Sungrow Releases 2019 CSR Report Elaborating Progress on Moving Toward a More Sustainable Future

PVTIME - Sungrow, the global leading inverter solution supplier for renewables, has released its 2019 Corporate Social Responsibility (CSR) report, elaborating its efforts in building a decarbonized and sustainable future for all stakeholders leveraging the power of clean energy technology and indicating its navigation in line with the UN Sustainable Development Goals (SDGs).

Engaging economic & environmental performance

The report shows the Company's revenue in 2019 increased by 25.4%
year-on-year to 1.864 billion and the net income attributable to
shareholders of the listed company came to $127.6 million, demonstrating huge strides forward in the year past.

Over 41.8% personnel were assigned to R&D team and an increase in investment in R&D was by 31.8% to $911.8 million
in 2019; the accumulative patent applications reached 2,000 with 500
new patent applications added to the pool in 2019, illustrating more
efforts were made in product innovations which is taken as priority by
Sungrow.

At the end of 2019, Sungrow became the first company ever to hit a
particular record of accumulative shipment surpassing 100GW in the
industry, equivalent to generating about 129,000 GWh of clean
electricity per year and eliminating 103 million tons of carbon dioxide.

Caring for employees

Sungrow reckons talents and human resource are the foundation of
technical innovation, and one of the most essential factors retaining
competitiveness in the market. The Company has been attracting thousands
of talents around the world, with people-oriented concepts, an
inclusive, multicultural and vibrant working environment.

The report unveils a growing investment of over $1.8
million in 2019 on equipment and operation in the safety field for the
sake of employees' safety. Meanwhile, the Company invested over $1.1 million on trainings to improve the comprehensive skills of employees.

Contributing to society

Acting as a responsible and reliable part of society, Sungrow has
supported 350,000 poverty-stricken households and 3,000 underdeveloped
villages with over 1.4 GWh electricity totally through PV-oriented
poverty alleviation programs as of December 2019.

In 2019, over $3.8 million was donated
to public welfare and charity undertakings based on the framework of
eradicating poverty and contributing to education, including an
initiative to donate bookstores to rural primary schools, sharing the
insights of solar with undergraduates, and offering scholarships at
universities and inviting students to visit the self-owned Teenager
Green Lab.

Most recently, Sungrow is trying to help with COVID-19, showing a
strong social responsibility as well. Notably in early 2020, Sungrow
donated 3 million yuan ($441,600) for the construction of Leishenshan Hospital, a temporary facility for treating patients infected with COVID-19 in Wuhan.
The Company has also worked with the non-profit organization Heart of
America to help improve healthcare conditions of the Navajo Nation in
the U.S. during the pandemic.

"With collective efforts made on different dimensions covering
economy, society and environment, a more sustainable planet is believed
to be created in the foreseeable future. We will continue to firmly
support the UN's SDGs and further fulfill our mission of 'Clean power
for all' with competitive product portfolio and comprehensive global
service," said Prof. Cao Renxian, Chairman of Sungrow.

Prof. Cao also highlighted that although Intersolar Europe 2020 was
canceled due to COVID-19, Sungrow will hold an unparalleled online smart
energy show held on 15th-19th June to bring forth latest innovations and engaging insights. Registration is accessible now: http://www.sungrowmarketing.com/

The CSR report is retrievable on the Sungrow official website, available here

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