Breaking Down Sichuan Injet Electric Stock Co.,Ltd. Financial Health: Key Insights for Investors

Sichuan Injet Electric Stock Co., Ltd. (300820.SZ) traces its roots to a three-person startup in Deyang in 1996, grew to build its own production base by 2000 and earned ISO 9001 and 'Sichuan High‑tech Enterprise' recognition by 2002, later listing on the Shenzhen Stock Exchange on February 13, 2020 as it expanded from industrial power supplies into photovoltaics and EV charging; today the company reports robust 2024 financials with revenue of CN¥1.78 billion, net income of CN¥322.8 million (≈18.1% margin) and operating cash flow of CN¥601.8 million, operates an 80‑acre modern facility and R&D platforms, boosted 2023 annual capacity to 400,000 AC and 12,000 DC charging piles plus 60 MW each of energy‑storage converters and systems, maintains a mixed shareholder base with insiders holding 66.82% and institutions 8.83% while market capitalization stood near CN¥10.38 billion as of July 1, 2025 and key executives planned a combined reduction of 76,263 shares (~0.034%), and serves petroleum, chemicals, metallurgy, photovoltaics, semiconductors and other sectors with a product range from thyristor controllers to high‑voltage DC and energy‑storage converters that underpin its revenue model-read on to explore ownership, mission, operations and how these product lines monetize expertise and scale.

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ): Intro

• 1996 - Founded in Deyang, Sichuan by a three-person team concentrating on industrial power supply.
• 2000 - Built first dedicated production base, establishing in-house manufacturing capability.
• 2002 - Achieved ISO 9001 certification and was recognized as a Sichuan High-tech Enterprise.
• 2005 - Developed China's first domestic all-digital monocrystalline silicon DC power supply and entered the photovoltaic (PV) market.
• 2020-02-13 - Listed on the Shenzhen Stock Exchange (Ticker: 300820), marking its transition to a public company.
• 2023 - Expanded production capacity with a new base: annual capacity raised to 400,000 AC charging piles, 12,000 DC charging piles, 60 MW energy storage converters, and 60 MW energy storage systems.

• Listed company structure with publicly tradable A-shares on SZSE (Ticker 300820).
• Shareholder composition typically includes founding/management stakes, institutional investors, and public retail shareholders-major holder identities and percentage stakes are reported in the company's periodic filings with the Shenzhen exchange and the company's annual report.
• Corporate governance follows Chinese listed-company disclosure standards; board and supervisory composition is disclosed in regulatory filings.

• Mission: Provide reliable, efficient power supply and energy conversion solutions for industrial, photovoltaic and new-energy vehicle charging ecosystems.
• Strategic focus: R&D-driven product innovation in power electronics, expansion into PV, EV charging infrastructure, and energy storage systems.
• Technology orientation: All-digital power supplies, integrated converters, and scalable charging solutions designed for mass production and grid/vehicle integration.

• AC charging piles: Modular AC chargers for residential, commercial, and light public charging scenarios; designed for high-volume production (2023 capacity 400,000 units/year).
• DC charging piles: Fast-charging DC systems for commercial and public charging hubs (2023 capacity 12,000 units/year).
• Energy storage converters & systems: Power conversion products and integrated energy storage solutions for grid support, PV integration, and commercial storage (2023 capacity 60 MW converters; 60 MW systems/year).
• Industrial power supplies and PV inverters: Legacy and evolved product lines for industrial power management and photovoltaic integration, leveraging in-house all-digital designs.

• Product sales - hardware (AC/DC chargers, converters, energy storage systems, industrial power supplies) represent the primary revenue stream.
• Project contracts - turnkey installations for charging parks, PV + storage integrations, and industrial power supply projects generate higher-margin, project-based income.
• After-sales & services - maintenance, software/firmware upgrades, warranty services, and extended service agreements provide recurring revenue and customer retention.
• OEM/ODM manufacturing - contract manufacturing for partners and system integrators augments utilization of production capacity.

