Hanergy opens 60 stores in China to broaden solar sales channel

BEIJING -- Hanergy Thin Film Power Group Ltd., the Chinese solar power-equipment maker controlled by billionaire Li Hejun, opened 60 retail stores and “user experience centers” across the nation to boost services, sales and brand recognition.

The stores are located in cities throughout China, including Chengdu, Shanghai, Guangzhou, Shenyang and Xi’an, its parent, Hanergy Holding Group Ltd., said in a statement on its website. The company plans to increase the user experience centers in China to 300 by the end of the year and to 1,500 worldwide by 2017. Hanergy also opened an online sales site, hanergyshop.com, and another site on Internet retailer Alibaba, according to the statement. The company said it rolled out more than 20 household products such as rooftop solar power systems.

Hanergy’s market value has more than doubled since Jan. 1 to about HK$276 billion ($36 billion), making it the best performer on the 125-company NYSE Bloomberg Global Solar Energy Index. The company is seeking to diversify sales as its parent was the sole source of revenue in 2013 and 2012, according to its financial statements.

Ikea Group, the biggest home-furnishing retailer, said in September 2013 that it had an agreement with Hanergy Thin Film to sell solar-panel systems in its 18 U.K. stores. Hanergy Holding has bought four overseas companies since 2012. Alta Devices Inc., Global Solar Energy Inc., Miasole Inc. and Q-Cells SE’s Solibro unit were among the targets.

Copyright 2015 Bloomberg

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