B&R Initiative drives Chint’s expansion
opportunities. It has established factories in overseas markets such as Thailand, Malaysia, Pakistan, Iran and Egypt.
“We are expanding our global operations in response to the Belt and Road Initiative, with our high and low voltage equipment and general contract services entering 80 percent of the countries and regions related to the initiative,” Nan said.
“Our power transformers have a 70 percent market share in Pakistan. The new energy factory in Thailand, which covers an area of nearly 60,000 square meters, promotes employment in Thailand,” Nan added.
Nan said his company has benefited from its acquisition of Conergy, a German photovoltaic company, in 2014.
“We have promoted the internationalized production of our photovoltaic components, as well as enhanced our overall capacities in intelligent manufacturing and operating international businesses,” Nan said.
In 2016, Chint acquired a 25 percent stake in Spain’s graphene polymer battery company Grabat Energy SL to seek new business growth. Last year, it acquired Sunlight Electrical Pte Ltd.
“We need to make a full investigation of the overseas business legal environment, profit model and various resources when engaged in M&As or making direct investments,” Nan added.
So far, Chint has established factories, R&D centers and marketing branches in about 80 countries in Europe, North America, South America, the Middle East and the Asia-Pacific region.
The company said its total assets are valued at more than $7 billion and it has over 30,000 employees. It has constructed more than 90 photovoltaic power plants overseas, and sells its products to over 140 countries and regions.