Jiangsu Shunfeng Photovoltaic Co., Ltd. reported a revenue of 19.9 billion CNY for the year 2024, reflecting a 1.6% decrease compared to the previous year. The net profit attributable to shareholders was 3.44 billion CNY, down 32.8% from the prior year. Additionally, the net profit from the company’s main business was 2.94 billion CNY, showing a 44.1% decline. The company’s operating cash flow for the year was 668.9 million CNY, which represents a 64.3% increase, while the earnings per share (EPS) stood at 2.7743 CNY.
In the fourth quarter, Shunfeng’s revenue reached 7.27 billion CNY, marking a 17.7% increase year-on-year. The net profit attributable to shareholders was 986.1 million CNY, up 2.3%, while the net profit from main business operations was 623.7 million CNY, down 57.3%. The EPS for this quarter was 0.7947 CNY.
By the end of the fourth quarter, the company’s total assets amounted to 83.33 billion CNY, an increase of 15.3% compared to the same period last year. The net assets attributable to shareholders were recorded at 63.57 billion CNY, reflecting a 0.3% decline year-on-year.
Facing fierce competition in the photovoltaic industry, Shunfeng continues to enhance its product development and market expansion efforts to boost its market share and product competitiveness.
In terms of business operations, the company’s core products, including micro-inverters and monitoring equipment, achieved sales of 12.27 billion CNY, with micro-inverter sales accounting for approximately 990 million units and monitoring equipment sales around 230 million units. Shunfeng also launched a micro-inverter product with a capacity of up to 5000W, which has gained significant market traction. Furthermore, during the reporting period, the company’s revenue from sales and maintenance services surged by 156.88% year-on-year.
In the international market, Shunfeng’s external sales revenue reached 12.82 billion CNY, representing a 64.31% increase. The company has established multiple overseas subsidiaries to strengthen its foothold in the global photovoltaic market.
Shunfeng is committed to technological innovation and market expansion, laying a strong foundation for sustainable growth in the future.
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