Sungrow

PublicSZSE: 300274Founded 1997🇨🇳Hefei, Anhui, ChinaCEO Cao Renxian

Sungrow is the company that turns batteries into a working power plant, and in 2026 Wood Mackenzie ranked it first in the world among battery energy storage system integrators, ahead of Tesla and CATL.

Batteries & Energy Storage

Latest update Oct 5, 2026

Overview

Founded in 1997 in Hefei by former university lecturer Cao Renxian, who remains chairman and president, it built its business on solar inverters and then applied the same power-electronics expertise to grid storage. Storage overtook inverters as its largest business in 2025: energy storage system revenue rose 49.4% to RMB37.29B, or 41.8% of a company total of RMB89.18B, on shipments of 43 GWh. Growth reversed through H1 2026: revenue fell 28.99% year over year to RMB30.91B and net profit fell 32.01% to RMB5.26B, though storage revenue crossed 50% of sales and H1 storage shipments rose 28% to 25 GWh against a 60 GWh full-year target. Its flagship PowerTitan 3.0 platform remains the utility-scale core. After unveiling PowerMatrix and PowerHarbor in June 2026, Sungrow brought PowerHarbor to Benelux homes at an Amsterdam event on 23 September 2026 and, on 17 September, signed a framework with be.storaged GmbH for a planned 1.6 GWh of German BESS projects using PowerTitan 3.0. It refiled for a Hong Kong listing on 24 April 2026 to fund overseas manufacturing, including Poland and Egypt (Egypt operations June 2027). As of 5 October 2026 the April application proof remains the posted HKEX document, with no pricing, prospectus registration, or third filing located, so the roughly 24 October six-month window is still open. The 29 September Cambodia EDC Kandal Stueng 108.4 MW / 215.6 MWh grid-forming acceptance is already on the timeline. Shares were about RMB82.49 on 30 September 2026, putting market cap near RMB170B, below the April refiling level.

www1.hkexnews.hkUpdated Oct 5, 2026

What's next9

All milestones

2026
Complete the Hong Kong listing
The application refiled on April 24, 2026 carries a six-month validity, so Sungrow needs to price the deal by around October 2026 or file a third time. Proceeds are earmarked for overseas manufacturing - including new storage factories in Poland (under construction, targeting H1 2027 operation) and Egypt (operations now June 2027) - plus solid-state battery R&D and the new AI-data-center power business. No pricing date had been announced as of September 15, 2026.
saurenergy.com
2026
Scale grid-forming storage across Europe
The January 2026 Madrid launch put the grid-forming PowerTitan 3.0 in front of European utilities that increasingly need inertia and black-start services, not just energy arbitrage. Sungrow forecasts delivering 10 GWh of PowerTitan 3.0 across Europe in 2026 and won The smarter E AWARD 2026 for the platform, the only Chinese brand to win in the storage category.
energy-storage.news
2026
Navigate the new US inverter import ban
Following the FCC's July 28, 2026 ban on new imports of Chinese-made grid-connected power inverters, the agency updated its Covered List on August 20, 2026 to exclude inverters eligible for the US Section 45X domestic-manufacturing tax credit. At the H1 briefing Sungrow said it expects a gradual US pullback and is shifting resources to other regions; on September 9, 2026 it was reported to be sourcing Samsung SDI cells so it can keep supplying US storage systems without building a US factory. Existing approved inverter models remain legal to import, but management is treating the US as a shrinking, higher-risk market.
pv-magazine.com
2026-2027
Deliver first AI data center power systems under EnerNeo framework agreements
Following EnerNeo's July 2026 launch, Sungrow said at its H1 briefing that commercial shipments of the solid-state transformers have begun, with about 2 GWh of firm AIDC storage orders and a pipeline above 10 GWh. Framework agreements with HEC Technology (30 MW) and ZDATA (100 MW) remain the named customer anchors; management now expects robust AIDC growth starting in 2027 or 2028 rather than a large 2026 revenue contribution.
energy-storage.news
Q4 2026
Develop solid-state batteries with Jinghe Energy
Jinghe Energy and Sungrow New Energy formally signed their strategic cooperation agreement on April 20, 2026, targeting sulfide-coated electrode materials at 800 Wh/kg energy density for intelligent vehicles, power storage, and eVTOL applications. First-batch engineering samples are targeted to complete vehicle-loading tests in Q4 2026; Jinghe separately aims for large-scale all-solid-state production capacity in 2027.
eu.36kr.com

