Brief analysis and key recommendations of inverter export data in November

Brief analysis and key recommendations of inverter export data in November

Total exports
Export value in November 2024: US$609 million, up 9.07% year-on-year and down 7.51% month-on-month.
The cumulative export value from January to November 2024 was US$7.599 billion, a year-on-year decrease of 18.79%.
Analysis: The annual cumulative export volume declined, indicating that the overall market demand weakened, but the year-on-year growth rate turned positive in November, indicating that the demand for a single month has rebounded.

Export performance by region

Regions with the fastest growth rates:
Asia: US$244 million (+24.41% QoQ)
Oceania: USD 25 million (up 20.17% from the previous month)
South America: US$93 million (up 8.07% from the previous month)

Weaker areas:
Europe: $172 million (-35.20% month-on-month)
Africa: US$35 million (-24.71% month-on-month)
North America: US$41 million (-4.38% month-on-month)
Analysis: The Asian and Oceania markets grew rapidly, while the European market declined significantly month-on-month, possibly due to the impact of energy policies and demand fluctuations.

Export performance by country
Countries with the most impressive growth rates:
Malaysia: US$9 million (up 109.84% from the previous month)
Vietnam: US$8 million (up 81.50% from the previous month)
Thailand: US$13 million (up 59.48% from the previous month)
Analysis: Southeast Asia is mainly a part of domestic production capacity overflow, and the final export destination is Europe and the United States. With the current Sino-US trade war, it may be affected

Other growth markets:
Australia: US$24 million (up 22.85% from the previous month)
Italy: USD 6 million (+28.41% month-on-month)
Export performance by province

Provinces that performed better:
Anhui Province: US$129 million (up 8.89% from the previous month)

Provinces with the largest declines:
Zhejiang Province: US$133 million (-17.50% month-on-month)
Guangdong Province: US$231 million (-9.58% month-on-month)
Jiangsu Province: US$58 million (-12.03% month-on-month)
Analysis: The coastal economic provinces and cities are affected by the potential trade war, and the global economic situation has declined

Investment advice:
The competition for traditional standard products is intensifying. Innovative products with technological features may have some opportunities. We need to explore market opportunities in depth and find new market opportunities.

Risk Warning Requirements Risk:
Market demand may be lower than expected, affecting export growth.
Industry Competition: Increased competition could depress profit margins.

In summary, inverter exports in November showed regional differentiation: Asia and Oceania performed strongly, while Europe and Africa declined significantly. It is recommended to pay attention to the demand growth in emerging markets such as Southeast Asia, as well as the market layout of key companies in the fields of large savings and household savings, while being vigilant to potential risks brought about by demand fluctuations and intensified competition.