Sungrow continues to strengthen its technological capabilities by reinforcing the development of a high-end scientific and technical talent pool. It has established six major R&D centers in Hefei, Shanghai, Nanjing, Shenzhen, Germany, and the Netherlands, focusing on the research and development, manufacturing, sales, and services of renewable energy power equipment for applications including solar energy, wind energy, energy storage, and electric vehicles. In 2025, the Xi’an R&D Center was put into operation, and the European Hydrogen Technology Laboratory commenced operations. Sungrow continued to increase its investment in research and development. In 2024, it set a target to ensure that total annual R&D investment would be no less than the previous year’s level, which was successfully achieved by year-end. Total R&D investment for the year reached RMB 3.16 billion(USD 439.6 million), representing a year-on-year increase of 29%. From 2020 to 2024, Sungrow recorded significant growth in R&D investment for five consecutive years, amounting to RMB 0.81 billion(USD 112.7 million), RMB 1.16 billion(USD 161.4 million), RMB 1.69 billion(USD 235.1 million), RMB 2.45 billion(USD 340.8 million), and RMB 3.16 billion(USD 439.6 million), respectively, with annual growth rates of 44.04%, 45.74%, 44.62%, and 29.30%, respectively. By continuously consolidating its leadership in technology and products, Sungrow remains focused on next-generation power systems, strengthens forward-looking research in areas such as power electronics and grid-forming support technologies, and promotes the deep integration of AI into R&D and core product processes, thereby delivering products that provide customers with sustained competitive advantages.