Sungrow Power Supply (300274) Q2 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 was ¥30.91 billion, down 28.99% year-over-year; net profit attributable to shareholders was ¥5.26 billion, down 32.01% year-over-year.

• Gross margin improved to 35.92%, up 1.56 percentage points, driven by product mix optimization.

• Cash flow from operating activities increased 8.75% year-over-year to ¥3.74 billion.

• The company maintained a strong focus on R&D and global expansion, launching innovative products in PV inverters, energy storage, and AI data center power supply.

Financial highlights

• Operating income: ¥30.91 billion, down 28.99% year-over-year.

• Net profit attributable to shareholders: ¥5.26 billion, down 32.01% year-over-year.

• Net profit excluding non-recurring items: ¥4.28 billion, down 42.96% year-over-year.

• Basic and diluted EPS: ¥2.56, down 31.37% year-over-year.

• Total assets at period end: ¥127.09 billion, up 7.09% from year-end 2025.

Outlook and guidance

• The company continues to invest in R&D and digital transformation, aiming to strengthen its global competitiveness and drive high-quality growth.

• Strategic focus remains on innovation in PV, energy storage, AI data center power, and green hydrogen, with ongoing expansion in domestic and international markets.