Sungrow Power's subsidiary takes control of Hefei Taihe

Sungrow Power Supply's subsidiary, Sungrow New Energy Development, has acquired control of Hefei Taihe Intelligent Technology Group. Sungrow New Energy purchased 18,773,220 shares, representing 10.24% of Taihe's total share capital, and secured voting rights representing 13.36% through share transfers and voting agreements. The share transfer from four previous shareholders, Xu Dahong, Ge Suhui, Tang Lin, and Wang Jincheng, was completed on November 26, 2024. On December 18, 2024, Taihe held a shareholder meeting, appointing Sungrow New Energy's nominated directors and supervisors to its fifth board and supervisory board, solidifying Sungrow's control. The acquisition was initially announced on October 18, 2024.