Sungrow Power Supply Co., Ltd. (SUNGROW) income statement

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

Sungrow Power Supply Co., Ltd. (SUNGROW) reported revenue of CN¥18B for Q3 '26 (-21.5% year on year), operating income of CN¥1.92B (10.7% of revenue) and net income of CN¥1.34B. Over the last four quarters revenue was CN¥71.6B.

Income statement

Income statement	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26
Revenue	CN¥25.8B	CN¥12.6B	CN¥18.4B	CN¥18.9B	CN¥27.9B	CN¥19B	CN¥24.5B	CN¥22.9B	CN¥22.8B	CN¥15.6B	CN¥15.4B	CN¥18B
Cost of revenue	CN¥20.6B	CN¥8.37B	CN¥12.7B	CN¥13.2B	CN¥21B	CN¥12.3B	CN¥16.8B	CN¥14.7B	CN¥17.6B	CN¥10.4B	CN¥9.55B	CN¥12.7B
Gross profit	CN¥5.22B	CN¥4.24B	CN¥5.72B	CN¥5.68B	CN¥6.93B	CN¥6.69B	CN¥7.65B	CN¥8.2B	CN¥5.23B	CN¥5.18B	CN¥5.8B	CN¥5.29B
Research & development	CN¥705M	CN¥656M	CN¥830M	CN¥890M	CN¥787M	CN¥799M	CN¥1.24B	CN¥1.1B	CN¥1.03B	CN¥0	CN¥1.06B	CN¥1.17B
Sales & marketing	CN¥713M	CN¥736M	CN¥931M	CN¥1.11B	CN¥784M	CN¥961M	CN¥1.25B	CN¥0	-CN¥1.76B	CN¥0	CN¥0	CN¥0
General & administrative	CN¥266M	CN¥227M	CN¥278M	CN¥308M	CN¥344M	CN¥333M	CN¥465M	CN¥1.74B	-CN¥398M	CN¥1.39B	CN¥0	CN¥0
Other operating expenses	CN¥392M	CN¥130M	CN¥216M	CN¥284M	CN¥498M	CN¥19.2M	-CN¥104M	CN¥397M	CN¥4.65B	CN¥1.22B	CN¥177M	CN¥351M
Operating expenses	CN¥2.08B	CN¥1.75B	CN¥2.26B	CN¥2.59B	CN¥2.41B	CN¥2.11B	CN¥2.85B	CN¥3.24B	CN¥3.53B	CN¥2.61B	CN¥2.96B	CN¥3.37B
Operating income	CN¥3.14B	CN¥2.49B	CN¥3.46B	CN¥3.09B	CN¥4.52B	CN¥4.58B	CN¥4.8B	CN¥4.96B	CN¥1.7B	CN¥2.57B	CN¥2.84B	CN¥1.92B
Interest income	CN¥204M	CN¥147M	CN¥216M	CN¥167M	CN¥135M	CN¥252M	CN¥211M	CN¥239M	CN¥96.8M	CN¥0	CN¥426M	CN¥258M
Interest expense	CN¥94.2M	CN¥83.9M	CN¥108M	CN¥119M	CN¥81.3M	CN¥77.2M	CN¥114M	CN¥82.4M	CN¥73.8M	CN¥47.5M	CN¥55.5M	CN¥77.9M
Other non-operating income (gains on investments, FX ...)	CN¥316M	-CN¥166M	CN¥191M	-CN¥368M	CN¥243M	CN¥14M	CN¥571M	-CN¥295M	-CN¥48.9M	-CN¥138M	CN¥0	CN¥0
Total non-operating income	-CN¥13.3M	CN¥812K	-CN¥7.52M	-CN¥11.3M	-CN¥1.87M	-CN¥13.5M	CN¥1.64M	CN¥249M	-CN¥24.8M	CN¥90.8M	CN¥844M	-CN¥413M
Income before tax	CN¥3.13B	CN¥2.49B	CN¥3.45B	CN¥3.08B	CN¥4.52B	CN¥4.56B	CN¥4.81B	CN¥5.21B	CN¥1.68B	CN¥2.66B	CN¥3.68B	CN¥1.5B
Income tax	CN¥851M	CN¥387M	CN¥515M	CN¥399M	CN¥979M	CN¥769M	CN¥769M	CN¥1.09B	CN¥101M	CN¥412M	CN¥770M	CN¥214M
Net income	CN¥2.22B	CN¥2.1B	CN¥2.86B	CN¥2.64B	CN¥3.44B	CN¥3.83B	CN¥3.91B	CN¥4.15B	CN¥1.58B	CN¥2.29B	CN¥2.97B	CN¥1.34B
EPS (basic)	CN¥1.49	CN¥1.01	CN¥1.38	CN¥1.28	CN¥1.66	CN¥1.85	CN¥1.89	CN¥2.02	CN¥0.77	CN¥1.12	CN¥1.44	CN¥0.65
EPS (diluted)	CN¥1.49	CN¥1.01	CN¥1.38	CN¥1.28	CN¥1.66	CN¥1.85	CN¥1.89	CN¥2.02	CN¥0.77	CN¥1.11	CN¥1.44	CN¥0.65
Shares (basic, weighted)	1.49B	1.49B	2.07B	2.07B	2.07B	2.07B	2.07B	2.05B	2.06B	2.05B	2.06B	2.06B
Shares (diluted, weighted)	1.49B	1.49B	2.07B	2.07B	2.07B	2.07B	2.07B	2.05B	2.06B	2.06B	2.06B	2.06B
Depreciation & amortization	CN¥195M	CN¥189M	CN¥189M	CN¥244M	CN¥244M	CN¥268M	CN¥268M	CN¥337M	CN¥0	CN¥0	CN¥347M	CN¥0
EBITDA	CN¥3.02B	CN¥2.85B	CN¥3.46B	CN¥3.7B	CN¥4.52B	CN¥4.83B	CN¥4.5B	CN¥5.59B	CN¥1.75B	CN¥2.71B	CN¥3.19B	CN¥1.92B