• Public company reporting: Revenue, gross margin, net profit, and R&D expense trends are available in the company's annual and quarterly reports filed with the Shenzhen exchange.
• Capital allocation: Post-IPO investments prioritized expansion of production capacity (new 2023 base) and R&D for power electronics and charging technologies.
• Market drivers: EV penetration, national charging infrastructure targets, PV deployment, and energy storage adoption underpin demand for the company's product portfolio.

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ): History

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ) has evolved from a regional electric equipment and systems supplier into a listed player focused on power electronics, electric drives, and industrial automation. Key corporate milestones include its R&D expansion, listings and strategic partnerships that supported growth in domestic industrial electrification and export markets.

• Market capitalization (as of July 1, 2025): CN¥10.38 billion.
• Insider ownership: 66.82% of total shares.
• Institutional ownership: 8.83% of total shares.
• Executive planned reduction (August 2025): 76,263 shares (~0.034% of total share capital), involving Directors and Deputy General Managers.

The ownership mix indicates dominant internal control with significant executive and affiliated holdings, complemented by strategic and financial investors that provide operational support and liquidity. The small-parcel holdings listed for several corporate and related entities reflect concentrated control structures common in Chinese listed industrial firms.

For the company's articulated purpose and values, see: Mission Statement, Vision, & Core Values (2026) of Sichuan Injet Electric Stock Co.,Ltd.

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ): Ownership Structure

• Mission: Deliver high‑quality, innovative products and services that create greater customer value.
• Core values: technological innovation, quality excellence, management optimization.
• Strategic focus: R&D‑led product development, production quality improvement, and brand building to enhance competitiveness.

• Equipment sales: design, manufacture and sale of industrial electric equipment and systems for target sectors (petroleum, chemical, metallurgy, etc.).
• Engineering contracting & EPC services: integrated project delivery for industrial installations and power systems.
• After‑sales & maintenance: service contracts, spare parts and lifecycle support for installed equipment.
• R&D-driven product upgrades and customized solutions: premium pricing for high‑spec and specialized equipment (nuclear, semiconductor, photovoltaic applications).

• Major shareholders typically include founding management and strategic institutional investors, with the public float listed on Shenzhen (SZSE: 300820).
• Board and management prioritize R&D investment and quality/management systems to support revenue from high‑value industrial customers.
• Corporate governance emphasizes operational controls and brand development to expand market share across heavy industry and emerging energy sectors.

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ): Mission and Values

• Core technological focus: thyristor power controllers, programmed DC power supplies, sputtering and RF power supplies, microwave and induction heating supplies, high-frequency and high-voltage DC power, single-crystal and polysilicon furnace power systems, and active power filters.
• Strategic objective: combine product diversification with modular, programmable controls to serve both legacy industrial markets and advanced clean-tech industries.
• Quality and management priorities: ISO-aligned quality systems, continuous improvement, and production-management optimization to increase first-pass yield and reduce downtime.

• Product architecture: modular power stages + programmable control units enabling application-specific configurations (e.g., adjustable thyristor firing, closed-loop current control, digital communication links for factory integration).
• Manufacturing footprint: a modern campus spanning over 80 acres in Deyang, Sichuan - supporting assembly lines, testing labs, and final validation areas for high-voltage and RF products.
• R&D ecosystem: Provincial Enterprise Technology Centre, Municipal Engineering Technology Research Centre, and an Academician Expert Workstation that drive proprietary topologies and process automation.

• Traditional industries: petroleum, chemical processing, metallurgy, heavy machinery, and building materials (process heating, electroplating, power control for large motors and furnaces).
• Emerging/high-growth industries: photovoltaics (sputtering and PECVD power supplies), semiconductors (precision DC and RF supplies), nuclear power (high-reliability DC and control systems), and environmental protection (active power filters and energy-efficient induction heating).

