In the first three quarters of 2022, INJET achieved revenue of 772 million RMB, an increase of 63.60% over the previous year. In the fourth quarter of 2022, INJET's profit level improved again, with net profit reaching 99 million - 156 million RMB, and earnings already close to the previous year's full-year level.
The main products of INJET are industrial power supplies, power control power supplies and special power supplies, mainly in new energy, new materials, new equipment in these industries to do equipment power supply support. Product types include AC power supply, DC power supply, high voltage power supply, induction heating power supply, AC EV Charger and DC EV Charging Station, etc.. The specific industries involved are divided into photovoltaic, semiconductors and other electronic materials, charging piles and other industries including steel and metallurgy, glass and fiber, research institutes, etc. This other industry includes more than 20 industries, of which the photovoltaic industry (polycrystalline, monocrystalline) has the highest revenue share of more than 65% and a market share of more than 70%.
INJET's expansion into other sectors has already begun, with a major focus on EV charger , photovoltaics and energy storage in 2023.
In fact, in 2016, INJET entered into the development and manufacturing of EV charger power modules and charging stations, and designed and developed a series of electric vehicle charging equipment to meet different power requirements independently, providing customers with a series of solutions for electric vehicle charging equipment.
In November last year, the company also issued a fixed increase proposal to raise 400 million yuan for the expansion of EV charger, electrochemical energy storage production and additional working capital.
According to the plan, the new energy vehicle charger expansion project is expected to achieve an additional annual output of 12,000 DC EV charger and 400,000 AC EV charger after it is completed and reaches production.
In addition, INJET will invest R&D funds and technologies in electrochemical energy storage to create new growth points for the company. According to the project plan, the above-mentioned electrochemical energy storage project is expected to achieve an annual production capacity of 60MW energy storage converters and 60MWh energy storage systems after completion.
Now, the energy storage converter and energy storage system products have completed prototype production and sent samples to customers, which have been widely recognized by customers.