In June, Growatt submitted its prospectus to the Hong Kong Stock Exchange for the third time. Its IPO process has been prolonged. It first filed in June 2022 and passed its listing hearing, but did not proceed with bookbuilding. It filed again in March 2023, only to postpone the listing once more. By the time of its latest filing, its sponsors had changed from Credit Suisse and CICC to Huatai International.
As early as 2017, Growatt’s predecessor company had planned to pursue a listing on the Shenzhen Stock Exchange and completed its listing counseling filing in November that year. But the prospectus notes that the filing did not constitute a listing application to the China Securities Regulatory Commission. The filing was ultimately terminated in September 2021, after which Growatt shifted its focus to Hong Kong.
According to third-party data disclosed in Growatt’s prospectus, the company was the world’s third largest provider of residential energy storage inverters by shipments in 2025, with a 10.2% market share. It was also the largest provider of residential energy storage inverters in the Americas, with a 14.7% share. As of the end of 2025, its sales network covered about 190 countries and regions, and its artificial intelligence-enabled energy management system connected about 4.2 million residential, commercial, and industrial end users.
