Technology

Sungrow Achieves US$4.4 billion Revenue in 2024H1, Marking an 8.38% Year-Over-Year Increase

Published

4 months ago

August 29, 2024

HEFEI, China, Aug. 29, 2024 /PRNewswire/ — Sungrow, the globally renowned renewable energy company, recently unveiled its financial results for the first half of 2024.

Under the global imperative of low-carbon emissions, the renewable energy industry continues to grow, propelled by a confluence of factors including policy directives, economic advancements, and technological advancements.

In the reporting period, the company sustained its leadership in the production and distribution of premium renewable energy products and solutions such as PV inverters, energy storage systems, wind converters, floating PV systems, new energy vehicle (NEV) driving solutions, electric vehicle (EV) charging solutions, and renewable hydrogen production systems on the global market.

While the market conditions fluctuated, the company maintained its strategic alignment for growth.

Financial Highlights

Sungrow experienced a twofold increase in both revenue and net profit during the first half of the year. In this six-month period, the company’s operating income reached US$4.4 billion[1], marking an 8.38% rise from the previous year’s figures. Additionally, net profit attributable to shareholders of listed companies surged 13.89% year-over-year, totaling US$0.7 billion.

Regarding product performance, PV inverters and other power electronic converters generated revenues of US$1.8 billion in the period, marking a 12.63% increase compared to the previous year. Additionally, renewable energy investment and development businesses brought in revenues of US$1.3 billion, an 18.45% year-over-year growth. Notably, the photovoltaic power generation sector experienced the fastest revenue growth rate, with a staggering 44.88% increase compared to the same period last year.

Simultaneously, the company’s PV inverters and other power electronic converters achieved a gross profit margin of 37.62%, energy storage systems reached 40.08%, and the renewable energy investment and development sector reported a margin of 16.88%. Each of these sectors experienced a year-over-year increase.

Technical prowess constitutes the bedrock of corporate advancement. Throughout the half year, Sungrow allocated a total of US$0.2 billion towards research and development expenditures, marking a 41.65% increase compared to the previous year.

Business Highlights

After 27 years of relentless innovation, Sungrow has emerged as a global leader in the renewable energy sector, with a robust portfolio of new energy equipment encompassing “solar, wind, storage, electric vehicle and hydrogen” technologies. The company’s PV inverters have achieved a remarkable feat by being exported to over 170 countries and regions worldwide. In a testament to its global standing, Sungrow has been ranked as the global No.1 position in PV inverter shipments for 2023 according to S&P Global Commodity Insights. Leveraging its world-class power electronics, electrochemistry, and grid support integrated technology, Sungrow has crafted professional energy storage systems that have seen global shipments reach an impressive 10.5 GWh in 2023.

In the realm of wind energy, Sungrow’s wind converters have secured the distinction of being the world’s top shipped volume (source: Brinckmann), while its floating PV system has consistently held the top spot in global market share for seven consecutive years (source: S&P Global Commodity Insights).

Sungrow has affirmed its dedication to achieving carbon neutrality and net-zero goals in its ESG development. The company aspires to achieve carbon neutrality at the operational level by 2028, extend this to its entire supply chain by 2038, and aim for net-zero emissions across the supply chain by 2048. During the reporting period, at the operational level, Sungrow utilized a total of 75,980 MWh of green electricity, sourced from both direct purchases and rooftop photovoltaic systems. This resulted in a direct reduction of greenhouse gas emissions by 43,331 metric tons of CO2[2].

Furthermore, the company actively contributes to society, placing a strong emphasis on ecological conservation, supporting technological innovation, education, talent development, community and rural revitalization, emergency relief, and various other sectors. It undertakes a series of philanthropic and volunteer service initiatives globally, actively fulfilling its corporate social responsibilities. The cumulative expenditure on public welfare activities in the first half of the year surpassed US$0.9 million.

[1] The data on the US dollar presented in this article have been converted using the monthly average exchange rate.

[2] The emission factor used in the calculation is selected from the 2022 national grid average emission factor of 0.5703t CO2/MWh released by the Ministry of Ecology and Environment.

About Sungrow
Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 27 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the most bankable Asian energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com.

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SOURCE Sungrow Power Supply Co., Ltd.

Technology

Acer Debuts on Dow Jones Sustainability World Index 2024

Published

11 minutes ago

December 24, 2024

Representing Top 10% of the largest 2,500 Companies in S&P BMI on long-term economic, environmental and social criteria

TAIPEI, Dec. 23, 2024 /PRNewswire/ — Acer Inc. (TWSE: 2353) announced its debut on the Dow Jones Sustainability (DJSI) World Index 2024, which comprises of the global sustainability leaders identified by S&P Global’s Corporate Sustainability Assessment (CSA). The DJSI World Index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental and social criteria.

