On May 23, Atlas Sunshine Power Group Co., Ltd. (Hereinafter referred to as "Atlas") disclosed a letter of intent to publicly issue 541,058,824 shares, accounting for 15% of the total number of shares issued by the company, and planned to apply for purchase on May 31.
In this IPO, Atlas intends to raise 4 billion yuan, the sponsor is China International Finance Corporation Limited, and the sponsor representatives are Wei Xianyong and Xue Haoxin. According to
the prospectus, Atlas is one of the world's major manufacturers of photovoltaic modules, whose core business is the research and development, production and sales of crystalline silicon photovoltaic modules. It includes photovoltaic system business, large-scale energy storage system and EPC business of photovoltaic power plant project.
According to the prospectus, in the first half of 2019-2022, Atlas's operating income was 21.680 billion yuan, 23.279 billion yuan, 28.010 billion yuan and 19.819 billion yuan, respectively, with an increase of 7.38% and 20.32% in 2020 and 2021, respectively.
In terms of product composition, the revenue of Atlas photovoltaic modules during the reporting period was 15.951 billion yuan, 18.576 billion yuan, 22.659 billion yuan and 15.622 billion yuan, accounting for 75.90%, 81.14%, 82.68% and 80.30% of the current main business income, respectively. During the reporting period, the company's sales volume was 7902 MW, 10652 MW, 12745MW and 7753.70 MW, respectively.
According to Infolink data, Atlas ranked fifth in global PV module shipments in 2022.
Source: Times IPO
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