Sungrow Power Supply (300274) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue fell 26.41% YoY to ¥48.86bn; attributable net income declined 44.46% to ¥6.60bn.

• Q3 revenue fell 21.51% YoY to ¥17.95bn and attributable net income fell 67.67% to ¥1.34bn.

Financial highlights

• 9M operating profit was ¥7.85bn versus ¥14.59bn a year earlier; net profit was ¥6.45bn versus ¥11.95bn.

• Excluding non-recurring items, attributable net income was ¥5.97bn for 9M, down 48.04% YoY; Q3 was ¥1.69bn, down 57.58%.

• Total assets rose 15.21% from year-end 2025 to ¥136.73bn; attributable equity increased 6.08% to ¥49.44bn.

• Inventory increased 50.33% to ¥40.97bn and prepayments rose 305.11% to ¥5.43bn versus year-end, reflecting sales inventory, project investment and material prepayments.

Key financial ratios and metrics

• 9M basic and diluted EPS were ¥3.21, down 43.98% YoY; Q3 EPS was ¥0.65, down 67.50%.

• Weighted-average return on equity was 13.50% for 9M, down 14.81% YoY; Q3 was 2.64%, down 6.63%.

• 9M operating cash flow was ¥3.65bn, down 63.21% YoY.