On July 1 Sungrow Power shares opened sharply lower and intraday approached the
daily down limit after foreign media reported the Trump administration is
drafting an import ban on foreign solar inverters, citing concerns China could
use such equipment to disrupt power supply. The draft reportedly would target
new-model foreign inverters and could be issued as soon as this year. At midday
Sungrow's board office said production and operations were normal and that
external triggers for the share move were being verified. Asked about possible
pressure on overseas business, the company said it has local subsidiaries in
several markets, including the United States, for localized operations, but
declined to disclose regional subsidiaries' performance or headcount; the board
office does not hold detailed data.
