净利润大涨超50%！光储“一哥”股价再创历史新高

Core Viewpoint - The stock price of Sunshine Power (300274.SZ) surged significantly, reaching a historical high, driven by strong Q3 performance and positive market sentiment in the photovoltaic and energy storage sectors [2][3]. Financial Performance - In Q3 2025, Sunshine Power reported revenue of 22.869 billion yuan, a year-on-year increase of 20.83%, and a net profit of 4.147 billion yuan, up 57.04%, marking the highest quarterly net profit since its listing [2]. - For the first three quarters of 2025, total revenue reached 66.402 billion yuan, a 32.95% increase year-on-year, with net profit at 11.881 billion yuan, reflecting a 56.34% growth [2]. Business Segments - The significant growth in performance is attributed to the core businesses of energy storage systems and photovoltaic inverters, with energy storage system shipments increasing by 70% year-on-year and overseas shipments rising from 63% to 83% [3]. - The revenue from photovoltaic inverters grew approximately 6%, with improved profitability across various markets due to market structure optimization [3]. Market Outlook - Sunshine Power aims to achieve an energy storage shipment target of 40-50 GWh for the year and is confident in meeting this goal, with expectations of continued high growth in the global energy storage market of 40%-50% next year [3]. - The company ranks second among global energy storage system integrators, following Tesla, according to InfoLink's 2024 rankings [3]. Stock Market Activity - Following the stock price increase, company executives, including the vice chairman, have decided to halt their planned share reductions to avoid short-term trading, despite an earlier intention to sell up to 424,900 shares [4].