Sungrow Power Supply Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Operating Revenue	94,160	77,704	72,159	40,109	24,099	19,230
Other Revenue	152.83	152.83	91.42	148.12	37.76	55.86
Revenue	94,313	77,857	72,251	40,257	24,137	19,286
Revenue Growth (YoY)	24.45%	7.76%	79.47%	66.79%	25.15%	48.31%
Cost of Revenue	64,221	55,282	53,833	30,803	19,050	14,905
Gross Profit	30,092	22,575	18,418	9,454	5,087	4,381
Selling, General & Admin	6,134	4,918	3,723	3,749	2,059	1,360
Research & Development	3,928	3,164	2,447	1,663	1,128	777.24
Other Operating Expenses	8.56	37.51	58.31	61.59	6.42	6.98
Operating Expenses	10,913	9,039	6,927	5,898	3,428	2,177
Operating Income	19,179	13,536	11,490	3,556	1,658	2,204
Interest Expense	-354.44	-391.87	-318.94	-209.09	-124.11	-97.63
Interest & Investment Income	888.03	676.3	294.89	118.16	417.97	204.11
Currency Exchange Gain (Loss)	-11.75	-11.75	208.73	665.24	-183.38	-208.63
Other Non Operating Income (Expenses)	-0.62	-308.35	-202.8	-105.21	-45.88	-31.98
EBT Excluding Unusual Items	19,701	13,500	11,472	4,026	1,723	2,070
Gain (Loss) on Sale of Investments	59.58	64.32	36.19	-29.61	66.44	1.91
Gain (Loss) on Sale of Assets	4.29	0.87	-4.64	-1.74	0.45	5.45
Asset Writedown	-651.05	-5.4	-48.72	-1.27	-3.24	-2.35
Other Unusual Items	-15.36	-15.36	4.92	141	106.01	106.31
Pretax Income	19,098	13,544	11,460	4,134	1,893	2,182
Income Tax Expense	3,605	2,280	1,851	438.39	188.68	206.03
Earnings From Continuing Operations	15,493	11,264	9,609	3,696	1,704	1,976
Minority Interest in Earnings	-174.68	-227.95	-169.18	-102.13	-121.29	-21.21
Net Income	15,318	11,036	9,440	3,593	1,583	1,954
Net Income to Common	15,318	11,036	9,440	3,593	1,583	1,954
Net Income Growth	56.05%	16.91%	162.69%	127.04%	-19.01%	118.96%
Shares Outstanding (Basic)	2,077	2,074	2,075	2,079	2,052	2,042
Shares Outstanding (Diluted)	2,077	2,074	2,075	2,079	2,052	2,042
Shares Change (YoY)	0.49%	-0.01%	-0.20%	1.32%	0.48%	-0.32%
EPS (Basic)	7.38	5.32	4.55	1.73	0.77	0.96
EPS (Diluted)	7.38	5.32	4.55	1.73	0.77	0.96
EPS Growth	55.29%	16.92%	163.22%	124.09%	-19.40%	119.67%
Free Cash Flow	18,368	9,282	4,239	-316.27	-3,304	2,128
Free Cash Flow Per Share	8.85	4.47	2.04	-0.15	-1.61	1.04
Dividend Per Share	2.030	1.080	0.689	0.157	0.079	0.100
Dividend Growth	194.50%	56.68%	338.76%	99.87%	-21.40%	100.00%
Gross Margin	31.91%	28.99%	25.49%	23.48%	21.07%	22.72%
Operating Margin	20.34%	17.39%	15.90%	8.83%	6.87%	11.43%
Profit Margin	16.24%	14.17%	13.06%	8.93%	6.56%	10.13%
Free Cash Flow Margin	19.48%	11.92%	5.87%	-0.79%	-13.69%	11.03%
EBITDA	20,060	14,255	11,996	3,926	1,956	2,438
EBITDA Margin	21.27%	18.31%	16.60%	9.75%	8.11%	12.64%
D&A For EBITDA	880.31	719.66	505.46	369.92	298.03	233.18
EBIT	19,179	13,536	11,490	3,556	1,658	2,204
EBIT Margin	20.34%	17.39%	15.90%	8.83%	6.87%	11.43%
Effective Tax Rate	18.88%	16.83%	16.15%	10.61%	9.97%	9.44%
Revenue as Reported	94,313	77,857	72,251	40,257	24,137	19,286
Advertising Expenses	-	145.92	110.04	40.75	34.2	27.43

Source: S&P Global Market Intelligence. Standard template. Financial Sources.