Inverter Giant Reports Explosive Growth in Industrial Automation and Energy Sectors

InvertTech released its Q3 2024 financial results, showing a significant surge in performance. The company reported a 213.64% year-over-year increase in operating revenue to 3.112 billion yuan and a net profit of 240.735 million yuan, turning profitable from a loss. Key growth drivers were its industrial automation and energy businesses. The industrial automation segment, centered on high-voltage inverters, and the energy segment, focused on energy storage systems and EPC projects, both demonstrated strong momentum. Specifically, the energy storage business revenue grew 161.47% year-over-year. The company also showcased new products, including a liquid-cooled energy storage system, at the RE+ 2024 exhibition, securing strategic partnerships to expand its global footprint.