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Themis Qi

Chinese energy firms have called for policy stability in overseas markets as their global investments face mounting geopolitical risks amid headwinds from the oil crisis.
The call came from Sungrow Power Supply and EVE Energy executives, who said policy stability topped their expectations at an event in Hong Kong on Tuesday.
Both companies have come under fresh pressure in the US market in the past two months.
Sungrow, the world’s second-largest energy storage system maker, was hit by a US import ban targeting foreign-made inverters, while EVE, the seventh-largest electric vehicle (EV) battery supplier globally, is being probed by the US International Trade Commission over a patent complaint filed by South Korea’s LG Energy Solution.
“Geopolitics can, in fact, be rather irrational at times and there are often misunderstandings regarding companies like ours which are entirely privately owned,” said Cai Zhuang, general manager of product business at Hefei-based Sungrow, at a BloombergNEF event.
“The truth is that we ourselves do not know what ‘ghost software’ is,” added Cai, pushing back at claims that inverters – a key component in modern grid networks and energy storage systems – could act as spyware.
After firms like us have injected about [US$1.5 billion] into the local market, we can’t quit
Yuan Huagang, EVE Energy
Talk against inverters, more than half of which were manufactured in China in 2024, began circulating in 2025.
The European Union and the US initiated formal bans on foreign-made grid equipment in May and July, respectively, citing national security and supply chain risks.
Sungrow’s Shenzhen-listed shares have plunged over 40 per cent since media reports about a US ban surfaced in late June.
At the same event, EVE senior vice-president Yuan Huagang stressed the importance of policy consistency in local markets, noting that overseas investments such as battery plants required a minimum depreciation period of 20 years.
Yuan cited EVE’s Hungary investment, which faced uncertainties and public pressure after a change in government.
“After firms like us have injected about 10 billion yuan [US$1.5 billion] into the local market, we can’t quit,” Yuan said. “I think we need stable expectations and respect for business ethics.”
Hungary has been a key hub for Chinese companies expanding in Europe.
But after a new administration came into power this year, battery giant Contemporary Amperex Technology Limited and Semcorp, the world’s biggest producer of lithium-ion battery separator film by volume, were recently forced to halt operations due to health and pollution concerns.
To handle shifting policies, Cai and Yuan said their companies would continue strengthening compliance.
Albert Cheung, CEO of BloombergNEF, said energy security concerns had grown worldwide, boosting the importance of energy transition to reduce the reliance on imported fuels.
Cheung said “clustering” – consumers imitating neighbours by buying EVs or installing rooftop solar panels – was a bigger driver of transition than rising oil prices.
Cheung added that near-term uncertainties, including the reopening of the Strait of Hormuz and doubts over the profitability of artificial intelligence, would curb investor appetite for key commodities like oil and copper.
Brent crude prices could exceed US$100 per barrel again if the Middle East conflicts escalated further and affected key shipping infrastructure around Kharg Island and the Bab el-Mandeb Strait, said Catherine Li, Middle East and global energy analyst at Chinese brokerage Haitong International.
Brent rose 1.63 per cent to US$99.50 per barrel on Tuesday.


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Sungrow, EVE Energy say bans, probes and shifting rules abroad expose the fragility of their long-term energy investments


Sungrow, EVE Energy say bans, probes and shifting rules abroad expose the fragility of their long-term energy investments.


Chinese energy firms warn policy volatility complicates long-term expansion abroad

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Sungrow, EVE Energy say bans, probes and shifting rules abroad expose the fragility of their long-term energy investments

Sungrow, EVE Energy say bans, probes and shifting rules abroad expose the fragility of their long-term energy investments