Sungrow Power Supply Set to Raise $127M in Hong Kong IPO

Sungrow's Hong Kong listing will boost funds for next-gen solar and storage tech. The company's growing focus on energy storage reflects the market's demand for clean energy solutions.

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2025 October 8 . 5:22 PM

1 min read

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Sungrow Power Supply Set to Raise $127M in Hong Kong IPO

Sungrow Power Supply, a global leader in photovoltaic inverters, has announced plans to expand its listings to the Hong Kong Stock Exchange. This move follows a previous announcement in October 2024 to list on the Frankfurt Stock Exchange via Global Depositary Receipts (GDRs), with China International Capital Corporation (CICC) serving as the sole sponsor.

The company aims to raise approximately HK$987 million ($127 million) by issuing 338 million shares. Proceeds will be allocated to research and development of next-generation photovoltaic and energy storage products, overseas manufacturing bases, digital transformation, and core technology development. Sungrow's dual-listing strategy seeks to support global expansion, enhance international brand visibility, diversify funding sources, and strengthen competitiveness.

Sungrow's revenue from energy storage systems overtook that of power electronic conversion equipment for the first time in the first half of 2025. This shift reflects the company's growing focus on energy storage solutions. Additionally, Sungrow's overseas revenue surpassed that of mainland China in the same period, indicating a significant global presence. Hong Kong's attractive investment environment, particularly for battery and energy storage companies, has drawn Sungrow to list there.

Sungrow Power Supply's listing on the Hong Kong Stock Exchange is expected to raise substantial funds for the company's expansion and development. The listing aligns with Sungrow's strategic goals and reflects the company's growing global influence in the renewable energy sector.