Sungrow Power Supply Co., Ltd. (SUNGROW) balance sheet

SHZ · Industrials · Electrical Equipment & Parts · 19,006 employees · CEO Ren Xian Cao

Price: CN¥71.54 +9.57%
Market cap: CN¥148B
Enterprise value: CN¥151B
Last report: Q3 '26 filed 2026-09-30
Next report: 2027-04-27

At the end of Q3 '26 Sungrow Power Supply Co., Ltd. (SUNGROW) held CN¥31.9B in cash and short-term investments against CN¥29.9B of debt incl. leases. Total assets CN¥137B, total liabilities CN¥84.3B, shareholders' equity CN¥49.4B.

Balance sheet

Balance sheet	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Assets
Cash & equivalents	CN¥18B	CN¥18.6B	CN¥16.4B	CN¥17.6B	CN¥19.8B	CN¥25.4B	CN¥19.9B	CN¥24B	CN¥22.8B	CN¥30B	CN¥31.5B	CN¥27.3B
Short-term investments	CN¥2.07B	CN¥2B	CN¥2.39B	CN¥4.59B	CN¥10.2B	CN¥5.66B	CN¥7.89B	CN¥8.17B	CN¥11B	CN¥3.87B	CN¥4.25B	CN¥4.53B
Receivables	CN¥26B	CN¥25.1B	CN¥29.8B	CN¥30.6B	CN¥33B	CN¥35.6B	CN¥36.3B	CN¥33.6B	CN¥30B	CN¥29.5B	CN¥29.4B	CN¥28B
Inventory	CN¥21.4B	CN¥23.1B	CN¥28.1B	CN¥32.2B	CN¥29B	CN¥31.2B	CN¥29.7B	CN¥29.9B	CN¥27.3B	CN¥27.8B	CN¥32.2B	CN¥41B
Other current assets	CN¥1.22B	CN¥1.42B	CN¥2.19B	CN¥3.1B	CN¥2.72B	CN¥3.32B	CN¥2.07B	CN¥2.33B	CN¥3.01B	CN¥6.73B	CN¥5.24B	CN¥4.17B
Current assets	CN¥69.3B	CN¥71.1B	CN¥79.6B	CN¥88.5B	CN¥95.1B	CN¥102B	CN¥97B	CN¥98.9B	CN¥95.4B	CN¥97.9B	CN¥103B	CN¥110B
Property, plant & equipment (net)	CN¥8.52B	CN¥8.43B	CN¥9.2B	CN¥9.98B	CN¥11.6B	CN¥11.7B	CN¥12.4B	CN¥12.8B	CN¥14.1B	CN¥14.4B	CN¥14.9B	CN¥15.4B
Long-term investments	CN¥1.91B	CN¥1.28B	CN¥1.76B	CN¥1.38B	CN¥3.36B	CN¥1.99B	CN¥3.82B	CN¥2.13B	CN¥0	CN¥2.49B	CN¥3.94B	CN¥3.56B
Goodwill	CN¥0	CN¥0	CN¥0	CN¥0	CN¥297M	CN¥297M	CN¥297M	CN¥297M	CN¥297M	CN¥297M	CN¥297M	CN¥297M
Intangible assets	CN¥732M	CN¥823M	CN¥791M	CN¥891M	CN¥1.12B	CN¥1.13B	CN¥1.16B	CN¥1.19B	CN¥1.23B	CN¥1.28B	CN¥1.52B	CN¥1.71B
Deferred tax assets	CN¥2.07B	CN¥2.23B	CN¥2.37B	CN¥3.05B	CN¥2.95B	CN¥3.15B	CN¥3B	CN¥2.98B	CN¥3.19B	CN¥3.26B	CN¥0	CN¥3.48B
Other non-current assets	CN¥359M	CN¥993M	CN¥704M	CN¥1.84B	CN¥584M	CN¥2.32B	CN¥688M	CN¥2.41B	CN¥4.43B	CN¥2.25B	CN¥3.82B	CN¥1.91B