At the same time, Acer was listed on DSJI’s Emerging Markets Index for the 11th consecutive year in 2024, ranking among the top companies in the THQ (Computers & Peripherals and Office Electronics) industry and scoring in the 100th percentile with full marks across various components: Transparency & Reporting, Materiality, and Customer Relationship Management.

Acer’s commitment to making a positive impact on environmental sustainability includes joining the RE100 initiative, setting the goals to source 100% renewable electricity by 2035 and to achieve net zero emissions by 2050. In 2023 the Acer Group sourced 48% renewable electricity worldwide, with 100% renewable electricity sourced in multiple countries. Acer’s efforts have been recognized in growing capacity by global sustainability accolades and indices throughout 2024:

Listed among TIME’s World’s Most Sustainable Companies.Listed in the MSCI ESG Leaders Indexes for the 11th consecutive year, garnering the best rating of “AAA”[1] that represents the top 15% in the category of technology hardware, storage and peripherals industry.Awarded Platinum medal for EcoVadis’ Sustainability Ratings for the third straight year, the highest tier of recognition representing the top 1% of rated companies[2] evaluated on sustainability across global supply chains based on four key themes: environment, labor and human rights, ethics, and sustainable procurement.A constituent of the FTSE4Good Emerging Index for the ninth consecutive year.In the subcategory FTSE4Good TIP Taiwan ESG Index[3] supported by the Taiwan Stock Exchange, which integrates ESG management practices and financial performances of companies, for the seventh year.

Acer continues to research and design climate-conscious solutions that serve both humanity and the planet, providing greener choices for a brighter future. Its eco-conscious offering includes computers and display products built with recycled materials and energy-efficient solutions, lifestyle products such e-bikes and e-scooters, energy storage solutions, along with award-winning packaging designs to contribute to the industry.

[1] MSCI ESG AAA Rating as of November 26, 2021, updated on December 10, 2024

[2] Ecovadis rating, August 2024

[3] First Taiwan domestic benchmark developed using FTSE ESG Ratings and data model, developed in partnership with Taiwan Stock Exchange’s (TWSE) wholly-owned subsidiary, Taiwan Index Plus Corp. (TIP)

About Acer

Founded in 1976, Acer is one of the world’s top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer’s 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

© 2024 Acer Inc. All rights reserved. Acer and the Acer logo are registered trademarks of Acer Inc. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. All offers subject to change without notice or obligation and may not be available through all sales channels. Prices listed are manufacturer suggested retail prices and may vary by location. Applicable sales tax extra.

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SOURCE Acer

Technology

LG ACHIEVES 13TH CONSECUTIVE YEAR IN DOW JONES SUSTAINABILITY WORLD INDEX

Published

11 minutes ago

December 24, 2024

Only South Korean Company Recognized in Leisure Equipment & Products and Consumer Electronics Category for 13 Years

ENGLEWOOD CLIFFS, N.J., Dec. 23, 2024 /PRNewswire/ — LG Electronics (LG) has once again secured its position in the Dow Jones Sustainability World Index (DJSI World) for the thirteenth consecutive year. The DJSI World ranks the top 10 percent of the largest 2,500 global companies based on their economic, environmental, social, and governance (ESG) practices, serving as a critical benchmark for investors assessing corporate sustainability.

Notably, LG earned the highest overall score in the Leisure Equipment & Products and Consumer Electronics industry category. Furthermore, it remains the only South Korean company to be included in this category for 13 years running.

Additionally, LG has been included in the DJSI Asia Pacific (top 20 percent of the 600 largest companies in the Asia-Pacific region) and DJSI Korea (top 30 percent of the 200 largest companies in Korea) for 15 and 16 consecutive years, respectively.

LG received high evaluations across various ESG areas, including environmental policy and management, human rights management, human resource management, customer relations, supply chain management and product responsibility management.

Under the ESG management vision of Better Life for All, LG is carrying out various activities with the strategy of 3C for the planet (Carbon neutrality, Circularity, and Clean technology) and 3D for people (Decent workplace, Diversity & inclusion, and Design for all).

To achieve its 3C goals for the planet, LG has set ambitious targets, including reaching carbon neutrality in its product manufacturing process by 2030 and transitioning to 100 percent renewable energy by 2050.

Specifically, LG plans to reduce direct greenhouse gas emissions (Scope 1) and indirect greenhouse gas emissions (Scope 2) in the product production stage by 54.6 percent compared to 2017 levels. This will be accomplished through process improvements, the introduction of energy-saving technologies and the use of renewable energy. Notably, LG was the first company in the home appliance industry to obtain UN carbon credits in 2015.

