Sungrow's H1 2026 profit falls nearly a third

Sungrow reported H1 2026 revenue of RMB30.91 billion, down 28.99% year over year, and net profit of RMB5.26 billion, down 32.01%, extending a reversal that began in Q1 as falling storage prices and intensifying competition squeezed margins. Energy storage revenue held up better than the company overall at RMB15.46 billion (down 13.18%), crossing 50% of total revenue for the first time as PV inverter sales fell even further; shares dropped as much as 8.4% in Shenzhen on August 31 to a one-year low.