SolarMax Technology, Inc.

General Information

We are an integrated solar energy company, incorporated in Nevada. We were founded in 2008 to conduct business in the United States and subsequently commenced operation in China following two acquisitions in 2015. We operate in two segments – the United States operations and the China operations. We are a holding company, with our United States operations conducted by our United States subsidiaries, and our China operations by our Chinese subsidiaries, which operate separately from our United States operations. 

Our United States operations primarily consist of (i) the sale and installation of photovoltaic and battery backup systems for residential and commercial customers, (ii) financing the sale of its photovoltaic and battery backup systems, and (iii) sales of LED systems and services to government and commercial users.

Our China operations, which are conducted by our wholly owned subsidiaries, consist primarily of identifying and procuring solar farm projects for resale to third parties and performing engineering, procuring and construction (“EPC”) services primarily for solar farm projects. Although we are a Nevada corporation with significant operations in the United States, through our PRC subsidiaries, we conduct business in China and our China business is subject to Chinese law. There are legal and operational risks associated with having operations in China. See “Risk Factors” beginning on Page 22 of the prospectus.

(Note: SolarMax Technology cut the size of its IPO by 40 percent to 4.5 million shares – down from 7.5 million shares – and kept the assumed IPO price at $4.00 – to raise $18.0 million, in an S-1/A filing dated July 6, 2023.)

(Note: SolarMax Technology filed an S-1/A dated Jan. 19, 2023, in which it changed the IPO’s sole book-runner to Kingswood from ViewTrade; the terms remained the same. Background: SolarMax Technology filed confidential IPO paperwork on May 16, 2022. This IPO was revived a December 2018 filing, which was withdrawn in October 2020.)


Employees: 126
Founded: 2008
Contact Information
Address 3080 12th Street Riverside, California 92507
Phone Number (951) 300-0788
Web Address
View Prospectus: SolarMax Technology, Inc.
Financial Information
Market Cap $168.0mil
Revenues $39.65 mil (last 12 months)
Net Income $-2.87 mil (last 12 months)
IPO Profile
Symbol SMXT
Exchange NASDAQ
Shares (millions): 4.5
Price range $4.00 - $4.00
Est. $ Volume $18.0 mil
Manager / Joint Managers Kingswood Capital Markets
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change