On November 13th, Deye Group issued an announcement, stating that it is planning to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange (HKEX), arousing widespread attention in the industry.
According to the announcement, the goal of Deye Group’s proposed H-share listing is to further advance its global development strategy, enhance brand influence and core competitiveness internationally, actively broaden diversified financing channels through the international capital market, and comprehensively improve its governance level.
This H-share listing will not result in changes to Deye Group’s controlling shareholder or actual controller. Currently, the company is in discussions with relevant intermediary institutions on the specific advancement of the H-share listing, and relevant details have not yet been finalized.
Notably, Deye Group’s third-quarter report shows that in the first three quarters, it achieved revenue of RMB 8.846 billion, a year-on-year increase of 10.36%; net profit attributable to shareholders reached RMB 2.347 billion, a year-on-year increase of 4.79%, maintaining a steady growth momentum. The solid performance has laid a firm foundation for the company’s Hong Kong IPO.
While advancing the Hong Kong IPO plan, Deye Group is also conducting strategic adjustments and layout upgrades in the energy storage business. On the evening of October 29th, the company issued another announcement, proposing to invest RMB 1.112 billion in the construction of a 7GWh Commercial & Industrial (C&I) Energy Storage production line project.
Specifically, to improve the efficiency of fund utilization, in light of its current development strategy and actual situation, Deye Group plans to terminate its investment in the "Annual Output of 25.5GW String and Energy Storage Inverter Production Line Construction Project" and simultaneously add the "Annual Output of 7GWh C&I Energy Storage Production Line Project".
The decision to terminate the original inverter production line project and shift focus to the C&I energy storage track is a strategic optimization based on the current development trends of the energy storage market. In the future, if Deye Group connects with international capital through the Hong Kong IPO and combines it with the strategic upgrade in the C&I energy storage track, it will further strengthen its core competitiveness in the photovoltaic and energy storage sector.
Source：EnergyTrend