HEFEI, China, June 8, 2020 /PRNewswire/ -- Sungrow, the global leading inverter solution supplier for renewables, has released its 2019 Corporate Social Responsibility (CSR) report, elaborating its efforts in building a decarbonized and sustainable future for all stakeholders leveraging the power of clean energy technology and indicating its navigation in line with the UN Sustainable Development Goals (SDGs).
Engaging economic & environmental performance
The report shows the Company's revenue in 2019 increased by 25.4% year-on-year to 1.864 billion and the net income attributable to shareholders of the listed company came to $127.6 million, demonstrating huge strides forward in the year past.
Over 41.8% personnel were assigned to R&D team and an increase in investment in R&D was by 31.8% to $911.8 million in 2019; the accumulative patent applications reached 2,000 with 500 new patent applications added to the pool in 2019, illustrating more efforts were made in product innovations which is taken as priority by Sungrow.
At the end of 2019, Sungrow became the first company ever to hit a particular record of accumulative shipment surpassing 100GW in the industry, equivalent to generating about 129,000 GWh of clean electricity per year and eliminating 103 million tons of carbon dioxide.
Caring for employees
Sungrow reckons talents and human resource are the foundation of technical innovation, and one of the most essential factors retaining competitiveness in the market. The Company has been attracting thousands of talents around the world, with people-oriented concepts, an inclusive, multicultural and vibrant working environment.
The report unveils a growing investment of over $1.8 million in 2019 on equipment and operation in the safety field for the sake of employees' safety. Meanwhile, the Company invested over $1.1 million on trainings to improve the comprehensive skills of employees.
Contributing to society
Acting as a responsible and reliable part of society, Sungrow has supported 350,000 poverty-stricken households and 3,000 underdeveloped villages with over 1.4 GWh electricity totally through PV-oriented poverty alleviation programs as of December 2019.
In 2019, over $3.8 million was donated to public welfare and charity undertakings based on the framework of eradicating poverty and contributing to education, including an initiative to donate bookstores to rural primary schools, sharing the insights of solar with undergraduates, and offering scholarships at universities and inviting students to visit the self-owned Teenager Green Lab.
Most recently, Sungrow is trying to help with COVID-19, showing a strong social responsibility as well. Notably in early 2020, Sungrow donated 3 million yuan ($441,600) for the construction of Leishenshan Hospital, a temporary facility for treating patients infected with COVID-19 in Wuhan. The Company has also worked with the non-profit organization Heart of America to help improve healthcare conditions of the Navajo Nation in the U.S. during the pandemic.
"With collective efforts made on different dimensions covering economy, society and environment, a more sustainable planet is believed to be created in the foreseeable future. We will continue to firmly support the UN's SDGs and further fulfill our mission of 'Clean power for all' with competitive product portfolio and comprehensive global service," said Prof. Cao Renxian, Chairman of Sungrow.
Prof. Cao also highlighted that although Intersolar Europe 2020 was canceled due to COVID-19, Sungrow will hold an unparalleled online smart energy show held on 15th-19th June to bring forth latest innovations and engaging insights. Registration is accessible now: http://www.sungrowmarketing.com/
The CSR report is retrievable on the Sungrow official website, available here (hyperlink).
About Sungrow
Sungrow Power Supply Co., Ltd ("Sungrow") is the world's most bankable inverter brand with over 100 GW to be installed worldwide as of December 2019. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 23-year track record in the PV space, Sungrow products power installations in over 60 countries, maintaining a worldwide market share of over 15%. Learn more about Sungrow by visiting www.sungrowpower.com.