智通财经APP讯，德业股份(605117.SH)发布公告，公司已于2026年1月27日向香港联交所递交了发行H 股股票并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的申请资 料。该等申请资料为公司按照香港证监会及香港联交所的要求编制和刊发，为草拟版本，其所载内容可 能会适时作出更新和变动，投资者不应根据其中的资料作出任何投资决定。 ...

智通财经APP获悉，据港交所1月27日披露，宁波德业科技股份有限公司(605117.SH)向港交所主板递交上市申请书，中金公司、中信证券、招银国际为联席 保荐人。据招股书，德业股份是一家全球领先的光储产品提供商，致力于提供全面的光伏和储能产品，为全球用户带来清洁、可持续的绿色能源。根据 Frost & Sullivan的数据，以2024年销售金额计，德业股份为全球第一大户用储能逆变器提供商。 | [编纂]的[编纂]數目 : | [编纂]股H股(視乎[编纂]行使與否而定) | | --- | --- | | [编纂]數目 .. | [编纂]股H股(可予[编纂]) | | [编纂]數目 : | [编纂]股H股(可予[编纂]及視乎[编纂]行使與否 | | 而定) | | | 最高[编纂] : | 每股[编纂][编纂]港元另加1%經紀佣金、 | | | 0.0027％證監會交易徵費、0.00565%聯交所 | | | 交易費及0.00015% 會財局交易徵禮(須於申請 | | 時以港元繳足,可予退還) | | | 面值 | 每股H股人民幣1.00元 | | [编纂] : [编纂] | | | 聯席保薦人、[編纂]、[ ...

Group 1 - The core viewpoint of the news is that Ningbo Deye Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CICC, CITIC Securities, and CMB International as joint sponsors [1] - Deye is recognized as a global leader in solar storage products, focusing on providing comprehensive photovoltaic and energy storage solutions to deliver clean and sustainable green energy to users worldwide [1] - According to Frost & Sullivan, Deye is the largest residential energy storage inverter provider globally based on sales value projected for 2024 [1]

Group 1 - Ningbo Deye Technology Corporation has submitted an application for listing on the Hong Kong Stock Exchange, with CICC, CITIC Securities, and CMBI as joint sponsors [1] - Deye is a leading global provider of photovoltaic and energy storage products, focusing on delivering clean and sustainable green energy solutions [1] - According to Frost & Sullivan, Deye is the largest residential energy storage inverter provider globally based on sales revenue projected for 2024 [1]

智通财经APP获悉，据港交所1月27日披露，宁波德业科技股份有限公司(605117.SH)向港交所主板递交 上市申请书，中金公司、中信证券、招银国际为联席保荐人。据招股书，德业股份是一家全球领先的光 储产品提供商，致力于提供全面的光伏和储能产品，为全球用户带来清洁、可持续的绿色能源。根据 Frost & Sullivan的数据，以2024年销售金额计，德业股份为全球第一大户用储能逆变器提供商。 | [编纂]的[编纂]數目 | | : [编纂]股H股(視乎[编纂]行使與否而定) | | --- | --- | --- | | [编纂]數目 | : | [编纂]股H股(可予[编纂]) | | [编纂]數目 | .. | [编纂]股日股(可予[编纂]及視乎[编纂]行使與否 | | | | 而定) | | 最高[编纂] | : | 每股[編纂][编纂]港元另加1%經紀佣金、 | | | | 0.0027％證監會交易徵費、0.00565%聯交所 | | | | 交易費及0.00015%會財局交易徵費(須於申請 | | | | 時以港元繳足,可予退還) | | 面值 | .. | 每股H股人民幣1.00元 | ...

股票代码：605117 股票简称：德业股份 公告编号：2026-011 宁波德业科技股份有限公司 关于向香港联交所递交 H 股发行并上市的申请 并刊发申请资料的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 宁波德业科技股份有限公司（以下简称"公司"）已于 2026 年 1 月 27 日向 香港联合交易所有限公司（以下简称"香港联交所"）递交了发行 H 股股票并 在香港联交所主板挂牌上市（以下简称"本次发行上市"）的申请，并于同日在 香港联交所网站刊登了本次发行上市的申请资料。该等申请资料为公司按照香港 证券及期货事务监察委员会（以下简称"香港证监会"）及香港联交所的要求编 制和刊发，为草拟版本，其所载内容可能会适时作出更新和变动，投资者不应根 据其中的资料作出任何投资决定。 https://www1.hkexnews.hk/app/sehk/2026/108148/documents/sehk26012701156 _c.pdf 英文： https://www1.hkexnews.hk/app/sehk/2026 ...

格隆汇1月27日丨德业股份(605117.SH)公布，公司已于2026年1月27日向香港联合交易所有限公司 （称"香港联交所"）递交了发行H股股票并在香港联交所主板挂牌上市（称"本次发行上市"）的申请， 并于同日在香港联交所网站刊登了本次发行上市的申请资料。 ...

德业股份公告，公司已于2026年1月27日向香港联合交易所有限公司递交了发行H股股票并在香港联交 所主板挂牌上市的申请，并于同日在香港联交所网站刊登了本次发行上市的申请资料。 ...

