Sungrow Power records over 1.2 bn yuan in impairment losses

Sungrow Power Supply has provisioned for credit and asset impairment losses totaling 1,280,429,082.35 yuan for the first three quarters of 2025. This includes 323,132,072.02 yuan for credit impairment, mainly from accounts receivable, other receivables, and notes receivable, and 957,297,010.33 yuan for asset impairment, primarily from contract assets, inventories, and contract fulfillment costs.

The impairment charges are expected to reduce the company's operating profit for the first three quarters of 2025 by 1,280,429,082.35 yuan. The interim financial report notes that asset impairment losses for 2025 increased by 207.17% compared to the previous year, mainly due to increased inventory depreciation.

Despite these provisions, Sungrow Power reported a total revenue of 66,401,909,119.56 yuan for the first nine months of 2025, an increase of 32.95% year-over-year. Net profit attributable to shareholders also grew by 56.34% to 11,881,223,611.34 yuan.