Year-end 2026
Ship more than 60 GWh of energy storage in 2026
Sungrow targets over 60 GWh of storage shipments this year, up more than 40% on 2025's 43 GWh. H1 2026 shipments reached 25 GWh, up about 28% year over year, so the company needs roughly 35 GWh in the second half to hit the target. Q1 was 11.4 GWh; the H1 print implies a stronger Q2 and keeps the full-year goal within reach if overseas demand holds.
pv-magazine.com
Jun 2027
Bring new Poland and Egypt storage factories online
Sungrow is building its first two overseas manufacturing plants: a EUR230M, 20 GW-inverter/12.5 GWh-storage facility in Poland's Walbrzych Special Economic Zone (announced February 2026, targeted for completion within about a year), and a $50M, 10 GWh-per-year storage factory in Egypt's Suez Canal Economic Zone that broke ground on August 17, 2026. A September 3, 2026 company release set Egypt operations for June 2027, later than the April 2027 completion target given at groundbreaking, with initial output earmarked for a 4 GWh supply to Scatec's Sustainable Energy Valley project in Minya. Together they are Sungrow's first manufacturing bases in Europe and in the Middle East/Africa, aimed at derisking supply from trade barriers facing Chinese-made hardware.
prnewswire.co.uk
2027
Supply 4 GWh of storage to Egypt's Sustainable Energy Valley
Sungrow said on September 3, 2026 that the first output from its Egypt factory will support the Sustainable Energy Valley project in Minya Governorate, jointly developed by the Egyptian government and Norway's Scatec, with Sungrow supplying 4 GWh of energy storage systems. Timing is tied to the factory beginning operations in June 2027.
prnewswire.co.uk
H1 2028
Bring the Observatorio hybrid project in Chile online
Verano Energy awarded Sungrow the battery storage contract, reported August 12, 2026, for its 152 MW / 606 MWh Observatorio hybrid project in Chile's O'Higgins region, pairing PowerTitan 2 storage units and SG350HX-20 inverters with a 135 MW solar array under a 25-year service agreement. Chilean utility Copec EMOAC is the offtaker, with commercial operation targeted for the first half of 2028.
energy-storage.news

Latest news8

All news

Sep 202026
Sungrow signs 1.6 GWh German storage framework
Sungrow Deutschland and be.storaged signed a two-year framework on September 18 to deliver large-scale battery storage in Germany with a planned pipeline of 1.6 GWh. be.storaged will handle development, procurement, construction, and operations, while Sungrow supplies PowerTitan 3.0 systems that pack a 1.78 MW converter and 7.14 MWh of batteries in a 20-foot container, scalable to 28.5 MWh. The agreement extends an existing partnership rather than naming a single contracted site.
PR Newswire (Sungrow)
Sep 202026
Sungrow suppresses wideband oscillation at 500 MW plant
Sungrow said September 17 it reproduced and suppressed wideband oscillation at a 500 MW solar-plus-storage plant in Qinghai, calling it the first controlled field demonstration of the phenomenon at that scale. The company's inverters identified grid strength within 40 milliseconds and used grid-forming control across a short-circuit-ratio range of 1 to 40. Sungrow said the test is meant to keep weak-grid plants from disconnecting, citing past Hornsea and BorWin1 oscillation events.
PR Newswire (Sungrow)
Sep 142026
Sungrow raises inverter and storage prices up to 15%
Sungrow will raise list prices 5% to 15% on solar inverters and energy storage products from September 20, its second increase this year, citing copper, aluminum and component costs. String, modular and matrix inverters plus storage PCS and PT/PS systems rise 5% to 10%; medium-voltage grid inverters and integrated PCS rise 10% to 15%. Orders signed before September 20 keep existing contract terms.
pv magazine
Sep 82026
Sungrow launches MGTL hybrid inverters for homes
Sungrow announced the MGTL series of three-phase hybrid inverters on September 7, 2026, covering 10 kW to 25 kW for homes and businesses across Southeast Asia, Africa, Latin America and other markets. The units combine solar and storage, claim 0 ms switching between grid-tied and off-grid modes, and add AFCI 3.0R arc-fault detection plus an IP66 rating. They pair with Sungrow's MBL120 and MBL160 batteries and selected third-party packs through the iSolarCloud platform.
PR Newswire (Sungrow)
Sep 12026
Sungrow's H1 2026 profit falls nearly a third
Sungrow reported H1 2026 revenue of RMB30.91 billion, down 28.99% year over year, and net profit of RMB5.26 billion, down 32.01%, extending a reversal that began in Q1 as falling storage prices and intensifying competition squeezed margins. Energy storage revenue held up better than the company overall at RMB15.46 billion (down 13.18%), crossing 50% of total revenue for the first time as PV inverter sales fell even further; shares dropped as much as 8.4% in Shenzhen on August 31 to a one-year low.
EnergyTrend AllWeatherFinance

