Sany Renewable Energy earns listing on sci-tech board

Sany Renewable Energy Co Ltd, a subsidiary of Sany Group, was listed on the science and technology innovation board on Wednesday.

The issue price of the wind turbine generator manufacturer was 29.80 yuan ($4.44) per share. The share price rose 34.23 percent at opening; the closing price was 40.96 yuan per share, with a market value of 48.2 billion yuan.

Tang Xiuguo, president of Sany Group, said: "At present, the world is facing changes not seen in a century, with the background of the pandemic, digital transformation, and green transformation. We are delighted to see that green and low-carbon technologies represented by wind power continues to improve, and new technologies are emerging one after another. These provide new solutions for environmental pollution and ecological damage caused by traditional development paths."

By May, 127 countries and regions in the world have or plan to submit their carbon neutrality goals, involving 90 percent of the world's GDP, 85 percent of the world's population and 88 percent of the earth's carbon emission.

"This offers greater opportunity for new energy companies with international competitiveness, including Sany Renewable Energy," he said.

Zhou Fugui, chairman and general manager of Sany Renewable Energy, said: "The company's successful listing on the STAR Market is encouraging. Since establishment, we have witnessed the high-quality development of China's wind power technology. From 'introduction and absorption' to 'independent innovation', we have mastered the key technology of complete machine design and control, and formed the ability to manufacture and develop core components."

Currently, the R&D and manufacturing of wind turbine generators has become an important symbol of China's high-quality development, he added.

Under the country's carbon neutrality goal, it is expected that Sany Renewable Energy, together with other new energy companies, will further play the advantages in technical innovation, intelligent manufacturing and efficient management, make the best of the capital market, realize brand promotion and performance growth, and move towards a higher stage of development, bringing long-term and generous returns to the majority of investors, said Yang Minghui, general manager of Citic Securities.