• Product sales: turnkey power supply units sold to OEMs and end-users across industrial and high-tech sectors.
• Project contracts: engineered systems for furnaces, plating lines, PV equipment, and large-scale industrial retrofits - typically higher-margin than standard boxes due to customization and installation services.
• After-sales: service, spare parts, extended warranties, and periodic calibration/testing contracts that create recurring revenue streams.
• R&D-driven upgrades: licensing of control algorithms, firmware updates, and bespoke system integrations for key customers.

• Listed ticker: 300820.SZ - positioning as a specialized industrial-electronics equipment manufacturer with increasing exposure to clean-energy and semiconductor capex cycles.
• Revenue & margin drivers: order intake correlated with cycles in PV and semiconductor investment; higher-margin engineered projects and aftermarket services support profitability resilience.
• Competitive edge: proprietary control technologies, localized manufacturing scale in Sichuan, and institutional R&D platforms that reduce development lead times and support customization.

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ): How It Works

• Primary revenue sources: product sales (standard and customized power supplies), engineering & system integration projects, maintenance and after-sales service, spare parts and upgrades.
• Product portfolio (representative): thyristor power controllers, programmed DC power supplies, sputtering & RF power supplies, microwave power supplies, HF DC power supplies, induction heating power supplies, high-voltage DC power supplies, single crystal furnace power supplies, poly-silicon reduction furnace power supplies, and active power filters.
• End markets served: petroleum, chemicals, metallurgy, machinery, building materials, photovoltaics, nuclear power, semiconductors, and environmental protection.

• High-margin customized units: tailored power supplies (e.g., single crystal furnaces, poly-silicon reduction furnaces) command premium pricing for specialized performance and reliability.
• Recurring revenue: service contracts, spare parts and performance upgrades for installed base provide steady aftermarket income.
• Project and systems revenue: large-scale industrial projects (integrated power control systems) produce one-off but sizable contract revenue with accompanying long lead times.
• Cross-selling: control software and active power filters often sold with power hardware, increasing average contract value.

• In-house R&D focuses on power electronics, thermal management, high-voltage insulation and control algorithms to maintain technology differentiation.
• Manufacturing combines standardized production lines for common modules with flexible assembly for customized systems; strong quality controls support industrial certifications required by heavy industry and energy clients.
• Sales channels: direct sales to large industrial clients, strategic partnerships for vertical markets (e.g., photovoltaics, semiconductors), and exports to overseas industrial customers.

• Technical differentiation: advanced power control and high-reliability designs reduce price competition and support premium pricing.
• Vertical industry exposure: supplying capital equipment to sectors with high entry barriers (nuclear, semiconductors, photovoltaics) increases contract size and margins.
• Aftermarket and service economics: installed base yields recurring revenue and higher lifetime customer value.
• Cash conversion: operating cash flow (CN¥601.8m) exceeding net income indicates quality of earnings and efficient working capital management.

Sichuan Injet Electric Stock Co.,Ltd. (300820.SZ): How It Makes Money

• Core revenue streams:
  • Sale of AC charging piles and DC fast chargers
  • Energy storage converters and turnkey energy storage systems
  • Project engineering, installation, and long-term service contracts
  • Technology licensing and strategic equity investments (e.g., partnership funds)

• Geographic and market reach:
  • Products distributed to the United States, Japan, South Korea and multiple emerging markets
  • Export-driven growth supports higher ASPs (average selling prices) and diversified currency exposure

• How the business model converts activity into profit:
  • High-volume manufacturing lowers unit cost for AC chargers (scale achieved with 2023 capacity expansion)
  • Higher-margin DC chargers and custom energy storage systems derive premium pricing due to engineering complexity
  • Recurring service and maintenance contracts stabilize cash flows and raise lifetime customer value
  • Strategic investments (e.g., CN¥200.1M fund) provide optionality to capture upstream/downstream value in green mobility