Products6

Key metrics

Employees: 19,006; as of Dec 31, 2025, per the 2025 Annual Report filed April 2026
Est. annual revenue: RMB89.18B; (~$12.5B) in FY2025, up 14.55%, with net profit of RMB13.46B, up 21.97%; H1 2026 revenue fell 28.99% YoY to RMB30.91B and net profit fell 32.01% YoY to RMB5.26B amid falling storage prices and intensifying competition
Global BESS integrator rank: Number one worldwide in Wood Mackenzie's 2025-performance ranking (restated Aug 2026), ahead of Tesla and CATL
PV inverter market share: ~25.2% globally; tied with Huawei for first in Wood Mackenzie's 2026 ranking; sole No.1 by 2025 shipments per S&P Global, reconfirmed in a further S&P Global release Aug 9-10, 2026
FY2025 revenue: RMB89.18B, up 14.55%; net profit RMB13.46B, up 21.97%
H1 2026 revenue and profit: RMB30.91B revenue, down 28.99% YoY; RMB5.26B net profit, down 32.01% YoY, extending the Q1 reversal
H1 2026 storage share of revenue: RMB15.46B, down 13.18% YoY but crossed 50% of total revenue for the first time as PV inverters fell further
2025 storage shipments: 43 GWh, up 53.6%; overseas 36 GWh, up 89%; domestic 7 GWh, down 22%
H1 2026 storage shipments: 25 GWh, up about 28% year over year; the H1 checkpoint against the 60+ GWh full-year target
H1 2026 inverter shipments: About 66 GW, down from 76 GW a year earlier
Storage share of revenue: RMB37.29B, up 49.4%, or 41.8% of total; now larger than the inverter business
Cumulative storage shipped: >93 GWh as of December 31, 2025
FY2026 management guidance: Given at the March 31, 2026 annual-results briefing: revenue target RMB110-120B, net profit target RMB17-19B (up 26%-41%), storage shipments over 60 GWh aiming for a top-2 global ranking by volume
Market cap: ~RMB170B as of 2 October 2026; (stockanalysis 169.97B; SHE:300274 last 82.49 on 30 September 2026), down from ~RMB175B on 14 September and ~RMB277.4B at the April Hong Kong refiling

Operations & revenue

Operating status

Operational - profitable but growth cooling; storage-led and expanding overseas

Sungrow remains profitable on FY2025 results but is still working through the H1 2026 contraction. As of 5 October 2026 the Hong Kong A+H application refiled 24 April 2026 has not been priced or replaced; the HKEX application proof is still a draft. Market cap was about RMB170B as of early October 2026. PowerHarbor is now on sale in Benelux after the 23 September Amsterdam launch, and Sungrow has a 1.6 GWh German BESS framework with be.storaged. The Cambodia Kandal Stueng 108.4 MW / 215.6 MWh plant completed acceptance on 29 September. Poland and Egypt factories remain the overseas-manufacturing test, with Egypt operations still set for June 2027.

