Pylontech Added to MSCI China A Onshore Index
PR97527
SHANGHAI, Aug. 23, 2022 /PRNewswire=KYODO JBN/ --
Pylontech (688063), a dedicated battery storage system (BSS) provider listed on
the Shanghai Stock Exchange STAR MARKET (SSE), was added to the MSCI China A
Onshore Index and MSCI China All Shares Index on August 11, 2022.
MSCI, as a leading provider of critical decision support tools and services for
the global investment community, announced the changes in its August 2022
Quarterly Index Review for the MSCI Equity Indexes. In this review, MSCI China
A Onshore Index made seven additions with Pylontech named as one of the three
largest. This inclusion is testimony to Pylontech's promising growth.
As the first BESS-focused company listed on the SSE, Pylontech's comprehensive
strategy layout, high market share, and strong branding, has gained it a top 2
ranking among global residential BESS suppliers by IHS Research and is ranked
among Forbes China 50 Most Innovative Companies. The addition to MSCI index is
proof of Pylontech's representative role in the energy storage industry and
recognition of its comprehensive strength, competitiveness, industry position,
stock circulation, among others. It also means Pylontech will embrace more
opportunities and attract attention with its investment value and development
potential from global investors.
"Pylontech is proud to be a MSCI index company and grateful for the recognition
of the capital market. We are committed to create more value for shareholders,
customers and other stakeholders with our leading energy storage technology and
reliable products and services. And we will grasp this chance and create more
economical value to our shareholders benefiting from the rapid development of
renewable energy. We have to do more to achieve net-zero carbon emissions" said
Geoffrey Song, vice president of Pylontech.
Under the backdrop of the global energy crisis and energy transition, clean
energy will gradually replace traditional fossil energy. Energy storage will be
the key technology to promote the replacement of main energy from fossil energy
to renewable energy.
BloombergNEF reckons that the entire global energy storage market will reach up
to 58GW/178GWh in 2030, five times more than the recording capacity installed
in 2021 (10GW/22GWh). There are huge opportunities for energy storage over the
next decade, spurring the transition to more sustainable energy. The support of
different national policies, the favor of capital, and a clear and sustainable
business model indicate that energy storage will become a value investment
orientation.
All changes in the MSCI review will be implemented as of the close of August
31, 2022.
For more information, please click the link below
https://www.msci.com/eqb/pressreleases/archive/MSCI_Aug22_QIRPR.pdf
About Pylontech
Pylontech was founded in 2009 as a dedicated battery storage system (BSS)
provider by consolidating their expertise in electrochemistry, power
electronics and system integration. By providing reliable and affordable ESS
battery products and solutions, the company have enabled the market position as
one of the top suppliers of lithium battery storage globally by its 7-years
increasing rate by double.
Stock No.: 688063
Website: https://en.pylontech.com.cn/
SOURCE: Pylontech
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