GoodWe’s 2nd Annual Report on Corporate Social Responsibility: Sustainable Efforts and Achievements Highlighted

GoodWe Technologies Co., Ltd. (“GoodWe” or the “Company” or the “Group”), a world-leading photovoltaic (PV) inverters manufacturer and smart energy solutions provider, has released its 2022 Corporate Social Responsibility (CSR) Report, marking the second year of CSR reporting. The report details the company’s achievements in sustainable practices and progress in 2022.

Environmental initiatives and philanthropic practices back GoodWe’s sustainable development

For the first time, Goodwe received the EcoVadis Silver Medal in sustainability rating in 2022, which acknowledges its environmental, social and ethical performance. The accolade places GoodWe among the top 25% of the evaluated companies.

Upholding the mission of “building a sustainable future,” GoodWe has extended its carbon impact initiatives by reducing carbon emissions and carbon footprint in the production and operations. Six of its products received Product Carbon Footprint Certification in 2022, and the company is in compliance with the ISO 14064-1:2018 standard.

The GoodWe Guangde Smart Power Station Demonstration Project, a pilot program by the company, has successfully reduced cumulative carbon emissions by 2,323.32 tonnes as of November 2022. Located at GoodWe’s Guangde Factory in Anhui Province, China, the project utilizes GoodWe’s smart energy management platform for intelligent operation and optimized energy efficiency.

In 2022, the company continued to foster an inclusive corporate culture and support philanthropic programs. These efforts included building PV power stations for impoverished families and organizing employees to participate in voluntary work.

Technologies and product innovations reinforce GoodWe’s trusting partnership with customers

Adhering to the goal for driving the world’s smart energy future, GoodWe has made technology and product innovation a top priority in its sustainable strategy.

In 2022, GoodWe invested RMB 347.82 million in research and development, with a R&D team consisting of over 850 personnel. With inverters as its core, the company has also been committed to provide smart energy solutions for residential, commercial and industrial, and utility-scale applications, catering to diverse customers’ needs.

According to the report, GoodWe’s commitment to innovation was demonstrated at the InterSolar exhibition in 2022 in Europe when the company launched the GoodWe EcoSmart Home, designed as part of its residential energy solution.

Under the dedication of GoodWe’s over 4,600 employees across 20 countries, the company has set up partnership with clients over 100 countries and regions, supplying its full range of products and solutions worldwide.

GoodWe’s strategic investment fuels impressive sales and drives long-term growth

GoodWe’s unwavering commitment to technological innovation has yielded remarkable sales figures for the company. In the 2022 Annual Report issued early this year, GoodWe reported the sale of approximately 688,300 inverters during the reporting period, with on-grid inverters accounting for 66.97% and hybrid inverters for 33.03%. Also worth noting is that the company’s global accumulative capacity has reached 52GW, representing a milestone in its course of sustainable practice.

GoodWe posted a revenue of RMB 4.71 billion and a net profit of RMB 649.29 million in 2022, a year-on-year increase of 75.88% and 132.27%, respectively. The company believes that its strategic investments will continue to enhance customer experience, drive smart transformation, and advance sustainable development in the industry.

About GoodWe

GoodWe is a world-leading PV inverter manufacturer and smart energy solution provider listed on Shanghai Stock Exchange (Stock Code: 688390). The company has more than 4,600 employees worldwide and has a track record of over 52 GW of installations in over 100 countries and regions. GoodWe offers an extensive range of products and solutions tailored for residential, commercial and industrial, and utility-scale PV systems, delivering reliable and high-performance solutions across its entire portfolio. In 2021, GoodWe was recognized as one of the top three hybrid inverter suppliers worldwide by Wood Mackenzie. For more information, please visit goodwe.com.