In addition, LG is focused on reducing the unit greenhouse gas emissions of its seven major product groups (TVs, refrigerators, washing machines, dryers, home and system air conditioners, and monitors) by 20 percent compared to 2020 levels during the product use stage (Scope 3). This commitment involves various activities aimed at improving the energy efficiency of individual products, thereby reducing overall carbon emissions.

As a member of the UN Global Compact and the Responsible Business Alliance, LG complies with international human rights and labor standards and is enhancing its human rights management processes to respond to strengthening global ESG-related legislation.

In the ESG evaluation and rating announcement results published by the Korea Corporate Governance Service this year, LG received an overall A grade for four consecutive years. LG also received an A grade for five consecutive years in the ESG evaluation conducted by the global ESG evaluation agency Morgan Stanley Capital International, gaining recognition for its ESG management performance from credible domestic and international institutions.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $68 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. The company’s commitment to environmental sustainability and its “Life’s Good” marketing theme encompass how LG is dedicated to people’s happiness by exceeding expectations today and tomorrow. For more information, visit www.LG.com.

Media Contacts:

LG Electronics USA

JL Lavina
jl.lavina@lge.com
www.LG.com

Jennifer Tayebi
Jennifer.tayebi@lg-one.com
LGHAUS@lg-one.com

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SOURCE LG Electronics USA

Technology

CAS and PetroChina Shanghai Advanced Materials Research Institute announce a collaboration to accelerate new materials discovery and innovation

Published

11 minutes ago

December 24, 2024

SHANGHAI and COLUMBUS, Ohio, Dec. 23, 2024 /CNW/ — CAS, a division of the American Chemical Society specializing in scientific knowledge management, and PetroChina Shanghai Advanced Materials Research Institute Co., Ltd, a subsidiary of the world’s third largest oil company, China National Petroleum Corporation (CNPC), are collaborating for use of the CAS SciFinder Discovery Platform™ to accelerate research and discovery of new chemical materials.

PetroChina Shanghai Advanced Materials Research Institute Co., Ltd. was founded in 2021 to address key technological challenges in advanced chemical materials and drive a transformation of CNPC from a traditional refinery and petrochemical product provider to a more advanced and sustainable material provider. Its research focus includes high-performance engineering materials, high-performance polyolefin and elastomers, special catalysts, advanced membranes, fibers and composites, etc.

CAS, the creator of the world’s most comprehensive and authoritative curated scientific information resource, the CAS Content Collection™, which covers over 150 years of discoveries, provides content and knowledge management solutions and services that accelerate innovation. The CAS SciFinder Discovery Platform, an authoritative scientific technology solution, will enable the institute research scientists to discover more relevant information faster, identify and optimize synthetic routes through a full retrosynthetic analysis of known and undisclosed substances, and locate, compare, and understand scientific methods via the CAS Content Collection.

“We’re excited that PetroChina Shanghai Advanced Materials Research Institute will harness the CAS SciFinder Discovery Platform to accelerate their research and discovery initiatives. Combining the capabilities of this industry-leading CAS solution with the Research Institute’s expertise in material research will result in breakthroughs that bring advanced sustainable materials to the marketplace,” said Manuel Guzman, President of CAS.

PetroChina Shanghai Advanced Materials Research Institute, as a newly established innovation hub, aims to grow into a world-leading, multi-capabilities research institute that drives cutting-edge innovations, pilots industrial-scale technologies, provides technical services, and facilitates academic and value chain collaborations.

“We are very pleased to cooperate with CAS, who will be a strong partner in bringing their sophisticated scientific information solutions to facilitate and speed up our approach to advanced sciences and technologies in novel materials. We are looking forward to exploring more innovative ideas through our engagement with CAS,” said Xudong Huang, Vice President of PetroChina Shanghai Advanced Materials Research Institute.

About CAS

CAS connects the world’s scientific knowledge to accelerate breakthroughs that improve lives. We empower global innovators to efficiently navigate today’s complex data landscape and make confident decisions in each phase of the innovation journey. As a specialist in scientific knowledge management, our team builds the largest authoritative collection of human-curated scientific data in the world and provides essential information solutions, services, and expertise. Scientists, patent professionals, and business leaders across industries rely on CAS to help them uncover opportunities, mitigate risks, and unlock shared knowledge so they can get from inspiration to innovation faster. CAS is a division of the American Chemical Society. Connect with us at cas.org.

About PetroChina Shanghai Advanced Materials Research Institute

PetroChina Shanghai Advanced Materials Research Institute, located in the Lingang Shanghai, was established in December 2021. It is a wholly owned subsidiary of China National Petroleum Corporation (CNPC) with innovation functions in fundamental research, product development, industrial-scale piloting, technical service and academic collaborations. The research areas cover a broad spectrum of novel chemical materials for the markets of electronics, medical, transportation and new energy.

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SOURCE CAS