In 2023, the global renewable energy market is poised for rapid expansion, with Sungrow prioritizing its core business, enhancing innovation and transformation, investing heavily in market research and development, and implementing a comprehensive strategy for products and services. Sungrow's commitment to digitalization, streamlining operations, and fostering rapid growth in its core business has resulted in reinforced brand potential and an industry-leading position, ultimately leading to a significant boost in profitability.
Sungrow's operating revenue experienced an impressive year-on-year surge of 79.5% in 2023, reaching a staggering
The company has witnessed a remarkable surge in PV inverter shipments, surpassing 130GW, indicating a widespread embrace of solar energy globally. Furthermore, Sungrow's sales of energy storage systems have escalated dramatically to 10.5GWh, driven by the escalating demand for both grid-connected and off-grid applications.
Sungrow's investments in research and development (R&D) have consistently borne fruit, evident from the successful introduction of an array of cutting-edge products throughout the fiscal year. This year, the company allocated
The innovations encompass several groundbreaking achievements. Among them are the world's first 2000V inverter connected to the grid, the introduction of the world's first 10MWh liquid cooling energy storage system, the successful deployment of its C&I liquid cooling energy storage system, the release of the industry's inaugural "Stem Cell Grid Technology White Paper", the successful demonstration of the grid-forming wind power converter, the introduction of flexible green hydrogen production system, and the global launch of the 180kW Integrated DC Fast Charger and etc.
The company's strong financial performance has allowed it to expand its operations and strengthen its global presence. As of the previous year, Sungrow had exceeded 20 subsidiaries, successfully marketing its products in 170 nations and regions. Additionally, it boasted over 490 service outlets across six major service areas globally.
Simultaneously, the overseas employee count reached 1423, representing a year-on-year increase of 58.1%.
Over the course of the past year, the company's brand awareness and reputation have steadily risen, earning multiple prestigious accolades such as "
The year 2023 was an exceptional one for Sungrow. Its power electronic converters has accumulated an installed capacity of over 515GW, about 330 million tons of carbon dioxide emissions can be avoided annually together with our customers. The company is committed to sustainable development practices and aims to achieve carbon neutrality at the operational level by 2028, across its entire supply chain by 2038, and reach net-zero emissions across the chain by 2048. As part of its accelerated RE100 goal, the proportion of green electricity used throughout the year has risen to 55%, and global volunteer service projects have been launched, with a total of 1,352 registered volunteers contributing 3,442 hours of service so far.
Looking ahead, Sungrow remains committed to the realm of clean power, prioritizing solar, wind, energy storage, and green hydrogen. The company strives to innovate consistently, aiming to make remarkable advancements in power electronics, grid support, and AI technology. Sungrow aims to provide integrated solutions, enhance the customer experience, and bolster its brand image. By executing this strategy, Sungrow aims to further expand its position as a global leader, enabling it to achieve sustainable and high-quality development.
About Sungrow
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