SHE:300274

Sungrow Power's Unit Agrees to Inject 199 Million Yuan Into Partnership Fund; Shares Down 3%

Sungrow Power Supply's (SHE:300274) unit, Sungrow New Energy Development, agreed to contribute 199 million yuan into a partnership fund as a limited partner, according to a Thursday disclosure on the Shenzhen bourse.The Chinese solar photovoltaic inverter manufacturer's shares fell 3% during Friday's morning trade.The Huatai Baoli-Suzhou Huaxu New Energy Equity Investment Partnership (Limited Partnership) aims to raise capital of up to 1 billion yuan. The fund will have a registered term of 30 years.

Sungrow Power Supply Chair Proposes Up to 1-Billion-Yuan Share Buyback

Sungrow Power Supply (SHE:300274) Chair Cao Renxian proposed a share repurchase plan of between 500 million yuan to 1 billion yuan via centralized bidding.The shares will be bought back at up to 150% of the 30-day average trading price within 12 months after board approval, according to a Tuesday filing with the Shenzhen bourse.Shares of the solar photovoltaic inverter manufacturer rose 6% in recent trade.

Market Chatter: Top Chinese Battery Makers Absent from Japan's Security Certification

None of China's major battery makers have received Japan's cybersecurity approval yet, despite an upcoming 2027 mandate requiring grid-connected storage equipment, Nikkei Asia reported on Wednesday.The certification process, managed by the Ministry of Economy, Trade and Industry and the Innovation Platform Agency, requires companies to submit checklists verifying basic security compliance, the news daily said.While rivals such as Tesla and SMA Solar already appear on the certified list, prominent Chinese firms, including Sungrow (SHE:300274), Huawei, BYD (HKG:1211, SHE:002594), and Contemporary Amperex Technology or CATL (SHE:300750), remain absent from the registry as of this week, the publication said.Sungrow, Huawei, BYD, and CATL didn't immediately reply to MTNewswire's request for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Jefferies Adjusts Sungrow Power Supply's Price Target to 236.35 Yuan From 181.29 Yuan, Keeps at Buy

Sungrow Power Supply (SHE:300274) has an average rating of overweight and mean price target of 184.87 yuan, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Nomura Downgrades Sungrow Power Supply to Neutral from Buy, Adjusts Price Target to 120 Yuan from 230 Yuan

Sungrow Power Supply Q1 Profit Down 40%; Shares Fall 3%

Sungrow Power Supply (SHE:300274) posted first-quarter attributable net profit of 2.29 billion yuan, down 40% from 3.83 billion yuan the previous year.Earnings per share fell to 1.11 yuan from 1.85 yuan, according to a Tuesday filing with the Shenzhen bourse.Revenue declined 18% year over year to 15.6 billion yuan from 19.0 billion yuan.Shares of the solar photovoltaic inverter manufacturer slid 3% in recent trade.