On 7 August 2023, Sungrow Power Supply Co., Ltd.(SZ：300274), the global leading inverter and energy storage system supplier, released its primary operating data which has been estimated from January to June 2023.

For the period under review, Sungrow’s total operating income is estimated to be between 26 billion and 30 billion yuan, representing an increase of 112 to 144% year on year. The net profit attributable to shareholders of listed companies is expected to reach 4 to 4.5 billion yuan, representing an increase of 344 to 400% year on year. After deducting non-recurring gains or losses, the net profit attributable to shareholders of listed companies is expected to be 3.9 to 4.4 billion yuan, an increase of 390 to 453% year-on-year.

Sungrow stated that the overall increase in performance in H1 2023 was mainly due to its R&D investment and technology innovation, and its promotion on global marketing and service network, which to meet the demand of rapidly growing renewable energy in the world. Meanwhile, sales of core products such as PV inverters and energy storage systems increased significantly, benefiting from the improvement in operations and management, the reduction in shipping costs and the increase in foreign exchange gains.