened by participation in major international exhibitions such as SNEC 2025 to capture new channel and EPC partnerships.
• Sustainability alignment: product portfolio targets clean energy transitions, positioning the company to benefit from global renewables investment trends and supportive policy frameworks.
• Local leadership: recognized as a leading private enterprise in Shenzhen's Nanshan District, aiding access to local industrial ecosystems and talent pools.

• R&D headcount share: nearly 30%-a leading indicator for product pipeline health and margin expansion.
• International traction: participation at SNEC 2025 and similar shows to accelerate channel formation in Europe, Latin America, and APAC.
• Strategic alliances: expanding collaborations with inverter OEMs, EPC firms, and energy-storage integrators to capture systems-level value.
• Policy & market tailwinds: global decarbonization and renewable procurement programs that increase demand for Sinexcel's product and service mix.