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CHINT Group

CHINT Group Co., Ltd.
CHINT
Native name
正泰集团股份有限公司
Company typePrivate
SSE: 601877 (CHINT Electric)
Industry
Founded1984; 41 years ago (1984)
Founder
  • Nan Cunhui
HeadquartersYueqing, Zhejiang, China
Key people
  • Nan Cunhui (Chairman)
RevenueIncrease US$22.1 billion (2024)
Total assetsIncrease US$24.3 billion (2024)
Number of employees
50,000+ (2024)
Websitechintglobal.com Edit this at Wikidata

CHINT Group Co., Ltd. (CHINT; Chinese: 正泰集团; pinyin: Zhèngtài Jítuán) is a Chinese holding company that focuses on low-voltage electrical appliances and photovoltaic products.

Its electrical appliance subsidiary is named CHINT Electric and is currently listed on the Shanghai Stock Exchange.

Background

Motor protective circuit breaker
Astronergy solar panels in California

CHINT was founded in 1984 by Nan Cunhui when he was 21 years old with five friends. They pooled 50,000 yuan in investment capital using earnings from shoe-repair work.[1][2][3]It began as Yueqing Switch Factory.[3]

In 1991, the factory was restructured into a joint-stock company. With foreign investment and advanced technology and equipment, Nan established the Sino-US joint venture CHINT Electric, which later became CHINT Group.[3]

In July 2001, Jiang Zemin decreed that private businessmen could join the Chinese Communist Party (CCP). Nan was rejected twice from joining before being accepted to become a deputy at the National People's Congress.[1][2] Nan encouraged CHINT employees to join the CCP and in 2002, the company had 262 party members.[2] CHINT was seen to be well connected to the Chinese government with its customers including the Three Gorges Dam, Baosteel; Beijing Airport, China Central Television and a string of provincial governments. CHINT was the first private company in Zhejiang to provide pension insurance for its workers and also provided better pay and benefits. In 2004, 60,000 visitors went to CHINT's factory in Wenzhou with most being provincial government officials who came to see how the private economy in China can operate.[1]

In 2006, CHINT entered the photovoltaic energy field.[3]

In 2007, CHINT sued Schneider Electric for patent infringement. In April 2009, Schneider Electric agreed to pay $23m to settle which at the time was the largest recorded settlement in an intellectual property case in China.[4]

In 2010, CHINT electric was listed on the Shanghai Stock Exchange.[3]

CHINT was one of the main sponsors involved in the creation of Wenzhou Minshang Bank, the first private bank in China. Nan would become its's chairman. The bank started operations in March 2015.[5]

By May 2024, CHINT had expanded its business operations outside China covering over 100 countries and regions. Overseas business accounted for 30% of total revenue.[6]

As of 2025, photovoltaic power stations have been a rapid growth point for CHINT in recent years.[7]

See also

References

  1. ^ a b c Ryan, Colleen (5 July 2005). "Chint Group heralds a new era". Australian Financial Review. Retrieved 18 February 2025.
  2. ^ a b c Wonacott, Peter (8 November 2002). "As Communist Party Congress Opens, Entrepreneurs' Role Is Still a Mystery". Wall Street Journal. ISSN 0099-9660. Retrieved 18 February 2025.
  3. ^ a b c d e Ma, Zhenhuan (20 May 2021). "Solar panel firm reflects new thinking on energy". China Daily. Retrieved 18 February 2025.
  4. ^ Waldmeir, Patti (16 April 2009). "Schneider settles China fight". Financial Times. Retrieved 18 February 2025.
  5. ^ "China's first private bank begins lending - China.org.cn". www.china.org.cn. 26 March 2015. Retrieved 18 February 2025.
  6. ^ 孙迟 (30 May 2024). "Sci-tech transforming Chint into smart energy provider". China Daily. Retrieved 18 February 2025.
  7. ^ Lu, Ruyi (18 February 2025). "China's Chint Electric to Work Harder on New Productivity, Chairman Says". Yicai Global. Retrieved 18 February 2025.
Quelle: http://en.wikipedia.org/wiki/CHINT_Group