In 2022, even against the backdrop of tight chip supply, significant price increases in the main photovoltaic industry chain, and fluctuations in supply and demand, China's inverter exports continued to increase significantly, demonstrating strong resilience. Overall, due to high electricity prices and energy shortages overseas, as well as the vast majority of global production capacity owned by Chinese photovoltaic companies, the volume and price of the photovoltaic overseas market in 2022 have increased, especially in Europe where the photovoltaic market has grown by over 150%. The Indian market has steadily grown, while emerging markets such as Brazil and South Africa have developed beyond expectations, bringing new growth momentum to Chinese inverter companies. Chinese inverter products still dominate the global inverter market, and there is still a steady upward trend in market share. At the same time, domestic inverter companies are constantly shifting their business focus to overseas markets, with a significant increase in their overseas shipments, such as Sunshine Power, Huawei, Jinlang, Guliwat, Goodway, etc. And due to domestic photovoltaic companies expanding their power station development and EPC business overseas, it has also led to a significant increase in the export of inverters. On the other hand, with the intensification of international competition, the evolution of foreign trade barriers and local manufacturing support policies may have an impact on China's photovoltaic manufacturing industry in the future.