Non-current assets	CN¥13.6B	CN¥13.8B	CN¥14.8B	CN¥17.1B	CN¥19.9B	CN¥20.6B	CN¥21.4B	CN¥21.8B	CN¥23.3B	CN¥24B	CN¥24.5B	CN¥26.3B
Total assets	CN¥82.9B	CN¥84.9B	CN¥94.4B	CN¥106B	CN¥115B	CN¥123B	CN¥118B	CN¥121B	CN¥119B	CN¥122B	CN¥127B	CN¥137B
Liabilities
Accounts payable	CN¥28.5B	CN¥25.6B	CN¥27.7B	CN¥31.5B	CN¥36.8B	CN¥37.7B	CN¥35.9B	CN¥17.8B	CN¥36.6B	CN¥17.2B	CN¥20.7B	CN¥25.6B
Accrued expenses	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥2.46B	CN¥0	CN¥0	CN¥1.08B	CN¥1.42B
Short-term debt	CN¥2.79B	CN¥3.82B	CN¥5.73B	CN¥6.44B	CN¥4.21B	CN¥5.2B	CN¥5.27B	CN¥22.4B	CN¥2.42B	CN¥22.5B	CN¥25.9B	CN¥25.6B
Taxes payable	CN¥2.9B	CN¥2.61B	CN¥1.68B	CN¥2.56B	CN¥2.53B	CN¥2.5B	CN¥1.3B	CN¥0	CN¥1.28B	CN¥0	CN¥0	CN¥0
Deferred revenue	CN¥6.56B	CN¥8.18B	CN¥9.04B	CN¥8.9B	CN¥10B	CN¥11.3B	CN¥10.3B	CN¥10B	CN¥0	CN¥0	CN¥0	CN¥14.7B
Other current liabilities	CN¥2.71B	CN¥2.29B	CN¥3.02B	CN¥3.93B	CN¥3.96B	CN¥3.41B	CN¥2.82B	CN¥5.21B	CN¥13.2B	CN¥18.3B	CN¥13.9B	CN¥4.31B
Current liabilities	CN¥45.9B	CN¥44.4B	CN¥49.6B	CN¥56B	CN¥60.3B	CN¥62.3B	CN¥58.5B	CN¥59.3B	CN¥57.2B	CN¥59.1B	CN¥62.4B	CN¥73.2B
Long-term debt	CN¥4.18B	CN¥4.58B	CN¥5.03B	CN¥5.06B	CN¥4.86B	CN¥5.84B	CN¥4.35B	CN¥6.26B	CN¥3.06B	CN¥3.84B	CN¥3.52B	CN¥3.84B
Lease obligations (non-current)	CN¥324M	CN¥325M	CN¥335M	CN¥337M	CN¥315M	CN¥314M	CN¥309M	CN¥319M	CN¥373M	CN¥383M	CN¥1.15B	CN¥446M
Deferred revenue (non-current)	CN¥169M	CN¥202M	CN¥196M	CN¥217M	CN¥371M	CN¥374M	CN¥358M	CN¥358M	CN¥314M	CN¥303M	CN¥0	CN¥280M
Deferred tax liabilities	CN¥12.6M	CN¥12.4M	CN¥6.69M	CN¥12M	CN¥82.3M	CN¥78.5M	CN¥84.4M	CN¥84.8M	CN¥83.2M	CN¥82.5M	CN¥323M	CN¥126M
Other non-current liabilities	CN¥2.8B	CN¥3.77B	CN¥5.93B	CN¥7.83B	CN¥8.95B	CN¥9.89B	CN¥9B	CN¥6.19B	CN¥7.84B	CN¥6.4B	CN¥6.34B	CN¥6.42B
Non-current liabilities	CN¥7.49B	CN¥8.88B	CN¥11.5B	CN¥13.5B	CN¥14.6B	CN¥16.5B	CN¥14.1B	CN¥13.2B	CN¥11.7B	CN¥11B	CN¥11.3B	CN¥11.1B
Total liabilities	CN¥53.4B	CN¥53.3B	CN¥61.1B	CN¥69.4B	CN¥74.9B	CN¥78.8B	CN¥72.6B	CN¥72.5B	CN¥68.9B	CN¥70.1B	CN¥73.9B	CN¥84.3B
Equity
Common stock & paid-in capital	CN¥1.49B	CN¥1.49B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B	CN¥2.07B
