Abstract: Sungrow is seeking to raise at least USD 100m via a Hong Kong listing. CICC is the sole sponsor. We look at Sungrow's PV inverters and energy storage systems businesses, peer valuation, and financials. We also discuss our preliminary thoughts on valuation, anchored by A-H premium.
CHINA LONGYUAN POWER, Goldwind, CGN POWER, DONGFANG ELECTRIC, CGN POWER, Goldwind, SUNGROW POWER SUPPLY, CATL, CATL, DONGFANG ELECTRIC, FLAT GLASS, FLAT GLASS, CHINA LONGYUAN POWER, Enphase Energy, Fluence Energy, Inc. Class A Common Stock
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