Revenue streams

Energy storage systems
Fully integrated grid-scale storage: batteries, liquid cooling, power conversion and controls, sold as containerised systems to utilities and developers. RMB37.29B in 2025, up 49.4%, and now the largest business at 41.8% of revenue.
PV inverters
String and central inverters for utility-scale, commercial and residential solar. Sungrow has led global inverter shipments for ten consecutive years with roughly a quarter of the market, and Q1 2026 shipments rose 30% quarter on quarter.
Renewable power plants and services
New-energy investment and development, EPC work and long-term operations and maintenance, including landmark projects such as the world's largest floating solar farm at Huainan.
AI data center power systems
New business line launched July 2026: EnerNeo solid-state transformers and an 800V DC power architecture for AI data centers. Commercial shipments have begun as of the H1 2026 briefing, with about 2 GWh of firm AIDC storage orders and a pipeline above 10 GWh, alongside framework agreements with HEC Technology (30 MW) and ZDATA (100 MW).

Track record

How past announced dates turned out.

1/3announced dates hit on time

1 Hit
2 Slipped
0 Missed

Slipped
Bring the Egypt storage factory online by April 2027
Target April 2027 · Resolved Sep 3, 2026
The August 17, 2026 groundbreaking targeted completion by April 2027. A September 3, 2026 Sungrow release set operations to begin in June 2027 instead, with first output supporting a 4 GWh supply to Scatec's Sustainable Energy Valley project in Minya.
Original target Outcome
Slipped
Complete a Hong Kong listing off the October 2025 application
Target H1 2026 · Resolved Apr 24, 2026
The application filed on October 5, 2025 was never priced and lapsed automatically on April 5, 2026 when its six-month validity expired. Sungrow refiled with HKEX on April 24, 2026, restarting the clock on an A+H listing intended to fund overseas manufacturing.
Original target Outcome
Hit
Launch the PowerTitan 3.0 storage platform in 2025
Target 2025 · Resolved Jun 30, 2025
The full PowerTitan 3.0 portfolio launched in June 2025 and went straight to commercial availability across 10-, 20- and 30-foot formats, contributing to 43 GWh of storage shipments for the year and reaching Europe as a grid-forming product by January 2026.
Original target Outcome

