On the evening of August 25, Sungrow Power (300274.SZ) released its semi-annual report for 2025, showcasing strong performance across key metrics such as revenue and net profit. The report also disclosed details on R&D investment, revenue composition, and a semi-year dividend plan, highlighting the company’s robust competitiveness and growth momentum in the new energy sector.
Founded in 1997, Sungrow Power specializes in the production, sales, and services of new energy power equipment, including solar, wind, energy storage, hydrogen, electric vehicles, and charging infrastructure. Its core product, photovoltaic inverters, is mass-sold to over 100 countries and regions worldwide. In 2025, the company’s brand value reached RMB 116.136 billion, as ranked in the “China 500 Most Valuable Brands” list released by World Brand Laboratory, marking its sixth consecutive year of growth and securing a position among the top 100 brands.
According to the financial data, Sungrow Power achieved revenue of RMB 43.533 billion in the first half of the year, a year-on-year increase of 40.34%. Net profit attributable to shareholders reached RMB 7.735 billion, surging 55.97% compared to the same period last year. This performance was driven by the synergistic development and market expansion across multiple business segments, underscoring the company’s strong foundation and resilience in the new energy industry.
In terms of revenue composition, the energy storage systems business emerged as the core growth driver for Sungrow in the first half. Revenue from energy storage system products amounted to RMB 17.803 billion, accounting for 40.89% of total revenue and representing a year-on-year growth of 127.78%. As the global energy transition accelerates, demand for energy storage continues to surge, and Sungrow has rapidly captured market share with its technological and product advantages. Revenue from power electronic conversion equipment, such as photovoltaic inverters, reached RMB 15.327 billion, accounting for 35.21% of total revenue and growing 17.06% year-on-year. As a traditional strength of the company, this segment maintained steady growth. Meanwhile, revenue from new energy investment and development business was RMB 8.398 billion, accounting for 19.29% of total revenue and declining 6.22% year-on-year.
