Sungrow Surpasses Longi as Top Solar Energy Firm

• Sungrow Power Supply Co. surpasses Longi Green Energy as the world's top solar company, with a focus on inverter sales and battery storage for sustainable growth.

Sungrow Power Supply Co. has overtaken Longi Green Energy Technology Co. as the world's most valuable solar energy company, as declining equipment prices put pressure on manufacturers of panel components. Sungrow, based in Hefei, China, generates the majority of its revenue from inverter sales, which are crucial for converting solar electricity into usable power for grids. Citigroup Inc. noted that Sungrow's product mix offers high volume growth and sustainable margins.

On the other hand, Longi, a major player in solar module production, has seen its market value drop by over 70% from its peak in 2021 due to oversupply in the market. The company plans to lay off thousands of workers to stay competitive. Sungrow's market capitalization has now surpassed Longi's, making it the most valuable solar energy firm globally. Additionally, Sungrow is benefiting from China's growing battery-storage capacity, which nearly quadrupled last year, with a quarter of its revenue coming from this segment. The company expects a significant increase in net income in 2023.

In trading on Tuesday, Sungrow's stock rose by 1.1% in Shenzhen, while Longi saw a 0.9% increase in Shanghai. Despite their success in the solar energy sector, both companies still lag behind China's leading energy firm, PetroChina Co., in terms of valuation. Sungrow's focus on inverter sales and battery-storage capacity has helped it outperform Longi and other competitors in the industry, positioning it as a key player in the global solar energy market.

Is Sungrow Power Supply Co. now the world's most valuable solar energy company?

• Sungrow Power Supply Co. has overtaken Longi Green Energy Technology Co. as the world's most valuable solar energy company
• Sungrow, based in Hefei, China, generates the majority of its revenue from inverter sales, crucial for converting solar electricity into usable power for grids
• Citigroup Inc. noted that Sungrow's product mix offers high volume growth and sustainable margins
• Longi, a major player in solar module production, has seen its market value drop by over 70% from its peak in 2021 due to oversupply in the market
• Longi plans to lay off thousands of workers to stay competitive
• Sungrow's market capitalization has now surpassed Longi's, making it the most valuable solar energy firm globally
• Sungrow is benefiting from China's growing battery-storage capacity, with a quarter of its revenue coming from this segment
• Sungrow expects a significant increase in net income in 2023
• Sungrow's stock rose by 1.1% in Shenzhen, while Longi saw a 0.9% increase in Shanghai in trading on Tuesday
• Despite their success, both companies still lag behind China's leading energy firm, PetroChina Co., in terms of valuation
• Sungrow's focus on inverter sales and battery-storage capacity has helped it outperform Longi and other competitors in the industry, positioning it as a key player in the global solar energy market.