Sungrow Predicts 107-130% Net Profit Increase for 2020

PVTIME - On the evening of January 25, Sungrow disclosed its performance forecast for 2020.

For the reporting period, the company expects to achieve revenue of 19-20 billion yuan, an increase of 46%-54% over the same period last year; net profit is expected to be between 1.85-2.05 billion yuan, a year-on-year increase of 107%-130%; and net profit after deducting non-recurring gains and losses is 1.61-1.81 billion yuan, a year-on-year increase of 78%-100%.

For the same period last year, the company achieved revenue of 13.003 billion yuan, net profit of 893 million yuan, and net profit after deducting non-recurring gains and losses of 905 million yuan.

The company stated that the main reason for the growth in performance was that during the reporting period, the company actively took measures to deal with the adverse effects of the pandemic, continued to accelerate global strategic deployment, significantly improved operation scale, increased R&D investment, optimized product structure, and focused on core business markets.

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