Sungrow posts $1.3 billion profit for 2023

Chinese inverter manufacturer Sungrow shipped 130 GW of inverters last year, reaching a profit of $1. 3 billion. Chinese inverter and battery producer Sungrow reported annual revenue of approximately $10. 18 billion for 2023, marking a significant increase of 79. 47% from the preceding year. Its net profit attributable to shareholders of listed companies hit $1. 33 billion, up 162. 69% year on year. Sungrow credited the growth in its profit margin to factors such as the expanding brand premium, product innovation, scale effects, and reductions in freight costs and foreign exchange gains. Sungrow's ...

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