Sungrow has reported 14.55% annual growth in its total revenue for FY2025
Its ESS segment saw strong growth, with shipments totaling 43 GWh and revenue up 49.39% YoY, increasing its share in the business mix
Inverter shipments declined slightly to 143 GW, while overseas markets drove growth with a nearly 49% rise in revenue
Sungrow Power, the tier-I global solar PV inverter and energy storage system (ESS) provider, reported steady financial growth in FY2025, with total revenue up 14.55% annually to RMB 89.2 billion.
At RMB 13.46 billion, the company’s net profit for the year increased by 21.97% year-on-year (YoY). The China-headquartered company attributes the profit growth to strong branding, product innovation, and cost advantages from scaling up operations.
Sungrow shipped 143 GW of solar PV inverters in 2025 across continents, down 2.72% from 147 GW in FY2024, with its contribution to total revenue declining 7% YoY to RMB 44.55 billion. Its inverter production also dropped by 16.17% annually to 140 GW.
Compared with its core inverter business, the ESS segment continues to expand as global demand for storage rises. Its shipments of 43 GWh added RMB 37.28 billion to the company’s revenue for the year, representing a 49.39% annual increase.
Both of these business divisions accounted for close to 50% and 25% of revenue compared to 61.5% and 32.06% in FY2024, respectively. This shows the growing share of the ESS business.
Geographically, it was the overseas market that drove the business, with revenue increasing 48.76% YoY to account for 60.5% of total revenue.
The manufacturer says that despite the global solar PV industry facing intense competition and a complex international environment last year, Sungrow’s strategy was focused on innovation, improving product quality, leveraging digital tools, and supporting global customers.
In terms of technology, Sungrow released the world’s ‘largest’ capacity PowerTitan 3.0 AC intelligent storage platform in 3 versions – Flex, Class, and Plus – last year. The Plus version has a single cabinet capacity of 3.125 MW/12.5 MWh, the ‘largest’ globally, and it saves 32% of the floor space required for a GWh power station, reducing CapEx, says Sungrow.
Among its other product launches in FY 2025, Sungrow introduced the SG465HX high-power string inverter with a capacity of 465 kW. The company calls it the world’s 1st 400 kW+ string inverter.
As part of its strategy to maintain competitiveness, Sungrow increased its R&D investment by 31.97% annually to RMB 4.17 billion. It filed 2,293 new patent applications during the reporting year, including 271 foreign applications and 2,022 domestic applications.
