Shenzhen Sinexcel Electric Co Ltd

On September 11, Sungrow, a global leader in solar and energy storage, sent a product price adjustment notice to downstream customers, announcing that starting September 20 it will raise prices for photovoltaic inverters, energy storage converters, and energy storage systems by 5% to 15%. A reporter from The Paper confirmed with a relevant person in charge of Sungrow's power energy storage product line that the main reason for the price increase is the rise in bulk material prices such as copper and aluminum, and secondarily to curb vicious low-price competition. Sungrow stated that the magnitude of upstream material price increases in this round has continued to exceed expectations, and existing product pricing can no longer cover the comprehensive investment in raw materials, manufacturing, technology iteration and upgrades, as well as after-sales operation and maintenance. This is not Sungrow's first price increase this year. In the first quarter, it and other inverter leaders such as Ginlong Technologies took the lead in raising prices for energy-storage-specific models by 6% to 10%. Since July, more than ten companies along the industry chain, including EVE Energy, Sinexcel, and Inovance Technology, have intensively issued price adjustment notices covering battery cells, converters, and solar-storage-charging equipment, with increases ranging from 5% to 30%. Cost pressure comes from multiple sources: lithium carbonate prices rebounded from a low point of less than 60,000 yuan per ton in mid-2025, and once exceeded 210,000 yuan per ton in June 2026, a cumulative increase of more than 200%. The surge in AI computing power has squeezed wafer production capacity, and prices of key components such as memory chips and IGBTs have generally risen by between 50% and 800%. Tian Qingjun, senior vice president of Envision, expressed opposition to vicious price competition and pointed out that planned capacity expansion for energy storage cells in the industry this year has already exceeded 800 gigawatt-hours, with completed capacity by the end of the year expected to be about 1.2 to 1.5 terawatt-hours, and total planned capacity approaching 2 terawatt-hours, far exceeding real global market demand. At present, price increases along the industry chain are mainly driven by rising costs, and whether the price increases can be accepted by downstream project owners still needs to be observed by the market.

Sinexcel Electric has released its implementation announcement for the 2026 interim equity distribution, declaring a cash dividend of 3.30 yuan per 10 shares, tax included. The record date is September 4, 2026, and the ex-dividend and ex-rights date is September 7, 2026. Sinexcel Electric is a constituent stock of the Dividend Quality Index, which selects 50 listed company securities with continuous cash dividends, relatively high dividend payout ratios, and strong profitability as samples. The Dividend Quality Index includes both growth-oriented industries such as pharmaceuticals and biotechnology, electronics, and computers, as well as traditional dividend industries like power equipment, building decoration, and non-bank finance, striking a balance between offense and defense. The ChinaAMC Dividend Quality ETF is the only ETF tracking this index, and its feeder funds include Class A 016440, Class C 016441, and Class D 024263.

Shenghong Electric released its 2026 interim report on August 11, 2026. The company's total operating revenue was 1.759 billion yuan, net profit attributable to the parent was 228 million yuan, and net cash inflow from operating activities was 166 million yuan. The company's latest asset-liability ratio was 46.85 percent, up 1.42 percentage points from the previous quarter. Gross margin was 40.70 percent, ROE was 10.14 percent, and diluted earnings per share was 0.73 yuan. Total asset turnover was 0.42 times, inventory turnover was 1.50 times, the number of shareholders was 40,300, and the top ten shareholders held 108 million shares, accounting for 34.59 percent of the total share capital.

Sinexcel Electric released its 2026 semi-annual report, proposing a cash dividend of 3.30 yuan per 10 shares, tax included, to all shareholders, with no conversion of capital reserve into share capital. During the reporting period, the company achieved operating revenue of 1.759 billion yuan, up 29.16% year-on-year, and net profit attributable to shareholders of the listed company was 228 million yuan, up 44.11% year-on-year.

Shell and Sinexcel have signed a memorandum of understanding and inaugurated the Shell Recharge-Sinexcel joint laboratory in Shenzhen to develop next-generation electric vehicle charging technologies. The partnership combines Shell's global operational expertise with Sinexcel's advanced power electronics capabilities to accelerate more efficient and scalable charging solutions. Separately, Shell is reportedly preparing a potential sale of its offshore wind portfolio valued at more than $1 billion, with a formal process possibly starting in late 2026, as it prioritizes higher-return investments.