Sungrow Power Supply Co., Ltd. (stock code: 300274) announced on May 19, 2025, that its controlling shareholder, Cao Renxian, has released a pledge of 700,000 shares. This represents 0.11% of his total shareholding and 0.03% of the company’s total share capital. The release date of the pledge was May 16, 2025, with Galaxy Securities being the pledgee. Additionally, Cao Renxian has pledged another 420,000 shares, which accounts for 0.07% of his holdings and 0.02% of the total share capital of the company. The new pledge began on May 15, 2025, and is set to expire on May 14, 2027, with Galaxy Securities again acting as the pledgee. The purpose of this pledge is for personal funding needs.
As of the date of the announcement, Cao Renxian and his concerted parties have a total of 33.367 million shares pledged, representing 5.25% of his holdings and 1.61% of the company’s total share capital. The company emphasized that there is no risk of forced liquidation or transfer of shares, and this stock pledge will not lead to any change in the actual control of the company.
According to information from Tianyancha, Sungrow Power was established on July 11, 2007, with a registered capital of 2.073211424 billion RMB. The legal representative is Cao Renxian, and the registered address is 1699 Xiyou Road, High-tech Zone, Hefei City. The company specializes in the research, development, production, sales, and service of new energy power supply equipment, including solar, wind, energy storage, and electric vehicles.
Currently, Cao Renxian serves as the chairman of the company, while Lu Yang is the secretary of the board. The company employs 17,305 people and Cao Renxian is the actual controller. The company has participated 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 revenues for the years 2022 to 2024 are projected to be 40.257 billion RMB, 72.251 billion RMB, and 77.857 billion RMB, reflecting year-on-year growth rates of 66.79%, 79.47%, and 7.76%, respectively. The net profit attributable to the parent company is expected to be 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%. During the same period, the company’s debt-to-asset ratios were 67.97%, 64.46%, and 65.07%.
In terms of risks, Tianyancha indicates that the company has 1,257 risk alerts, with 564 surrounding risks, 18 historical risks, and 504 warnings.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/sunshine-powers-major-shareholder-cao-renxian-releases-700000-shares-from-pledge-and-adds-420000-shares-to-pledge/
