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Will Sungrow Power Supply float shares in Hong Kong?

Sungrow Power Supply, the world’s largest producer of solar inverters and energy storage systems, has joined a growing number of mainland Chinese companies seeking to float shares in Hong Kong, taking advantage of the city’s stock market boom.

Does Sungrow Power Supply have a Hong Kong IPO?

More news here Sungrow Power Supply, based in Hefei, has filed for a Hong Kong IPO as more mainland Chinese firms look to tap into the city’s strong stock market performance.

Who makes Sungrow solar power systems?

The plan involves issuing H Shares. China International Capital Corporation Hong Kong Securities Ltd will manage the transaction, acting as an overall coordinator. Set up in 1997, Sungrow makes PV inverters, energy storage systems, wind power converters and transmission products, as well as power supply and charging equipment for electric vehicles.

Are solar inverters covered by tariffs?

While inverters are not directly covered by tariff increases, they constitute key components in the solar equipment supply chain. Trade of these devices is indirectly affected by steep tariffs imposed on imported Chinese-made products. Rows of solar inverters and energy storage systems made by Sungrow Power Supply.

How much is Sungrow's stock worth?

On September 30, the last trading day before the week-long National Day holiday, Sungrow's shares closed at 161.98 yuan. The company's stock has surged 125 per cent so far this year, giving it a market value of 336 billion yuan (US$47.2 billion).