On October 15, Sungrow announced that the company will issue global depositary receipts (GDR) overseas and plans to list them on the Frankfurt Stock Exchange in Germany. (hereinafter referred to as "Deutsche Börse").

At the same time, the company will also plan to raise a total amount of funds (including issuance fees) of no more than 4.88 billion yuan, which will be used for 20GWh advanced energy storage equipment manufacturing projects, overseas inverter equipment and energy storage product expansion projects, digital improvement projects, and Nanjing R&D centers construction projects.

As of 2023, in the photovoltaic industry, Sungrow's photovoltaic inverter business has a global market share of 23%, ranking second in the world after Huawei. In the energy storage industry, energy storage systems have shipped 10.5GWh, achieving revenue of 17.8 billion Yuan, ranking first among Chinese companies for eight consecutive years, and ranking first in the world in terms of market share in the global energy storage system field.

In 2009, Sungrow's overseas revenue was 15 million yuan, accounting for 8.37% of the overall revenue. By 2023, its overseas revenue has reached 33.369 billion yuan, a year-on-year increase of 75.05%, and its revenue proportion has increased to 46.19%. In the first half of 2024, the company achieved overseas revenue of 13.476 billion yuan, accounting for 43.44%.

Source：hxny