SolarMax Technology, Inc. SMXT

What this company does

Since the third quarter of 2025, its primary business has been negotiating contracts and performing EPC services for solar-based BESS commercial systems. Prior to the third quarter of 2025, its primary business was the sale and installation of photovoltaic and battery backup systems for residential and commercial customers, and sales of LED systems and services to government and commercial users. In 2015, the Company commenced operations in the PRC, and it engaged in business in China through 2021. In March 2024, the Company issued 5,039,950 shares of common stock in its initial public offering at a public offering price of $4.00 per share, less a 6% underwriting discount, pursuant to an underwriting agreement with Kingswood, a division of Kingswood Capital Partners, LLC, as representative of the underwriters. On March 15, 2026, the Company had 72 employees in the United States, of which five were executives, 24 were in sales and marketing, 31 were in operations and installation and 13 were in accounting and administrative, and it had seven employees in China, of which one was an executive, and six were in accounting and administrative.

Written from the business description in SolarMax Technology, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 6 April 2026. Every sentence was checked against that document before publication.