SolarMax Technology, Inc.

• SolarMax Technology, Inc.
• Consumer Durables

SMXT

Offering Team

Pre-IPO Investors

Deal Highlights

We are an integrated solar and renewable energy company. A solar energy system retains the direct current (DC) electricity from the sun and converts it to alternating current (AC) electricity that can be used to power residential homes and commercial businesses. The solar business is based on the ability of the users of solar energy systems to save on energy costs and reduce their carbon imprint as compared with power purchased from the local electricity utility company. We were founded in 2008 to engage in the solar business in the United States and, following the acquisition in 2015 of Chengdu Zhonghong Tianhao Technology Co., Ltd. (“Chengdu ZHTH”), which is a subsidiary of Solarmax Technology (Shanhai) Co. Ltd. (together with its subsidiaries thereunder, “ZHTH”), and Jiangsu Zhonghong Photovoltaic Electric Co., Ltd., or ZHPV, commenced operations in China. Our business in China is primarily conducted through ZHTH and ZHPV and their subsidiaries.

We operate in two segments – the United States operations and the China operations. Our United States operations primarily consist of (i) the sale and installation of photovoltaic and battery backup systems for residential and commercial customers, (ii) financing the sale of our photovoltaic and battery backup systems, and (iii) sales of LED systems and services to government and commercial users.

Our China operations consist of identifying and procuring solar farm projects for resale to third parties and performing EPC services primarily for solar farm projects. Our operations in China are conducted through our principal Chinese subsidiaries.

Our China operations did not generate any revenue for the three months ended March 31, 2022 and generated revenue of $7.8 million for the year ended December 31, 2021, and revenue of $96.1 million in the year ended December 31, 2020, substantially all of which was generated pursuant to agreements with SPIC, which is a large state-owned enterprise under the administration of the Chinese government that holds a range of energy assets, on four projects. less

We are an integrated solar and renewable energy company. A solar energy system retains the direct current (DC) electricity from the sun and converts it to alternating current (AC) electricity that can be used to power residential homes and commercial businesses. The solar business is based on the ability of the users of solar energy systems to save on energy costs and reduce their carbon imprint as compared with power purchased from the local electricity utility company. We w More

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