In 2023, Sungrow – the global leading PV inverter and energy storage system provider – saw a remarkable surge in operating revenue, soaring by 79.5% to reach an impressive $10.2 billion.
Simultaneously, its net profit attributable to shareholders surged significantly by 162.7% to $1.3 billion. These figures highlight Sungrow’s outstanding performance and substantial growth during the year.
This robust growth was primarily attributed to the company’s expanding customer base and increasing market share in key regions.
The company experienced a remarkable surge in PV inverter shipments, surpassing 130GW, signaling a widespread adoption of solar energy worldwide. Additionally, Sungrow’s sales of energy storage systems skyrocketed to 10.5GWh, driven by increasing demand for both grid-connected and off-grid applications.
The company’s strong financial performance has allowed it to expand its operations and strengthen its global presence and also available in South Africa.
As of the previous year, Sungrow had exceeded 20 subsidiaries, successfully marketing its products in 170 nations and regions. In addition, it boasted over 490 service outlets across six major service areas globally. Simultaneously, the overseas employee count reached 1423, representing a year-on-year increase of 58.1%.
The year 2023 marked an exceptional milestone for Sungrow. With power electronic converters boasting an accumulated installed capacity exceeding 515GW, the company’s efforts are estimated to avert around 330 million tons of carbon dioxide emissions annually in collaboration with our customers.
Embracing a steadfast commitment to sustainable practises, Sungrow aims to attain carbon neutrality at the operational level by 2028, extend this commitment across its entire supply chain by 2038, and achieve net-zero emissions across the chain by 2048.
Aligned with its accelerated RE100 initiative, Sungrow has elevated the proportion of green electricity utilised the year to 55%, while also launching global volunteer service projects. Notably, with 1,352 registered volunteers contributing a cumulative total of 3,442 service hours to date.
Looking ahead, Sungrow remains steadfast in its dedication to clean energy, emphasising solar, wind, energy storage, and green hydrogen. The company is committed to ongoing innovation, with a focus on advancing power electronics, grid support, and AI technology. Sungrow aims to provide comprehensive solutions, enhance the customer experience, and strengthen its brand image, all in pursuit of further establishing its position as a global leader in sustainable and high-quality development.
