Chinese solar inverter and energy storage extensive Sungrow seeks Hong Kong IPO
Sungrow Energy Provide, the enviornment’s largest producer of solar inverters and energy storage programs, has joined a growing sequence of mainland Chinese corporations looking out out for to waft shares in Hong Kong, taking again of the city’s stock market state.
Based mostly mostly in Hefei, the capital of eastern Anhui province, Sungrow led the enviornment with 870 gigawatts of cumulative installed skill of inverters – devices that convert the energy produced by solar panels right into a layout of electricity that can also be consumed by homes and corporations – as of June 30, in step with its preliminary prospectus filed to the stock switch on Sunday, citing market researcher Frost & Sullivan. That gave the company a 25.2 per cent market fragment by global shipment quantity.
Sungrow used to be also the enviornment’s largest energy storage programs producer, with 70 gigawatt-hours of cumulative shipments as of June 30, and a 2024 global market fragment of 11.9 per cent.
“Our photovoltaic inverter products have maintained a main set up by strategy of global shipment volumes for 10 consecutive years,” Sungrow’s filing said. Founded in 1997, the firm used to be listed on the Shenzhen bourse in 2011.
The filing comes amid the Trump administration’s roll-out of present import tariffs on China-produced items, including solar energy and energy storage gear.
After present US-China replace negotiations, the efficient tariff on battery energy storage programs used to be lowered to 40.9 per cent in Might perchance maybe perchance additionally merely, but is expected to rise to 58.4 per cent from January 1, in step with replace media Energy Storage Records.
