以下沉产业链为根基，潮电智库特选出逆变器行业系列明星产品进行拆解，旨在通过展现内部核心结构件及成本占比，为中国供应链找到更准确的商机落点。

继阳光电源、古瑞瓦特、固德威、Enphas等厂牌逆变器产品之后，本期拆解主角为锦浪科技GCI-3P25K。

该逆变器特点为三相输出，最大效率大于98.8%；采用大尺寸彩屏液晶，以及精确的MPPT算法；实现4路MPPT接入。户外型IP65保护等级，支持RS485、WiFi、GPRS等多种通讯手段。

锦浪科技GCI-3P25K是目前潮电智库拆解系列中，电感、PCB板、连接器、变压器等国产件用得最多的逆变器产品。其中电感/变压器均由伊戈尔主供；PCB板、连接器分别由建滔和丰年科技供应。

散热器一直是日企的优势领域，GCI-3P25K美蓓亚供应了该器件；MOSFET则换庄自另一芯片大厂意法半导体；英飞凌、德州半导体、爱普科斯等则为逆变器核心结构件的老面孔。

 

 锦浪科技主要从事组串式逆变器研发、生产、销售和服务，主营业务为并网组串式逆变器和储能组串式逆变器，去年全球销量为94.23万台。

公司表示，作为最早进入国际市场的国内组串式并网逆变器企业之一，要始终坚持“国内与国际市场并行发展”的全球化布局，积极开拓英国、荷兰、澳大利亚、墨西哥、印度、美国等全球主要市场。数据显示，2022年锦浪科技海外营收占比55.26%。

今年第一季报锦浪科技延续增长态势，营收16.54亿元,同比上升50.09%；净利润3.24亿元,同比上升97.27%。

Supply chain analysis of JINLONG GCI-3P25K: Half Localization of Supply Chain with Inductors/Transformers Sourced from the Same Manufacturer

In a recent analysis conducted by Chao Dian , the focus was on the inverter industry, with the aim of showcasing the internal core components and cost distribution to pinpoint more accurate business opportunities for China's supply chain.

Following the supply chain analysis of inverters from prominent brands such as Sungrow, Growatt, GoodWe, and Enphase, the spotlight is now on Jinlong GCI-3P25K.

The Jinlong GCI-3P25K inverter is distinguished by its three-phase output, boasting an impressive maximum efficiency of over 98.8%. Equipped with a large-sized color LCD screen and precise MPPT algorithms, it also enables 4-channel MPPT access. With an IP65 outdoor protection rating, it supports various communication options, including RS485, WiFi, and GPRS.

Among the supply chain analysis series conducted by Chao Dian, the Jinlong GCI-3P25K inverter stands out as one of the most widely used products featuring domestically-produced components such as inductors, PCB boards, connectors, and transformers. The inductors and transformers are supplied by Igor, while Jiantao and Fengnian Technology provide the PCB boards and connectors, respectively.

Regarding heat dissipation, a domain wher Japanese companies have traditionally excelled, the GCI-3P25K utilizes heat sinks supplied by minebeamitsumi. The MOSFET is sourced from another major chip manufacturer, STMicroelectronics, while companies like Infineon, Texas Instruments, and Epcos provide other core structural components of the inverter.

 

Jinlong Technology is primarily engaged in the research, production, sales, and service of string inverters for grid-connected and energy storage applications, and their global sales volume reached an impressive 942,300 units last year.

The company emphasizes a "parallel development in both domestic and international markets" approach, and as one of the earliest domestic string inverter enterprises to enter the international market, Jinlong Technology is actively expanding its presence in major global markets, including the United Kingdom, the Netherlands, Australia, Mexico, India, and the United States. Notably, their overseas revenue accounted for 55.26% in 2022.

In the first-quarter report of this year, Jinlong Technology continued its growth momentum, achieving remarkable results with revenue reaching 1.654 billion yuan, marking an impressive year-on-year increase of 50.09%. Furthermore, their net profit surged to an impressive 324 million yuan, demonstrating a substantial year-on-year increase of 97.27%. These results underscore the company's robust position and potential in the competitive market.