On May 9, Sungrow Power Supply Co., Ltd. (stock code: 300274, stock abbreviation: Sungrow) announced that its controlling shareholder and actual controller, Mr. Cao Renxian, conducted operations involving the pledge and release of some of his shares. Specifically, Mr. Cao released a pledge on 3.22 million shares, which represents 0.51% of his total holdings and 0.16% of the company’s total share capital. The release date of the pledge was May 8, 2025, with Galaxy Securities acting as the pledgee.
In addition, Mr. Cao pledged 1.80 million shares, accounting for 0.29% of his holdings and 0.09% of the company’s total share capital. The pledge commenced on May 7, 2025, and is set to expire on May 6, 2027, with Galaxy Securities also serving as the pledgee. The purpose of this pledge is for personal funding needs.
The announcement further indicated that as of the disclosure date, Mr. Cao and his concerted parties have pledged a total of 33.647 million shares, which is 5.33% of his total holdings and 1.62% of the company’s total share capital. The company emphasized that there are no risks of forced liquidation or transfer of shares related to Mr. Cao’s pledged shares, and this pledge will not lead to any changes in the actual control of the company. The company will continue to monitor the pledge situation of the actual controller and his concerted parties, fulfilling its information disclosure obligations in accordance with relevant regulations.
According to Tianyancha, Sungrow was established on July 11, 2007, with a registered capital of 2,073,211,424 RMB. The legal representative is Mr. Cao Renxian, and the registered address is 1699 Xiyou Road, High-tech Zone, Hefei. The company’s main business includes research, production, sales, and service of new energy power equipment such as solar, wind, energy storage, and electric vehicles.
Currently, the company’s chairman is Mr. Cao Renxian, with Lu Yang serving as the secretary of the board. The company employs 17,305 people, and its actual controller is Mr. Cao Renxian. The company has a stake in 51 subsidiaries, including Sungrow Power (Hong Kong) Co., Limited, Sungrow Australia Group PTY LTD, Sungrow Power UK Limited, Sungrow Energy Technology Co., Ltd., and Sungrow Iberica, S.A.U..
In terms of performance, the company’s operating revenues from 2022 to 2024 were 40.257 billion RMB, 72.251 billion RMB, and 77.857 billion RMB, representing year-on-year growth of 66.79%, 79.47%, and 7.76%, respectively. The net profit attributable to shareholders was 3.593 billion RMB, 9.440 billion RMB, and 11.036 billion RMB, with year-on-year growth rates of 127.04%, 162.69%, and 16.92%, respectively. During the same period, the company’s debt-to-asset ratio was 67.97%, 64.46%, and 65.07%.
Regarding risks, Tianyancha reports that the company has 1,257 internal risks, 564 external risks, 18 historical risks, and 504 warning risks.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/sungrow-powers-major-shareholder-cao-renxian-releases-3-22-million-shares-from-pledge-and-adds-1-8-million-shares-pledged/
