On March 31, Sungrow released its 2025 Annual Report. In the face of a complex international environment and fierce industry competition, the company focused on its core business of clean energy and achieved steady growth in its overall performance.
Steady Growth in Overall Performance, with Energy Storage Business Becoming the Core Revenue Driver
During the reporting period, the company achieved a total revenue of 89.184 billion yuan, a year-on-year increase of 14.55%. Among this, the net profit attributable to shareholders of the listed company reached 13.461 billion yuan, a year-on-year increase of 21.97%; the net operating cash flow was 16.918 billion yuan, a year-on-year increase of 40.18%, indicating a significant improvement in both profitability and cash flow.
Breaking it down by business segment, the total revenue of the company's energy storage system business in 2025 reached 37.287 billion yuan, representing a substantial year-on-year growth of 49.39%. This accounted for 41.81% of the total operating revenue. The gross profit margin for the energy storage business stood at 36.49%, establishing it as a crucial revenue pillar for the company.
In 2025, the company's global shipments of energy storage systems reached 43 GWh, a year-on-year increase of 53.5%. The products were widely deployed in power markets across Europe, the Americas, the Middle East, Africa, and the Asia-Pacific region.
Continuous Efforts in R&D and Innovation, with a Constantly Improved Product Matrix
In terms of product research and development and technological innovation, the company released the PowerTitan 3.0 AC smart energy storage platform during the reporting period. This platform continued the integrated AC and DC design and introduced three versions: Flex, Class, and Plus. Among them, the Plus version features a single-cabinet capacity of up to 3.125 MW/12.5 MWh, with an overall energy density exceeding 500 kWh/m².
Meanwhile, the company's pioneering "AC and DC integrated" 10 MWh fully liquid-cooled energy storage system, PowerTitan 2.0, has also been applied in multiple large-scale independent energy storage and user-side energy storage power stations both domestically and internationally.
Targeting the commercial and industrial (C&I) as well as the residential energy storage markets, the company launched the PowerStack 255CS and 510CS series of C&I energy storage systems. These products achieved full-scenario coverage across voltage levels ranging from 400V to 35kV, as well as system durations spanning 2 to 4 hours.
Source：EnergyTrend
