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Sungrow Power Supply Co. is set to launch a Hong Kong IPO, potentially valuing the company at $50 billion amid a booming battery market, with shares rising 112% over the past year. The IPO aims to raise HK$15 billion ($1.9 billion) and comes as the company's revenue from energy storage surged to 41% in the first half of 2025. However, analysts warn of risks from increased competition and geopolitical tensions, particularly related to U.S. tariffs on Chinese products.