Timeline28

2026
1. PowerHarbor launched in Benelux homes
  On 23 September 2026 Sungrow hosted a Master Home Energy Dynamics event in Amsterdam and brought PowerHarbor, its all-in-one residential ESS, to the Benelux market for the first time. A 28 September PR Newswire release said the system is now available in the Netherlands, Belgium, and Luxembourg. The same event showcased PowerKeeper modular C&I storage and MiniCube, a 3.68 kW / 5-10 kWh micro storage unit for smaller homes.
2. 1.6 GWh German BESS framework with be.storaged
  On 17 September 2026 Sungrow Deutschland GmbH and be.storaged GmbH signed a framework agreement to jointly deliver large-scale German battery storage projects with a planned pipeline of 1.6 GWh over the next two years. Sungrow said it will increasingly deploy PowerTitan 3.0 (1.78 MW PCS with 7.14 MWh in a 20-foot container, scalable to 28.5 MWh). This is a planned pipeline, not booked revenue.
3. Completes 108.4 MW Cambodia grid-forming BESS
  On September 29, 2026 Sungrow said it completed grid connection and full acceptance testing of the 108.4 MW / 215.6 MWh EDC Kandal Stueng station (GS79) battery system in Takmao, Kandal Province. It said 516 grid-forming PCS units energized the plant from zero voltage and supported restoration of about 240 km of transmission lines and five substations.
4. Egypt factory ops date set for June 2027; 4 GWh Scatec offtake named
  On September 3, 2026, Sungrow said its 10 GWh-per-year energy storage factory in Egypt's Suez Canal Economic Zone is now scheduled to begin operations in June 2027, later than the April 2027 completion target given at the August 17 groundbreaking. Initial output will support the Sustainable Energy Valley project in Minya Governorate, a joint Egyptian government and Scatec development, with Sungrow supplying 4 GWh of storage systems. The same release said Sungrow had supported commissioning of Abydos Phase II in Aswan, supplying 1.2 GW of PV and 720 MWh of storage toward what would be Africa's largest single-site solar-plus-storage project.
5. Raises inverter and storage list prices 5% to 15%
  On September 14, 2026, pv magazine reported that Sungrow will raise prices 5% to 15% across solar inverters and energy storage products from September 20, its second adjustment this year. String, modular and matrix inverters plus storage PCS and PT utility-scale and PS commercial and industrial systems rise 5% to 10%; medium-voltage grid-connected inverters and integrated PCS rise 10% to 15%. Orders signed and formally placed before September 20 keep existing contract terms. Sungrow cited unexpected upstream material costs, with a storage-business manager pointing to copper and aluminum prices.
6. Turns to Samsung SDI cells to keep supplying the US storage market
  On September 9, 2026, pv magazine reported that Sungrow plans to procure battery cells from South Korea's Samsung SDI for its energy storage systems, primarily to support US deliveries, after saying it has no current plan to build a US factory. Volumes, manufacturing locations, and commercial terms were not disclosed. The move follows management's H1 briefing that it expects a gradual US pullback amid FCC inverter rules and a presidential executive order on high-voltage power equipment.
7. H1 storage shipments hit 25 GWh as storage tops 50% of sales
  Sungrow's August 28, 2026 half-year report showed H1 storage shipments of 25 GWh, up about 28% year over year, even as storage revenue fell 13.2% to RMB15.46B and crossed 50% of total sales for the first time. Inverter shipments fell to about 66 GW from 76 GW a year earlier, overseas markets accounted for 73.4% of revenue, and management said EnerNeo solid-state transformers had begun commercial shipments, with about 2 GWh of firm AI-data-center storage orders and a pipeline above 10 GWh.
8. Launches MGTL three-phase hybrid inverters
  On September 7, 2026, Sungrow launched the MGTL series of 10-25 kW three-phase hybrid inverters for homes and businesses in Southeast Asia, Africa, Latin America and other markets. The line combines solar and storage, claims 0 ms grid-to-backup switching, AFCI 3.0R arc-fault detection and an IP66 rating, and pairs with Sungrow MBL120 and MBL160 batteries plus selected third-party packs via iSolarCloud.

