Sungrow Power shareholders approve H-share listing, capital market plans

Sungrow Power Supply Co., Ltd. successfully convened its Second Extraordinary General Meeting of Shareholders in 2025 on September 30, 2025. During the meeting, shareholders approved key resolutions, including the issuance of H-shares for listing on the Hong Kong Stock Exchange, a proposal to convert the company into an overseas-listed joint-stock company, and the 2025 semi-annual profit distribution plan. The meeting, held in a hybrid format, saw 2,656 participants representing 48.5546% of total voting shares.

All proposed resolutions, including revisions to the company's articles of association and governance policies, received overwhelming approval, with most exceeding 99% in favor of the attending shareholders' effective voting rights. Notably, the H-share issuance plan, a special resolution, secured approval from over two-thirds of the voting rights present. Additionally, the meeting approved the permanent replenishment of working capital with surplus raised funds and the appointment of an audit firm for the H-share listing.

In a related development, the company also announced that its controlling shareholder and de facto controller, Mr. Cao Renxian, extended the pledge period for 588.00 million shares, representing 0.93% of his total holdings and 0.28% of the company's total share capital. The extended pledge will now expire on September 24, 2026, and is for personal capital needs. The company confirmed that this pledge extension does not pose a liquidation risk or impact the company's control structure.