Erayak Power Solution Group Inc.

General Information

Erayak Power Solution Group Inc. was formed in 2019 under the laws of the Cayman Islands. We conduct business primarily through our wholly owned subsidiaries, Zhejiang Leiya and Wenzhou New Focus, in the People’s Republic of China, or the PRC. Our company specializes in the manufacturing, research and development (“R&D”), and wholesale and retail of power solution products. Zhejiang Leiya’s product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products. Our products are customized and built to order, or BOT. Our BOT business model maximizes our flexibility in production scheduling, material procurement and delivery to meet our customers’ unique demands.

Our products are used principally in agricultural and industrial vehicles, recreational vehicles (“RVs”), electrical appliances and outdoor living products. Our primary office is located in Zhejiang province, where we serve a large customer base throughout PRC and expand our reach to international clients. Our goal is to be the premier power solutions brand and a solution for mobile life and outdoor living. We seek to leverage our flexibility and passion for quality to provide a personalized mobile living solution for each customer.

Since the founding of Zhejiang Leiya in 2009, it has grown to be a manufacturer that not only designs, develops and mass produces our own brand of premium power solution products, but has also established e-commerce channels in the retail chain. We, through our PRC subsidiaries, also offer our products in Japan, England, Germany, France, Spain, Switzerland, Sweden, the Netherlands, the U.S., Canada, Mexico, Australia, Dubai and nine other countries. Zhejiang Leiya manufactures all of our products in factories operating under quality management systems accredited by the International Organization for Standardization (ISO 9001:2015).

We generated revenue mostly from three types of products: (1) inverters constituted approximately 82% and 86% of our total revenue for the fiscal years ended December 31, 2021, and 2020, respectively; (2) chargers, which generated approximately 7.52% and 7.39% of our total revenue for the fiscal years ended December 31, 2021, and 2020, respectively; (3) gasoline generators generated approximately 8.28% and 4.91% of our total revenue for the fiscal years ended December 31, 2021, and 2020, respectively.

**Note: Revenue and net income are in U.S. dollars for the fiscal year ended Dec. 31, 2021.

(Note: Erayak Power Solution Group filed its F-1 on Jan. 21, 2022, following its confidential IPO paperwork filing on Aug. 2, 2021.)

Industry: Motors & Generators
Employees: 120
Founded: 2009
Contact Information
Address No. 528, 4th Avenue Binhai Industrial Park Wenzhou, Zhejiang Province People’s Republic of China 325025
Phone Number +86-577-86829999
Web Address
View Prospectus: Erayak Power Solution Group Inc.
Financial Information
Market Cap $60.0mil
Revenues $18.63 mil (last 12 months)
Net Income $3.39 mil (last 12 months)
IPO Profile
Symbol RAYA
Exchange NASDAQ
Shares (millions): 3.0
Price range $4.00 - $6.00
Est. $ Volume $15.0 mil
Manager / Joint Managers Prime Number Capital/ Shengang Securities
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change