2026
1. H1 2026 results show continued double-digit decline
  Reported August 31, 2026: H1 2026 revenue fell 28.99% year over year to RMB30.91B and net profit fell 32.01% to RMB5.26B, extending the Q1 reversal through the first half. Energy storage revenue was RMB15.46B, down 13.18% but a smaller drop than the company overall, so storage crossed 50% of total revenue for the first time as PV inverter sales fell even further; shares dropped as much as 8.4% in Shenzhen on August 31 to a one-year low.
2. Commissions grid peak-shaving storage plant with AI trading system in Hefei
  Reported August 24, 2026: subsidiary Sungrow Renewables commissions a 200 MW/400 MWh grid-scale storage plant in Hefei using the PowerTitan 3.0 liquid-cooled system (600 Ah-plus stacked cells), paired with Sungrow's self-developed PowMart power-trading decision-support software, which uses AI-based electricity-price forecasts to generate spot-market bidding strategies. The plant supports peak-shaving for wind and solar generation in central Anhui.
3. Breaks ground on first Middle East/Africa storage factory, in Egypt
  On August 17, 2026, Sungrow holds a groundbreaking ceremony for a $50M, 10 GWh-per-year energy storage system factory in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone at Ain Sokhna, just seven months after signing the land and cooperation agreements in January 2026. It is Sungrow's first ESS manufacturing base in the Middle East and Africa and the region's first dedicated ESS factory, targeting completion by April 2027.
4. First European factory announced, in Poland
  Sungrow announces its first factory outside Asia: a EUR230M plant in the Walbrzych Special Economic Zone in Poland, covering 65,400 sqm with planned annual capacity of 20 GW of PV inverters and 12.5 GWh of energy storage systems, expected to create about 400 jobs.
5. Launches PowerHarbor residential storage system
  At Intersolar Europe 2026 (June 23), Sungrow launches PowerHarbor, an all-in-one residential ESS with modular 6-10 kWh battery blocks stackable up to 120 kWh, entering the home-battery segment alongside its grid-scale and inverter businesses.
6. Launches PowerMatrix, a new integrated PV-storage inverter category
  At SNEC 2026 (June 3) in Shanghai, Sungrow unveils PowerMatrix, merging PV inverter, storage converter, energy routing and grid control into a single 'core energy node' for combined solar-plus-storage plants, with up to 28 MPPTs per MW and a pitch of over 10% lower balance-of-system costs at gigawatt scale.
7. Reconfirmed No.1 in Wood Mackenzie and S&P Global 2025 rankings
  On August 4, 2026, Wood Mackenzie's restated full-year-2025 rankings place Sungrow first in both its Global BESS Integrator Comprehensive Ranking (ahead of Tesla and CATL) and its Global Solar Inverter Manufacturer Ranking (tied with Huawei). On August 10, 2026, S&P Global separately names Sungrow the No.1 PV inverter supplier by 2025 shipments.
8. FCC bans new US imports of Chinese-made grid inverters
  On July 28, 2026, the US FCC issues a rule banning new imports of Chinese-made, grid-connected power inverters, citing undocumented components including cellular radios that officials say could enable remote access or grid disruption. Sungrow is named alongside Huawei among the affected Chinese inverter makers, closing off new US sales of a product line it had already been deprioritizing in favor of overseas storage growth. Amid threat reports ahead of the ban, Sungrow shares plunged as much as 20% intraday in early July and lost more than $14.8B of market value over the following month; on July 21, 2026 chairman Cao Renxian proposed a RMB500M-1B share buyback for equity incentives as a defensive measure.
9. Launches EnerNeo solid-state transformer for AI data centers
  On July 9-10, 2026, Sungrow unveils EnerNeo, a self-developed commercial solid-state transformer offering a full-stack 800V DC power architecture for AI data centers, at 98.5% peak efficiency, 50% smaller footprint than conventional equipment, and 1.5-4.5 MW per unit. Sungrow signs framework procurement agreements with HEC Technology (30 MW) and ZDATA (100 MW), marking its entry into AI data center power infrastructure beyond solar and storage.
10. Jinghe Energy solid-state battery agreement formally signed
  On April 20, 2026, Jinghe Energy and Sungrow New Energy sign a formal strategic cooperation agreement to develop solid-state batteries using sulfide-coated electrode materials targeting 800 Wh/kg energy density, for intelligent vehicles, power energy storage, and eVTOL applications.
11. Q1 2026 results show sharp reversal
  Reported April 27-28, 2026: revenue fell 18.26% year over year to RMB15.56B and net profit fell 40.12% to RMB2.29B, missing analyst estimates, as gross margin dropped 1.8 points to 33.3% on falling energy storage prices, softer domestic PV inverter demand following China's May 2025 'New Policy 531,' and a deliberate pullback from power-plant development. Storage shipments (11.4 GWh) were slightly down year over year, a headwind against the full-year 60+ GWh target.
12. Ranked the world's number one BESS integrator
  Wood Mackenzie's inaugural comprehensive global BESS integrator ranking, published July 2026, places Sungrow first, ahead of Tesla and CATL, scoring technology maturity, R&D, safety, vertical integration, supply-chain resilience, ESG and financial strength. Annual global battery storage installations passed 100 GW for the first time in 2025.
13. Hong Kong listing refiled; solid-state venture with Jinghe
  The October 2025 Hong Kong application lapses after its six-month validity expires on April 5, 2026, and Sungrow refiles on April 24 at a market capitalisation of about RMB277.4B ($40.65B). It also partners with Jinghe Energy to develop solid-state batteries.
14. Record 2025 results: RMB89.18B revenue, 43 GWh shipped
  Full-year 2025 revenue rises 14.55% to RMB89.18B with net profit up 21.97% to RMB13.46B. Storage revenue jumps 49.4% to RMB37.29B (41.8% of the total) on 43 GWh of shipments, with overseas volumes up 89% to 36 GWh while domestic shipments fall 22% as Sungrow retreats from low-margin Chinese projects.
15. Grid-forming PowerTitan 3.0 launched in Europe
  On January 29, 2026 in Madrid, Sungrow launches a grid-forming version of PowerTitan 3.0 for European utilities: 1.78 MW and 7.14 MWh in a 20-foot container, 7.2 MW / 28.5 MWh per AC block, 92% round-trip efficiency, 2 to 8 hour duration, 20-millisecond reactive power response and gigawatt-scale black-start capability.
2025
1. Storage overtakes inverters; first Hong Kong IPO filing
  Energy storage revenue passes PV inverters for the first time, and in October Sungrow files for a Hong Kong listing to fund overseas expansion, aiming for an A+H share structure.
2. PowerTitan 3.0 platform launched
  In June 2025 Sungrow releases the PowerTitan 3.0 platform in 10-foot Flex (3.45 MWh), 20-foot Class (6.9 MWh) and 30-foot Plus (12.5 MWh) versions supporting 2 to 12 hours of duration, built on up to 684 Ah stacked cells with a fully liquid-cooled silicon-carbide power conversion system at up to 99.3% efficiency.
2024
1. Becomes the world's most valuable solar company
  Sungrow overtakes LONGi Green Energy in market value in March 2024, and reaches roughly 14% of the global battery storage market as China's storage buildout accelerates.
2011
1. Lists on the Shenzhen Stock Exchange
  Sungrow goes public on Shenzhen's ChiNext board in November 2011 under ticker 300274, funding the expansion that makes it the world's largest inverter supplier.
1997
1. Founded in Hefei on personal savings
  Cao Renxian, a lecturer at Hefei University of Technology, leaves academia and starts Sungrow with his own savings and borrowed capital to build renewable-energy power electronics.

