Sungrow Power Supply submitted a fresh application to list its shares on the Hong Kong stock exchange on Friday, reviving an initial public offering (IPO) plan that was first announced last year [1]. The new application follows an earlier filing from October that lapsed before the latest submission [1].
The Shenzhen-listed company wants to use the Hong Kong listing to accelerate its globalization strategy and broaden its financing channels, aiming to support expansion beyond mainland China [1]. The funds raised are expected to be primarily used for research and development and for building overseas production bases [1].
Founded in 1997, Sungrow was listed on the Shenzhen stock exchange in 2011 [1]. It is a leading global supplier of solar photovoltaic (PV) inverters and energy storage systems, with operations spanning solar, wind, energy storage, electric vehicles, and hydrogen sectors [1].
Sungrow has held the top global market share for PV inverter shipments for a decade, with a market share exceeding 25% in 2024 [1]. The company's cumulative shipments of energy storage systems surpassed 93 gigawatt-hours by the end of 2025, reflecting significant scale in that segment [1].
On the same day Sungrow filed, a cluster of other mainland companies also submitted listing documents to the Hong Kong exchange, including Makesense Energy Technology and Befar Group [1].
The company’s new Hong Kong IPO application could pave the way for a listing that boosts capital raised to finance international expansion and technology investment. Further updates on the IPO timeline are expected as the listing process proceeds.
