
Chinese solar giant seeks $126.7 million in Hong Kong listing to fund diversification amid trade and supply chain pressures
Chinese renewable energy manufacturer Sungrow Power Supply Co. has filed for an initial public offering on the Hong Kong Stock Exchange, aiming to raise approximately $126.7 million through the sale of 338 million shares.
The listing is designed to strengthen its capital base for investment in next-generation solar and energy storage technologies while expanding production and research capabilities overseas.
The move highlights Sungrow’s growing pivot from its traditional inverter business toward broader energy solutions.
In the first half of 2025, Sungrow reported revenue of $6.1 billion, a year-on-year increase of around 40 percent, while net profit rose by roughly 56 percent.
For the first time, international markets accounted for 58 percent of total sales, surpassing domestic revenue.
The company’s energy storage systems business has surged, growing 127 percent year-on-year to $2.45 billion, and now makes up more than 30 percent of total revenue.
In contrast, the contribution of inverters has declined to about 35 percent.
In its prospectus, Sungrow cited “uncertainties associated with tariffs, international trade regulations, and geopolitical tensions” as key business risks.
Analysts say the Hong Kong listing will help diversify Sungrow’s access to global capital while reducing exposure to policy constraints linked to the ongoing U.S.–China trade dispute.
Industry observers view the IPO as part of a wider transformation among Chinese clean energy manufacturers.
Increasingly, companies are expanding beyond single-technology products into integrated renewable systems such as solar-plus-storage and hybrid energy plants.
Sungrow’s evolution mirrors this shift, positioning it as both a leading technology provider and a participant across multiple segments of the clean-tech value chain.
By securing funds in Hong Kong, Sungrow aims to accelerate its global manufacturing buildout and consolidate its position as one of the world’s foremost renewable technology companies amid a rapidly evolving market landscape.
The listing is designed to strengthen its capital base for investment in next-generation solar and energy storage technologies while expanding production and research capabilities overseas.
The move highlights Sungrow’s growing pivot from its traditional inverter business toward broader energy solutions.
In the first half of 2025, Sungrow reported revenue of $6.1 billion, a year-on-year increase of around 40 percent, while net profit rose by roughly 56 percent.
For the first time, international markets accounted for 58 percent of total sales, surpassing domestic revenue.
The company’s energy storage systems business has surged, growing 127 percent year-on-year to $2.45 billion, and now makes up more than 30 percent of total revenue.
In contrast, the contribution of inverters has declined to about 35 percent.
In its prospectus, Sungrow cited “uncertainties associated with tariffs, international trade regulations, and geopolitical tensions” as key business risks.
Analysts say the Hong Kong listing will help diversify Sungrow’s access to global capital while reducing exposure to policy constraints linked to the ongoing U.S.–China trade dispute.
Industry observers view the IPO as part of a wider transformation among Chinese clean energy manufacturers.
Increasingly, companies are expanding beyond single-technology products into integrated renewable systems such as solar-plus-storage and hybrid energy plants.
Sungrow’s evolution mirrors this shift, positioning it as both a leading technology provider and a participant across multiple segments of the clean-tech value chain.
By securing funds in Hong Kong, Sungrow aims to accelerate its global manufacturing buildout and consolidate its position as one of the world’s foremost renewable technology companies amid a rapidly evolving market landscape.







