Retained earnings	CN¥18.7B	CN¥20.8B	CN¥22.3B	CN¥24.9B	CN¥28.3B	CN¥32.2B	CN¥33.9B	CN¥36.1B	CN¥37.6B	CN¥39.9B	CN¥41.5B	CN¥41.5B
Accumulated other comprehensive income	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥8.45B	CN¥0	CN¥8.27B	CN¥1.37B	CN¥7.17B
Shareholders' equity	CN¥27.7B	CN¥29.8B	CN¥31.4B	CN¥34.2B	CN¥36.9B	CN¥40.8B	CN¥42.5B	CN¥45B	CN¥46.6B	CN¥48.7B	CN¥50.1B	CN¥49.4B
Debt
Total debt (incl. leases)	CN¥7.3B	CN¥8.72B	CN¥11.1B	CN¥11.8B	CN¥9.39B	CN¥11.4B	CN¥9.92B	CN¥29B	CN¥5.86B	CN¥26.7B	CN¥30.5B	CN¥29.9B
Net debt (debt - cash)	-CN¥10.7B	-CN¥9.87B	-CN¥5.28B	-CN¥5.8B	-CN¥10.4B	-CN¥14B	-CN¥9.95B	CN¥5.08B	-CN¥17B	-CN¥3.33B	-CN¥1B	CN¥2.54B

Balance sheet	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	CN¥1.7B	CN¥2.92B	CN¥3.18B	CN¥4.46B	CN¥7.42B	CN¥7.79B	CN¥11.7B	CN¥18B	CN¥19.8B	CN¥22.8B
Short-term investments	CN¥1.48B	CN¥15.1M	CN¥656M	CN¥1.39B	CN¥673M	CN¥3.81B	CN¥1.49B	CN¥2.07B	CN¥10.2B	CN¥11B
Receivables	CN¥4.55B	CN¥6.34B	CN¥7.73B	CN¥9.35B	CN¥10.6B	CN¥12.6B	CN¥18.4B	CN¥26B	CN¥33B	CN¥30B
Inventory	CN¥1.34B	CN¥2.37B	CN¥2.46B	CN¥2.62B	CN¥3.87B	CN¥10.8B	CN¥19.1B	CN¥21.4B	CN¥29B	CN¥27.3B
Other current assets	CN¥194M	CN¥1.45B	CN¥278M	CN¥270M	CN¥380M	CN¥971M	CN¥1B	CN¥1.22B	CN¥2.72B	CN¥3.01B
Current assets	CN¥9.35B	CN¥13.2B	CN¥14.5B	CN¥18.3B	CN¥23.3B	CN¥36.3B	CN¥52B	CN¥69.3B	CN¥95.1B	CN¥95.4B
Property, plant & equipment (net)	CN¥1.73B	CN¥1.86B	CN¥2.51B	CN¥2.96B	CN¥3.69B	CN¥5.01B	CN¥6.29B	CN¥8.52B	CN¥11.6B	CN¥14.1B
Long-term investments	CN¥401M	CN¥967M	CN¥1.22B	CN¥1.12B	CN¥764M	CN¥622M	CN¥1.39B	CN¥1.91B	CN¥3.36B	CN¥0
Goodwill	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥297M	CN¥297M
Intangible assets	CN¥87.4M	CN¥86.6M	CN¥88.5M	CN¥108M	CN¥129M	CN¥174M	CN¥340M	CN¥732M	CN¥1.12B	CN¥1.23B
Deferred tax assets	CN¥69.7M	CN¥115M	CN¥143M	CN¥175M	CN¥359M	CN¥638M	CN¥1.03B	CN¥2.07B	CN¥2.95B	CN¥3.19B
Other non-current assets	CN¥21.4M	CN¥48.3M	CN¥72.9M	CN¥30M	CN¥37.4M	CN¥83.7M	CN¥588M	CN¥359M	CN¥584M	CN¥4.43B
Non-current assets	CN¥2.31B	CN¥3.08B	CN¥4.03B	CN¥4.39B	CN¥4.98B	CN¥6.53B	CN¥9.63B	CN¥13.6B	CN¥19.9B	CN¥23.3B
Total assets	CN¥11.7B	CN¥16.2B	CN¥18.5B	CN¥22.7B	CN¥28.2B	CN¥42.8B	CN¥61.6B	CN¥82.9B	CN¥115B	CN¥119B