Funding

RoundAmountInvestors

IPO (Shenzhen ChiNext)
Nov 2011
IPO
Public markets (SZSE: 300274)
Hong Kong listing (filed)
Apr 2026
Pending
Application refiled with HKEX on April 24, 2026 after the October 2025 filing lapsed; CICC is sponsor. As of 5 October 2026 the April 24 application proof (SEHK 108461) remains posted as a draft, with no pricing, registered prospectus, or third filing located. The six-month validity runs to about 24 October 2026.

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Sungrow

Overview

What's next9

Complete the Hong Kong listing

Scale grid-forming storage across Europe

Navigate the new US inverter import ban

Deliver first AI data center power systems under EnerNeo framework agreements

Develop solid-state batteries with Jinghe Energy

Ship more than 60 GWh of energy storage in 2026

Bring new Poland and Egypt storage factories online

Supply 4 GWh of storage to Egypt's Sustainable Energy Valley

Bring the Observatorio hybrid project in Chile online

Latest news8

Sungrow signs 1.6 GWh German storage framework

Sungrow suppresses wideband oscillation at 500 MW plant

Sungrow raises inverter and storage prices up to 15%

Sungrow launches MGTL hybrid inverters for homes

Sungrow's H1 2026 profit falls nearly a third

Sungrow delivers 400 MWh storage project in just 17 days

Sungrow to supply 606 MWh of battery storage for Chile project

FCC bans imports of Chinese-made grid inverters, citing security

Products6

PowerTitan 3.0 Energy Storage System

EnerNeo Solid-State Transformer

PowerMatrix

PowerHarbor Residential ESS

MGTL Hybrid Inverter

MiniCube

Key metrics

Operations & revenue

Revenue streams

Track record

Timeline28

Funding

Overview

What's next9

Complete the Hong Kong listing

Scale grid-forming storage across Europe

Navigate the new US inverter import ban

Deliver first AI data center power systems under EnerNeo framework agreements

Develop solid-state batteries with Jinghe Energy

Ship more than 60 GWh of energy storage in 2026

Bring new Poland and Egypt storage factories online

Supply 4 GWh of storage to Egypt's Sustainable Energy Valley

Bring the Observatorio hybrid project in Chile online

Latest news8

Products6

PowerTitan 3.0 Energy Storage System

EnerNeo Solid-State Transformer

PowerMatrix

PowerHarbor Residential ESS

MGTL Hybrid Inverter

MiniCube

Key metrics

Operations & revenue

Revenue streams

Track record

Timeline28

Funding

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