Ningbo Deye Technology Corporation HKEX IPO Application Lapsed, World’s Largest Residential Energy Storage Inverter Supplier
NewTimeSpace News: The Hong Kong listing application of Ningbo Deye Technology Corporation, submitted on 27 January 2026, has lapsed upon the expiry of the six-month validity period. CICC, CITIC Securities and CMBC International acted as the original joint sponsors. According to Frost & Sullivan data, the Company ranks as the world’s largest supplier of residential energy storage inverters by 2024 sales revenue. Its products are sold to over 150 countries and regions across six continents. It recorded operating revenue of approximately RMB11.21 billion in 2024, with overseas revenue accounting for 70.9%.
NewTimeSpace News: The listing application submitted by Ningbo Deye Technology Corporation to the Hong Kong Stock Exchange on 27 January 2026 has lapsed upon the expiry of the six-month validity period. CICC, CITIC Securities and CMBC International served as the original joint sponsors.
The Company is a globally leading provider of photovoltaic and energy storage products, committed to offering comprehensive photovoltaic and energy storage offerings. Per Frost & Sullivan statistics, measured by 2024 sales revenue, the Company is the world’s largest supplier of residential energy storage inverters, and also among the world’s top five suppliers of residential energy storage systems.
New energy business constitutes the core growth driver of the Company, focusing on energy storage inverters, photovoltaic inverters and energy storage battery packs. Meanwhile, the Company has long been engaged in environmental electrical appliances including dehumidifiers, solar air conditioners and heat exchangers. A strategically diversified product portfolio underpins business growth and resilience. The Company has built a product matrix covering residential and commercial & industrial scenarios, and its products are exported to over 150 countries and regions across six continents.
In 2024, the Company posted operating revenue of roughly RMB11.21 billion, and overseas revenue made up 70.9% of total revenue. In China’s dehumidifier market, the Company achieved the highest cumulative sales volume via online monitoring channels from 2016 to 2025, and secured the top ranking by sales volume across both online and offline monitoring channels in 2025.
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