Liabilities
Accounts payable	CN¥4.29B	CN¥6.46B	CN¥7.05B	CN¥9.34B	CN¥12.1B	CN¥17.8B	CN¥25.9B	CN¥28.5B	CN¥36.8B	CN¥36.6B
Short-term debt	CN¥199M	CN¥10M	CN¥425M	CN¥333M	CN¥135M	CN¥1.52B	CN¥1.42B	CN¥2.79B	CN¥4.21B	CN¥2.42B
Taxes payable	CN¥198M	CN¥213M	CN¥318M	CN¥191M	CN¥326M	CN¥509M	CN¥842M	CN¥2.9B	CN¥2.53B	CN¥1.28B
Deferred revenue	CN¥221M	CN¥790M	CN¥617M	CN¥1.45B	CN¥1.41B	CN¥1.71B	CN¥3.79B	CN¥6.56B	CN¥10B	CN¥0
Other current liabilities	CN¥300M	CN¥51.5M	CN¥430M	CN¥367M	CN¥600M	CN¥1.11B	CN¥2.08B	CN¥2.71B	CN¥3.96B	CN¥13.2B
Current liabilities	CN¥5.29B	CN¥7.88B	CN¥9.25B	CN¥12.1B	CN¥15.1B	CN¥23.5B	CN¥35.5B	CN¥45.9B	CN¥60.3B	CN¥57.2B
Long-term debt	CN¥321M	CN¥1.22B	CN¥1.26B	CN¥1.6B	CN¥1.78B	CN¥1.89B	CN¥4.16B	CN¥4.18B	CN¥4.86B	CN¥3.06B
Lease obligations (non-current)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥199M	CN¥284M	CN¥431M	CN¥324M	CN¥315M	CN¥373M
Deferred revenue (non-current)	CN¥84.4M	CN¥114M	CN¥123M	CN¥132M	CN¥136M	CN¥141M	CN¥167M	CN¥169M	CN¥371M	CN¥314M
Deferred tax liabilities	CN¥0	CN¥0	CN¥14M	CN¥15.5M	CN¥14.7M	CN¥14.1M	CN¥13.4M	CN¥12.6M	CN¥82.3M	CN¥83.2M
Other non-current liabilities	CN¥2.2M	CN¥9.13M	CN¥57.4M	CN¥128M	CN¥179M	CN¥298M	CN¥1.65B	CN¥2.8B	CN¥8.95B	CN¥7.84B
Non-current liabilities	CN¥408M	CN¥1.35B	CN¥1.45B	CN¥1.87B	CN¥2.31B	CN¥2.63B	CN¥6.42B	CN¥7.49B	CN¥14.6B	CN¥11.7B
Total liabilities	CN¥5.69B	CN¥9.22B	CN¥10.7B	CN¥14B	CN¥17.4B	CN¥26.1B	CN¥41.9B	CN¥53.4B	CN¥74.9B	CN¥68.9B
Equity
Common stock & paid-in capital	CN¥1.41B	CN¥1.45B	CN¥1.45B	CN¥1.46B	CN¥1.46B	CN¥1.49B	CN¥1.49B	CN¥1.49B	CN¥2.07B	CN¥2.07B
Retained earnings	CN¥1.4B	CN¥2.27B	CN¥2.87B	CN¥3.58B	CN¥5.28B	CN¥6.53B	CN¥9.61B	CN¥18.7B	CN¥28.3B	CN¥37.6B
Shareholders' equity	CN¥5.95B	CN¥6.94B	CN¥7.71B	CN¥8.58B	CN¥10.5B	CN¥15.7B	CN¥18.7B	CN¥27.7B	CN¥36.9B	CN¥46.6B
Debt
Total debt (incl. leases)	CN¥520M	CN¥1.23B	CN¥1.68B	CN¥1.93B	CN¥2.12B	CN¥3.7B	CN¥6.01B	CN¥7.3B	CN¥9.39B	CN¥5.86B
Net debt (debt - cash)	-CN¥1.18B	-CN¥1.69B	-CN¥1.5B	-CN¥2.53B	-CN¥5.3B	-CN¥4.09B	-CN¥5.65B	-CN¥10.7B	-CN¥10.4B	-CN¥17B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02