安徽首富，身价一日暴涨93亿

Core Viewpoint - The article highlights the significant growth and strategic transformation of Sungrow Power Supply Co., Ltd., particularly its shift towards energy storage systems, which have now become its primary revenue source, surpassing traditional photovoltaic inverter sales. This transition is set against a backdrop of a recovering market for Chinese core assets, as evidenced by the company's recent stock performance and plans for an H-share listing in Hong Kong [5][6][19]. Group 1: Company Performance and Financials - On September 3, 2025, Sungrow's stock surged by 15.30%, closing at 114.9 yuan, with a total market capitalization of 238.2 billion yuan. This increase has significantly boosted the wealth of its chairman, Cao Renxian, whose net worth rose by 30 billion yuan to 71.5 billion yuan over the past year [5]. - For the first half of 2025, Sungrow reported a revenue of 43.533 billion yuan, a year-on-year increase of 40.34%, and a net profit of 7.735 billion yuan, up 55.97% from the previous year [5]. - The company's energy storage system revenue reached 17.803 billion yuan in the first half of 2025, marking a staggering year-on-year growth of 127.78%, and accounting for 40.89% of total revenue [17]. Group 2: Strategic Shifts and Market Position - Sungrow's main business has shifted from photovoltaic inverters to energy storage systems, which now represent the largest revenue source. The share of photovoltaic inverters in total revenue has decreased to 35.21% [17]. - The gross margin for energy storage systems stands at 39.92%, compared to 35.74% for photovoltaic inverters, indicating a more profitable business model [18]. - The company has expanded its global footprint, with overseas revenue surpassing domestic revenue for the first time, achieving 25.379 billion yuan from international markets, a growth of 88.32% [19]. Group 3: Future Prospects and Global Expansion - Sungrow plans to issue H-shares and list on the Hong Kong Stock Exchange, following the trend of other major players in the energy storage sector. This move is expected to enhance its capital base and support its global expansion strategy [6]. - The company has established a strong presence in international markets, including significant projects in the Middle East and Europe, such as a 7.8 GWh storage project in Saudi Arabia and a 4.4 GWh order in the UK [18]. - The strategic decision to focus on energy storage aligns with global market demands and positions Sungrow favorably against competitors like BYD and CATL [17][19].