Sungrow Power Supply(SZ:300274) 行家说储能·2025-08-25 12:50Core Viewpoint - The company, Sungrow Power Supply Co., Ltd., announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and brand image while diversifying its financing channels [2]. Financial Performance - In the first half of 2025, the company achieved a revenue of 43.53 billion yuan, a year-on-year increase of 40.34%, and a net profit attributable to shareholders of 7.73 billion yuan, up 55.97% [2]. - The company proposed a cash dividend of 9.50 yuan per 10 shares (tax included) [2]. Revenue Breakdown - Revenue from the energy storage sector reached 17.80 billion yuan, representing a significant year-on-year growth of 127.78%, with a gross margin of 39.92% [3][4]. - The photovoltaic sector generated 22.51 billion yuan, accounting for 51.72% of total revenue, with a modest growth of 4.84% [4]. - Other segments contributed 3.22 billion yuan, showing an increase of 85.96% [4]. Regional Performance - Revenue from mainland China (excluding Hong Kong, Macau, and Taiwan) was 18.15 billion yuan, a 3.48% increase year-on-year [4]. - Overseas revenue surged to 25.38 billion yuan, marking an 88.32% growth compared to the previous year [4]. Product Innovations - The company launched the PowerTitan 3.0 AC storage platform, featuring models with capacities ranging from 3.45 MWh to 12.5 MWh, utilizing advanced technologies [6]. - The PowerTitan 2.0 system, a 10 MWh all-liquid cooling energy storage solution, has been widely adopted in various projects globally [6]. - The PowerStack 835CS system for industrial applications has been implemented in high-energy-consuming sectors such as steel and automotive [7]. Future Plans - The company plans to issue global depositary receipts (GDRs) based on new A-shares, aiming to raise up to 4.88 billion yuan for advanced energy storage equipment manufacturing and other projects [8]. - The board approved the permanent allocation of surplus fundraising to enhance liquidity for daily operations [9]. Market Capitalization - As of the latest closing, the company's market capitalization stands at 212.7 billion yuan [10].