A-Share Solar Giant Officially Submits Application to HKEX.
On October 5, Sungrow Power Supply Co., Ltd. (300274) submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation (601995) as the exclusive sponsor.
Sungrow Power Supply (300274) previously announced on August 25 that, to deepen the company's global strategic layout, enhance its international brand image, create diversified financing channels, and further strengthen its core competitiveness, the company plans to issue overseas listed foreign shares (H-shares) and apply for a listing on the Main Board of the Hong Kong Stock Exchange.
On October 1, the company released the announcement of the resolution of the second interim shareholders' meeting of 2025. The shareholders' meeting held on September 30 reviewed and approved the "Proposal on the Company's Issuance of H-Shares and Listing on the Hong Kong Stock Exchange."
Unlike integrated component manufacturers, due to differences in business structure, Sungrow Power Supply was one of the few companies in the photovoltaic industry to achieve counter-trend growth in the first half of this year. According to Sungrow, the main contributions to profitability came from photovoltaic inverters, energy storage business, and new energy investment development.
It is reported that the funds raised from the H-share issuance will be used for R&D purposes, including investment in the development of next-generation photovoltaic and energy storage products, as well as the construction and upgrading of R&D centers; for building production bases overseas; for accelerating digital and intelligent construction to empower business development; and for working capital and other general corporate purposes.
Recently, Sungrow Power Supply's performance in the secondary market has been quite remarkable, with the company's stock price continuously rising. In September, the cumulative increase exceeded 62%, and the total market capitalization surpassed 330 billion yuan.