Income statement	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	CN¥6B	CN¥8.89B	CN¥10.4B	CN¥13B	CN¥19.3B	CN¥24.1B	CN¥40.3B	CN¥72.3B	CN¥77.9B	CN¥89.2B
Cost of revenue	CN¥4.55B	CN¥6.49B	CN¥7.84B	CN¥9.96B	CN¥14.9B	CN¥19B	CN¥30.8B	CN¥53.8B	CN¥55.3B	CN¥60.8B
Gross profit	CN¥1.46B	CN¥2.4B	CN¥2.53B	CN¥3.04B	CN¥4.38B	CN¥5.09B	CN¥9.45B	CN¥18.4B	CN¥22.6B	CN¥28.4B
Research & development	CN¥262M	CN¥352M	CN¥482M	CN¥636M	CN¥806M	CN¥1.16B	CN¥1.69B	CN¥2.45B	CN¥3.16B	CN¥4.17B
Sales & marketing	CN¥279M	CN¥511M	CN¥684M	CN¥904M	CN¥954M	CN¥1.53B	CN¥3.07B	CN¥2.7B	CN¥3.56B	CN¥1.78B
General & administrative	CN¥412M	CN¥233M	CN¥266M	CN¥324M	CN¥370M	CN¥453M	CN¥580M	CN¥852M	CN¥1.16B	CN¥874M
Other operating expenses	-CN¥108M	CN¥157M	CN¥181M	CN¥129M	CN¥82.5M	CN¥46.9M	-CN¥24.5M	CN¥953M	CN¥1.13B	CN¥5.27B
Operating expenses	CN¥845M	CN¥1.25B	CN¥1.61B	CN¥1.99B	CN¥2.21B	CN¥3.19B	CN¥5.31B	CN¥6.95B	CN¥9.01B	CN¥12.1B
Operating income	CN¥613M	CN¥1.15B	CN¥912M	CN¥1.05B	CN¥2.17B	CN¥1.9B	CN¥4.14B	CN¥11.5B	CN¥13.6B	CN¥16.3B
Interest income	CN¥28M	CN¥22.4M	CN¥93.9M	CN¥58.7M	CN¥81.7M	CN¥155M	CN¥77.8M	CN¥89.6M	CN¥257M	CN¥393M
Interest expense	CN¥31.4M	CN¥53.8M	CN¥90M	CN¥121M	CN¥121M	CN¥163M	CN¥266M	CN¥319M	CN¥535M	CN¥347M
Other non-operating income (gains on investments, FX ...)	CN¥13.8M	-CN¥64.6M	CN¥103M	-CN¥412K	-CN¥36M	CN¥239M	CN¥585M	-CN¥23.9M	CN¥28.7M	-CN¥312M
Total non-operating income	CN¥55.6M	CN¥16.5M	CN¥10.2M	-CN¥16.1M	CN¥13.2M	-CN¥4.91M	-CN¥7.18M	-CN¥6.49M	-CN¥19.9M	-CN¥35.3M
Income before tax	CN¥668M	CN¥1.16B	CN¥923M	CN¥1.03B	CN¥2.18B	CN¥1.89B	CN¥4.13B	CN¥11.5B	CN¥13.5B	CN¥16.3B
Income tax	CN¥122M	CN¥147M	CN¥105M	CN¥120M	CN¥206M	CN¥189M	CN¥438M	CN¥1.85B	CN¥2.28B	CN¥2.73B
Net income	CN¥554M	CN¥1.02B	CN¥810M	CN¥893M	CN¥1.95B	CN¥1.58B	CN¥3.59B	CN¥9.44B	CN¥11B	CN¥13.5B
EPS (basic)	CN¥0.41	CN¥0.71	CN¥0.56	CN¥0.61	CN¥1.34	CN¥1.08	CN¥1.73	CN¥4.54	CN¥5.32	CN¥6.55
EPS (diluted)	CN¥0.41	CN¥0.71	CN¥0.56	CN¥0.61	CN¥1.34	CN¥1.08	CN¥1.73	CN¥4.55	CN¥5.32	CN¥6.53
Shares (basic, weighted)	1.35B	1.44B	1.45B	1.46B	1.46B	1.47B	1.48B	1.49B	2.07B	2.06B
Shares (diluted, weighted)	1.35B	1.44B	1.45B	1.46B	1.46B	1.47B	1.48B	1.49B	2.07B	2.06B
Depreciation & amortization	CN¥55.6M	CN¥127M	CN¥147M	CN¥226M	CN¥243M	CN¥347M	CN¥468M	CN¥678M	CN¥865M	CN¥1.16B
EBITDA	CN¥654M	CN¥1.34B	CN¥956M	CN¥1.27B	CN¥2.45B	CN¥2.01B	CN¥4.02B	CN¥12.2B	CN¥14.4B	CN¥17.8B

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.

Revenue, operating income and growth

quarterly

Margins

quarterly

Costs as % of revenue

quarterly

The other statements

Balance sheetCash, investments, assets, debt, liabilities and equityOpen 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