Nextracker’s Chinese supplier Youli Intelligent to list on Beijing Stock Exchange

By Carrie Xiao
Facebook
Twitter
LinkedIn
Reddit
Email
Nextracker trackers.
Youli Intelligent, which plans to list on the Beijing Stock Exchange, is Nextracker’s largest non-US component supplier. Image: Nextracker

A key supplier to US tracker manufacturer Nextracker is to list on the Beijing Stock Exchange.

On 16 May, the Beijing Stock Exchange announced that Jiangsu Youli Intelligent Equipment Co., Ltd. (referred to Youli Intelligent, stock code: 874325) had met all issuance, listing and information disclosure requirements following deliberation by the BSE Listing Committee.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The prospectus shows that, established in 2017, the company’s main business is PV mounting systems, focusing on the R&D, production and sales of core components for PV mounting systems. Its main product portfolio includes some of the key components in PV mounting systems, including torque tubes for PV mounting system supports, bearing hinge assemblies and module attachment structures.

The prospectus reveals that overseas markets are Youli Intelligent’s primary markets. From 2022 to 2024, the company’s export sales accounted for 88.19%, 73.06%, and 78.72% of its total core revenue, respectively.

At the same time, Youli Intelligent exhibits a high customer concentration. During the reporting period, sales to its top five clients accounted for over 90% of the company’s total revenue. Notably, Nextracker, its largest customer, made particularly prominent contributions in both sales volume and gross profit share.

According to the report, Youli Intelligent has now become Nextracker’s largest non-US market supplier. As disclosed in the prospectus, the company’s sales to Nextracker accounted for 80.69%, 61.67%, and 70% of its total revenue in 2022, 2023, and 2024 respectively.

Regarding its high customer concentration, Youli Intelligent explained that this is attributable to industry dynamics, citing Wood Mackenzie data showing Nextracker has maintained its position as the global leader in solar tracker shipments for nine consecutive years (2015-2023). The company contends this market dominance provides justification for its concentrated client base.

An analysis of Youli Intelligent’s key client sales performance reveals that its rapid business growth primarily stems from deepening collaborations with key clients. Notably, the company’s sales to Nextracker increased significantly from RMB319 million (US$44.3 million) in 2022 to RMB510 million in 2024.

Nextracker announced in its recent financial results for Q1 of 2025 (commencing April 2024) and the full fiscal year performance. In the first three months of 2025, the company reported revenue of US$924 million, representing a 26% year-on-year growth. The company continued to demonstrate strong order intake momentum, with its backlog showing sequential quarterly growth. This robust performance is expected to underpin Nextracker’s growth trajectory for the current fiscal year.

In addition, Youli Intelligent said that the company has also established strong cooperative relationships with other well-known domestic and international PV mounting system companies, including Optimum Tracker, Gonvarri Industries, Trina Solar and Antaisolar.

As the “skeleton” supporting PV modules, PV mounting systems significantly impact the power generation efficiency and investment returns of PV power plants through their technical level and performance, playing a crucial role in power plant investments. In China’s A-share market, the PV mounting sector already has multiple listed companies, including Arctech Solar and CTZ Group. 

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 26, 2025
A group of minority shareholders in Norwegian silicon firm REC Silicon has triggered an investigation into the circumstances surrounding the closure of the company’s US polysilicon production site.
June 26, 2025
Nextracker will supply solar tracker systems to a 550MW solar PV project in the Greek province of Western Macedonia, owned by Greek renewables developer PPC Renewables.
June 26, 2025
PV solar cell manufacturer Halocell Energy has launched its first perovskite-based product called the Halocell Ambient Modules.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA