HEFEI, China, April 29, 2021 /PRNewswire/ — Sungrow, the global leading inverter solution supplier for renewables, has released the annual report 2020 to shareholders, reporting that the fiscal performance remains prosperous and the global market share reached 27% in 2020.
Financials in 2020
- The revenue increased by 48.3% to $2.956 billion (2019: $1.864 billion).
- The net income attributable to shareholders of a listed company came to $298.9 million, an increase of 119.0% (2019: $127.6 million).
- The CFFO (cash flow from operations) increased by 24.5% to $473.6 million, a stellar and healthy operation structure.
- Turnover of accounts receivable was 2.5 times, an increase of 41.6%.
- Basic earnings per share thus amounted to 1.34 yuan (20.54 US cents), an increase of 119.7%.
Market Share Expansion
Sungrow had over 35 GW of PV inverters shipped in 2020, accelerating its global market share to 27%. Apart from the performance in…