Summary of Ningbo Deye Technology (605117.SS) Conference Call Company Overview - **Company**: Ningbo Deye Technology - **Ticker**: 605117.SS - **Market Cap**: Rmb80,454 million (US$11,554 million) [5] Industry Context - **Industry**: Solar Energy and Battery Storage - **Key Initiative**: The UK government launched the "Warm Homes Plan" with a budget of £15 billion (approximately US$20 billion or Rmb143 billion) to assist up to 5 million families in reducing energy bills through solar panels, battery storage, heat pumps, and insulation [2][8]. Core Points 1. **Government Support**: The "Warm Homes Plan" aims to install solar systems for up to 3 million new households by 2030, tripling current installations [2][8]. 2. **Projected Demand**: The program is expected to generate new residential battery energy storage (BESS) demand of 2.4 GWh per annum in the UK, which is 3.3 times the demand in 2024 [1][7]. 3. **Deye's Position**: Deye is expected to benefit from increased inverter and battery sales in the UK due to an exclusive partnership with its UK-based distributor, Sunsynk [1][8]. 4. **International Trends**: Other countries, including Australia, Indonesia, Ukraine, and Hungary, have also initiated plans to support residential BESS installations since 2025, indicating a global trend towards energy storage solutions [1][8]. 5. **UK BESS Market**: In 2024, the UK deployed 2.9 GWh of BESS, with residential installations accounting for 730 MWh. The UK represented 13% of total BESS installations in Europe [7]. 6. **Inverter Imports**: The UK imported Rmb1,365 million worth of inverters from China in 2025, marking a 15% year-over-year increase [7]. Financial Performance - **Earnings Summary**: - **2023**: Net Profit: Rmb1,791 million, Diluted EPS: Rmb2.129, EPS Growth: 18.7% - **2024**: Net Profit: Rmb2,960 million, Diluted EPS: Rmb3.400, EPS Growth: 59.7% - **2025E**: Net Profit: Rmb3,262 million, Diluted EPS: Rmb3.606, EPS Growth: 6.1% - **2026E**: Net Profit: Rmb4,163 million, Diluted EPS: Rmb4.603, EPS Growth: 27.6% - **2027E**: Net Profit: Rmb5,269 million, Diluted EPS: Rmb5.826, EPS Growth: 26.6% [3] Valuation - **Target Price**: Rmb102.00 per share, representing a potential return of 15.2% and a total expected return of 17.5% [5][10]. - **Valuation Methodology**: Based on a discounted cash flow (DCF) model with a terminal growth rate of 3.0% and a weighted average cost of capital (WACC) of 8.4% [10]. Risks - **Key Risks**: - Lower-than-expected demand for residential and commercial energy storage in emerging markets - Increased price competition among inverter manufacturers - Higher-than-expected trade tariffs on Chinese inverter products in international markets [11] Conclusion Ningbo Deye Technology is positioned to capitalize on the growing demand for residential energy storage solutions, particularly in the UK, driven by government initiatives. The company's financial outlook appears strong, with significant projected growth in profits and earnings per share over the next few years. However, potential risks related to market demand and competition should be monitored closely.

Core Insights - The article discusses significant events in the private equity fund market from January 19 to January 25, highlighting government initiatives and new fund establishments aimed at promoting innovation and investment in various sectors [5]. Government-Backed Funds - The National Development and Reform Commission announced plans to establish a national-level merger fund to enhance government investment and promote innovation and entrepreneurship [7]. - The Beijing Zhongguancun Science City Technology Growth Fund is set to invest in five sub-funds, focusing on various sectors including healthcare and robotics [8]. - The Pudong New Area government is launching a 2 billion yuan seed fund to support AI innovation, emphasizing collaboration with educational institutions [8]. - Guangzhou has introduced a pilot program to address financing challenges in technology transfer, allowing for a "first invest, then equity" model [9]. - Jiangsu Nanjing's advanced manufacturing fund is set to invest in high-end equipment and emerging industries, with a target size of 2 billion yuan [9]. Market-Driven Funds - Coller Capital successfully raised $17 billion for its CIP IX fund, marking the largest fund in the company's history, focusing on secondary market investments [14]. - Hengxu Capital completed the first closing of its fourth flagship fund, raising over 2 billion yuan, with plans to reach 3.5 billion yuan [15]. - The Xiamen Torch Fund II, with a size of 1 billion yuan, aims to invest in strategic emerging industries such as new materials and aerospace [16]. - The Hubei Port and Shipping Development Fund expanded to approximately 2.8 billion yuan, focusing on transportation projects [16]. Corporate Investments - Lek Electric plans to invest 190 million yuan in a venture capital fund targeting high-end manufacturing and core technologies [19]. - Ningbo Deyu plans to invest 86 million yuan in a fund focused on robotics and AI [20]. - Silver Technology is investing 50 million yuan in a private equity fund for communication and smart terminal industries [21]. - Wuyang Control's subsidiary intends to invest 30 million yuan in a fund targeting advanced technology and modern services [21].