Jiangsu Tongrun Equipment Technology Co., Ltd.: Riding the Wave of China’s Renewable‑Energy Surge
Jiangsu Tongrun Equipment Technology Co., Ltd. (002150.SZ) has positioned itself at the heart of China’s rapid expansion into photovoltaic (PV) and energy‑storage systems. The company, headquartered in Changshu, specializes in manufacturing tool cabinets, steel furniture, sheet‑metal products, and sheet‑metal machinery—components that are indispensable to the assembly and support of PV and battery‑storage installations. With a market capitalization of roughly 4.65 billion CNH and a closing price of 15.84 CNH on 3 September 2025, Tongrun is already a key player in a sector that has seen unprecedented growth.
Market Momentum: A Record‑Setting Day for Renewable‑Energy Stocks
On 5 September 2025, the Shanghai Composite index rebounded to 3,812.51 points, while the Shenzhen Composite and the ChiNext index surged 3.89 % and 6.55 % respectively. The daily trading volume reached 23.5 trillion CNH, a decline of 2.3 trillion from the previous day but still substantial in the context of a broader market that had been subdued. The rally was driven primarily by lithium‑battery and solid‑state‑battery themes, which collectively dominated the gainers’ list.
Within this bullish backdrop, Tongrun experienced a three‑day consecutive rise (three “连板”) that capped at a 9.97 % increase, taking its share price to 17.42 CNH by mid‑morning. The company’s 52‑week high, reached on 7 October 2024, stands at 16.93 CNH, indicating that the recent gains have already eclipsed the peak of the previous year.
The surge in Tongrun’s stock is a direct reflection of the expanding demand for PV‑storage integration. China’s new‑type storage capacity grew from 17.6 GW/1.68 GWh at the end of 2024 to 22.2 GW/2.22 GWh by mid‑2025, a 29 % increase that underscored the sector’s momentum. Tongrun’s product portfolio—particularly its steel cabinets and sheet‑metal enclosures—serves as the backbone for mounting and housing PV panels and battery modules, making it an essential component supplier in the value chain.
Institutional Interest and Capital Flow
The day’s institutional activity further validated Tongrun’s trajectory. Main‑stream funds pumped an aggregate 1.95 billion CNH into Tongrun over the preceding three days, with a net inflow of 471 million CNH on 4 September alone. This inflow was the largest among the 5,153 listed companies that day, placing Tongrun in the 148th position for large‑order net inflow.
Beyond equity flows, the financing margin for the sector increased dramatically. The overall financing net purchase for the power‑equipment industry surpassed 65 billion CNH during the week, while the electricity‑equipment and non‑bank financial sectors added over 40 billion CNH and 30 billion CNH respectively. Such capital injections are symptomatic of a broader institutional confidence in renewable‑energy infrastructure, which Tongrun is poised to capitalize on.
Competitive Advantage and Operational Resilience
Tongrun’s recent anomaly‑trading alert—a two‑day price spike exceeding 20 % cumulative deviation—was officially addressed by the company. Management confirmed that operations remained steady, that no material changes had occurred, and that no significant insider trading had taken place. By reassuring investors of operational continuity, Tongrun mitigated potential concerns over speculative price movements.
The company’s strategic alignment with 正泰电源 (Zhengda Electric Power), a leading player in PV inverters and storage converters, has amplified Tongrun’s market reach. Zhengda’s dominance in the North American commercial‑industrial PV market, coupled with its expansion into integrated PV‑storage solutions, provides Tongrun with a robust platform to secure larger orders and deepen its presence in high‑margin segments.
Forward Outlook
Demand Continuity: The Chinese government’s push for 100 GW of new‑type storage by 2026 and the ongoing expansion of PV parks in both urban and rural areas will sustain demand for Tongrun’s core products.
Margin Expansion: As the industry consolidates, Tongrun’s positioning in the supply chain—particularly its ability to deliver turnkey cabinet solutions—will likely command premium pricing, improving gross margins.
Geographic Diversification: Leveraging its partnership with Zhengda Electric Power, Tongrun can tap into international markets, especially in North America where PV‑storage integration is becoming mainstream.
Innovation Pipeline: Continued investment in advanced sheet‑metal fabrication techniques and modular design will enhance product differentiation, enabling Tongrun to meet evolving customer specifications for compact, lightweight, and corrosion‑resistant enclosures.
In sum, Jiangsu Tongrun Equipment Technology Co., Ltd. is riding a wave of unprecedented growth in China’s renewable‑energy sector. Its recent market performance, coupled with robust institutional backing and strategic partnerships, positions it favorably for sustained expansion. As the global transition to clean energy accelerates, Tongrun’s role as a critical component supplier will only grow in importance, providing investors with a compelling long‑term proposition.