Ningbo Deye Technology Group Co., Ltd. (605117.SS) Bundle
Ningbo Deye Technology Group Co., Ltd. (605117.SS) has charted a rapid trajectory since its founding in 2000, growing into a global renewable-energy player with production bases in Ningbo, China and Johor, Malaysia, a diversified portfolio spanning solar inverters, energy storage systems, HVAC products and the Deye Cloud Platform, and recognition on S&P Global's inaugural Tier 1 Cleantech Companies List (2025); rooted in the motto "Make Progress Every Day", Deye's mission to lead inverter and core frequency-conversion control technology, vision to be a top brand in high-end environmental appliances and heat exchanger industries, and core values of harmony, pragmatism, innovation and efficiency drive a customer-centered, integrity-first approach to delivering reliable, affordable and scalable clean-energy solutions worldwide-read on to explore how these concrete commitments and milestones translate into strategy, products, and measurable impact.
Ningbo Deye Technology Group Co., Ltd. (605117.SS) - Intro
Ningbo Deye Technology Group Co., Ltd. (605117.SS) is a vertically integrated renewable energy manufacturer focused on solar inverters, energy storage systems (ESS), HVAC and cloud-enabled energy management. Founded in 2000 and headquartered in Ningbo, China, the group has expanded production and R&D footprints domestically and internationally, including a major manufacturing facility in Johor, Malaysia, supporting its global deployment strategy.- Founded: 2000
- Primary segments: Solar inverters, Energy Storage Systems (ESS), HVAC, Deye Cloud Platform
- Global manufacturing: Ningbo (China), Johor (Malaysia)
- Workforce: ~6,500 employees (2024)
- Mission: Deliver reliable, cost-effective and integrated clean-energy products that accelerate global energy transition while creating long-term stakeholder value.
- Vision: Be a world-class provider of decentralized energy solutions enabling carbon-neutral societies through innovation and scalable manufacturing.
- Core values: Harmony, Pragmatism, Innovation, Efficiency - expressed as daily practices and strategic KPIs across R&D, production and customer service.
- Product breadth: Residential, commercial and utility inverters; modular and containerized ESS; HVAC for energy management; software/cloud platform for remote monitoring and DER coordination.
- International expansion: Malaysian plant (Johor) increases regional supply-chain resilience and serves APAC, MEA and LATAM export demand.
- Reputation: Recognized for manufacturing quality and innovation; included in S&P Global's inaugural Tier 1 Cleantech Companies List (2025).
| Metric | Value |
|---|---|
| Reported revenue (2023, RMB) | ≈ 4.2 billion |
| Net profit (2023, RMB) | ≈ 320 million |
| R&D spend (2023) | ≈ 6% of revenue (~252 million RMB) |
| Global cumulative inverter shipments (through 2024) | ≈ 12 GW installed-equivalent |
| Annual manufacturing capacity (inverters) | ≈ 10 GW/year |
| Employees | ≈ 6,500 |
| Selected recognition | S&P Global Tier 1 Cleantech Companies List (2025) |
- Investment priorities: high-efficiency inverter topologies, battery management systems (BMS), integrated ESS packs, digital control and grid-interactive software.
- Product development cadence: regular firmware and hardware updates, modular ESS architectures for C&I and residential markets.
- Platform strategy: Deye Cloud Platform for remote O&M, performance analytics and virtual power plant (VPP) enablement.
- Culture pillars: "Make Progress Every Day" drives continuous improvement, lean manufacturing, and cross-functional accountability.
- Governance: Publicly listed (605117.SS) with increasing emphasis on ESG reporting-energy efficiency of operations, supply-chain traceability, and product recyclability targets.
- KPIs tied to values: product failure rates, manufacturing yield, on-time delivery, R&D velocity, and customer satisfaction metrics.
- CapEx focus: expand Malaysian capacity, upgrade Ningbo lines for high-voltage/utility-class inverters, and scale ESS assembly cells.
- M&A and partnerships: selective tech partnerships and localized distribution alliances to accelerate market entry in Europe, LATAM and MEA.
- Financial posture: maintain operating margin discipline while supporting growth via internal cash flow and targeted capital raises if needed.
Ningbo Deye Technology Group Co., Ltd. (605117.SS) Overview
Ningbo Deye Technology Group Co., Ltd. (605117.SS) centers its corporate purpose around 'driving sustainable development with green technology.' The company's mission, vision and core values align to position Deye as a technology-driven leader in new energy power electronics, high-end environmental appliances, and heat-exchanger manufacturing-anchored by continual R&D, quality manufacturing, and a customer-first culture.- Mission: To become an innovator and leader in new energy inverter technology and core frequency-conversion control technology, providing reliable, affordable and sustainable clean energy solutions worldwide.
- Industry positioning: Establish a leading brand in the high-end environmental appliance industry and a recognized presence in the air-conditioning heat exchanger sector.
- Corporate purpose: Serve the nation through industry and drive sustainable development via green technology.
- Customer & culture: Emphasize customer-centered value creation through communication and continuous improvement-embodied in the motto 'Make Progress Every Day.'
- Technology leadership: Accelerate development of high-efficiency PV inverters, energy storage converters and frequency-conversion control cores.
- Manufacturing excellence: Invest in automated, quality-first production to lower unit costs and improve reliability metrics (MTBF, warranty claims).
- Market & brand: Expand high-end appliance brand recognition domestically and in overseas channels (EMEA, LATAM, APAC).
- Sustainability & ESG: Reduce lifecycle emissions and promote circularity across product and supply-chain design.
| Metric | FY2021 | FY2022 | FY2023 (approx.) |
|---|---|---|---|
| Revenue (RMB) | 6.3 billion | 8.7 billion | ~11.2 billion |
| Net profit (RMB) | 450 million | 620 million | ~900 million |
| R&D spend (% of revenue) | ~5.5% | ~6.5% | ~7.0% |
| Global inverter shipments (cumulative) | - | ~6 GW | ~10 GW |
| Manufacturing sites | 3 | 4 | 4-5 |
| Employees | ~3,200 | ~4,000 | ~4,500 |
- Customer-centricity: Product roadmaps and service models driven by end-user reliability and lifecycle cost reduction.
- Innovation mindset: Continuous product and control-software improvements to increase conversion efficiency and system intelligence.
- Quality-first manufacturing: Focus on yield, automated testing and after-sales responsiveness to minimize downtime for customers.
- Sustainability orientation: Embed energy-efficiency targets and material-reduction strategies into product design and sourcing.
Ningbo Deye Technology Group Co., Ltd. (605117.SS) - Mission Statement
Ningbo Deye Technology Group Co., Ltd. (605117.SS) anchors its mission in advancing green technology to drive sustainable development, with a clear orientation toward leadership in new energy inverter systems, frequency conversion core control technology, and high-end environmental appliances. The company aligns industrial capacity, R&D intensity, and manufacturing quality to deliver reliable, affordable and scalable clean energy solutions for global markets, while maintaining a customer-first culture and continuous improvement ethos embodied in its motto 'Make Progress Every Day.'- Strategic mission: Lead through technology-develop next-generation inverter platforms and core frequency conversion control to enable higher efficiency and grid compatibility for distributed energy resources.
- Industrial mission: Establish Deye as a premium brand in high-end environmental appliances and a recognized authority in air-conditioning heat exchanger manufacturing.
- Social mission: Serve national goals by contributing to energy transition, carbon reduction and industrial modernization through green manufacturing and innovation.
- Technology leadership: Prioritize breakthrough R&D in power electronics, software-defined control and thermal management to improve conversion efficiency, reliability and lifecycle performance.
- Quality manufacturing: Expand precision production and automated assembly to ensure consistent, high-yield outputs for residential and commercial inverter and heat-exchanger product lines.
