Core Viewpoint - 阳光电源股份有限公司 has submitted a listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor, highlighting its leading position in the global photovoltaic inverter market for ten consecutive years [1][4]. Company Overview - Established in 1997, 阳光电源 has a market capitalization exceeding 330 billion RMB since its listing on the Shenzhen Stock Exchange in November 2011 [4]. - The company focuses on clean energy technology, with a business layout covering five major sectors: solar, wind, energy storage, electric vehicles and charging, and hydrogen energy [4]. - Its main products include photovoltaic inverters, energy storage systems, new energy investment and development, wind power conversion and transmission products, electric vehicle control power supplies and charging, smart energy operation services, and water surface photovoltaic systems [4]. Market Position - 阳光电源 holds a global market share of approximately 25.2% in photovoltaic inverters based on 2024 shipment volume, and it is a leader in energy storage systems with a cumulative shipment of 70 GWh by June 30, 2025 [4]. - The company has established a comprehensive global network, with products and services sold in over 100 countries and regions, demonstrating its leadership in the clean power conversion sector [4]. Business Development - The company is actively engaged in new energy investment and development across various scenarios, including ground power stations, commercial and industrial power stations, household power stations, wind farms, and energy storage stations, with a total of 57 GW developed globally by June 30, 2025 [5]. Brand Recognition - The "SUNGROW" brand is widely recognized for its high-quality products and services, with a brand value of 116.14 billion RMB, ranking among the top 100 Chinese brands for six consecutive years [7]. Financial Performance - 阳光电源 has demonstrated rapid growth with impressive financial results, achieving revenues of 40.11 billion RMB, 72.16 billion RMB, 77.70 billion RMB, and 43.44 billion RMB for the years 2022 to 2025 (first half) respectively. Net profits for the same periods were 3.70 billion RMB, 9.61 billion RMB, 11.26 billion RMB, and 7.83 billion RMB, with compound annual growth rates of 39.2% and 74.6% for revenue and net profit from 2022 to 2024 [8].