Chinese Inverter Maker Sungrow Plunges 20% on Potential US Ban

Chinese Inverter Maker Sungrow Plunges 20% on Potential US Ban Chinese inverter manufacturer Sungrow Power Supply Co. tumbled on Wednesday following a report that the US regulator is drafting a ban on imports due to national security concerns. The stock plunged as much as 20% in Shenzhen, the steepest intraday drop since April last year, after Reuters reported that the Federal Communications Commission is considering a restriction on new foreign models. The proposed ban addresses concerns that China might use its inverters to disrupt power supplies, and could become effective as early as this year, Reuters said, citing unnamed people with knowledge of the matter. [Image text:] SUNGROW Clean power for all