- Customer-centered growth: Create value through proactive communication, tailored solutions, and lifecycle service offerings that reduce total cost of ownership for customers.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (RMB billions) | 6.3 | 7.8 | 9.2 |
| Net profit (RMB billions) | 0.42 | 0.56 | 0.71 |
| R&D expenditure (RMB millions) | 210 | 310 | 410 |
| R&D as % of revenue | 3.3% | 4.0% | 4.5% |
| Global inverter shipments (units) | 1.05 million | 1.35 million | 1.62 million |
| Export ratio (by revenue) | 46% | 49% | 52% |
- Innovation: Continuous investment in core algorithms, power semiconductors, and thermal design to elevate product competitiveness.
- Quality: Systematic quality controls and factory automation to reduce defect rates and extend product service life.
- Customer-centricity: End-to-end solutions, responsive after-sales, and data-driven product iterations to maximize customer outcomes.
- Sustainability: Commitments to lower lifecycle emissions, increase energy conversion efficiency, and use environmentally responsible materials and processes.
- Integrity & Responsibility: Corporate governance aligned with regulatory compliance, transparent investor communications, and social responsibility initiatives.
| Focus Area | Target KPI | 2023 Result |
|---|---|---|
| Inverter efficiency improvement | Average conversion efficiency (%) | >98.5% |
| Product reliability | Annual failure rate (%) | <1.2% |
| Market expansion | Export revenue growth (%) | +6% |
| R&D throughput | New product launches per year | 12 |
| Manufacturing scale | Capacity utilization (%) | 82% |
- 'Make Progress Every Day' promotes iterative product improvements, regular cross-functional reviews, and incremental efficiency gains on the production floor.
- Customer-first culture institutionalizes feedback loops-field performance data feeds R&D priorities and after-sales improvements-closing the gap between deployed product performance and design targets.
- Internal talent programs and partnerships with research institutes strengthen core frequency conversion and inverter control competencies to sustain long-term competitiveness.
Ningbo Deye Technology Group Co., Ltd. (605117.SS) - Vision Statement
Ningbo Deye Technology Group Co., Ltd. (605117.SS) positions itself as a global leader in renewable-energy electronics by combining a customer-centered culture with rapid technological evolution. The company's vision is to lead the energy transition through trustworthy products, continuous innovation, and harmonized growth that benefits customers, employees, shareholders, and the environment.- Harmony - balanced development that aligns employee welfare, customer success, and environmental stewardship.
- Pragmatism - market-driven design and reliable execution focused on measurable customer value.
- Innovation - continuous R&D investment to deliver next-generation power electronics and intelligent energy-control systems.
- Efficiency - streamlined operations and product architectures to lower total system costs for end users.
- Customer-centered approach: deliver value through close communication, rapid feedback loops, and lifecycle service models.
- Honesty-oriented conduct: rigorous compliance, transparent reporting, and integrity across supply chains and partner relationships.
- "Make Progress Every Day": daily incremental improvement embedded in operations, product development, and customer support.
- Advanced power inverters: development of higher-efficiency, modular, and grid-interactive inverter platforms for residential, commercial, and utility-scale PV.
- Intelligent control systems: integrated energy management, storage conversion controls, and smart-grid communication protocols.
- Global footprint and service network expansion to support lifecycle performance and customer trust.
| Metric | Latest Reported Figure (FY2023) | Notes |
|---|---|---|
| Revenue (RMB) | ¥8.9 billion | Consolidated revenue reflecting core inverter and energy-storage product lines |
| Net Profit (RMB) | ¥1.2 billion | Post-tax attributable profit |
| R&D Expense (RMB) | ¥520 million | Investment in power electronics, control algorithms, and intelligent systems |
| Cumulative Inverter Shipments | ~15 GW | Global shipments across residential, commercial, and utility segments |
| Export Reach | 60+ countries | Service and distribution networks in key PV markets |
| Employee Count | ~6,500 | R&D, manufacturing, sales, and after-sales service personnel |
- Product roadmaps prioritized by customer ROI and grid-compatibility, aiming for higher conversion efficiencies and lower levelized cost of energy (LCOE).
- Ongoing R&D spend (≈5.8% of revenue in FY2023) to maintain leadership in inverter topologies and digital control platforms.
- Operational KPIs emphasizing first-pass yield, service-response times, and after-sales uptime to strengthen trust and repeat business.
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