- Q1 2026 net profit reached RMB 101 million, reversing prior year loss.
- FY2025 revenue rose 31.93% YoY to RMB 8.88 billion.
- Overseas markets emerge as key earnings driver for inverters and energy storage.
Inverter and battery energy storage system supplier GoodWe Technologies has reported good results in both Q1 2026 and FY2025, supported by strong growth in overseas markets and rising demand for energy storage solutions.
The high quality inverter and energy storage solutions manufacturer recorded Q1 2026 operating revenue of RMB 2.36 billion, reflecting a 25.42% increase YoY. Net profit attributable to shareholders reached RMB 101 million, compared to a loss of RMB 28 million in the same period last year.
The company attributed this turnaround to improved sales volumes and higher margins from its overseas inverter and energy storage battery business. Despite rising expenditure across research and development, sales and administration, as well as foreign exchange losses linked to currency depreciation, overall profitability improved significantly.
Research and development spending in Q1 2026 rose by 12.38% YoY to RMB 156 million, accounting for 6.60% of total revenue.
For FY2025, GoodWe reported revenue of RMB 8.88 billion, up 31.93% YoY. Net profit attributable to shareholders reached RMB 135 million, compared to a loss of RMB 62 million in the previous year, marking a return to full year profitability.
The company said this recovery was driven by increased domestic solar installations, policy support such as Australia’s residential storage subsidy programme, and inventory normalisation in Europe, which boosted shipments of inverters and battery storage systems.
From a regional perspective, domestic revenue stood at RMB 5.2 billion, while overseas revenue reached RMB 3.62 billion, representing an 80.45% increase. The company noted that higher margins in international markets have made overseas operations its primary profit contributor.
By product segment, energy storage batteries recorded the strongest growth, with revenue increasing 226.95% YoY to RMB 1.546 billion. Solar PV storage inverters also performed strongly, with revenue rising 107.07% to RMB 956 million.
Total research and development investment for FY2025 reached RMB 614 million, up 11.32% YoY and representing 6.90% of revenue, slightly lower than the 8.18% recorded in the previous year.
Author: Bryan Groenendaal
GoodWe has an extensive distribution network across the African continent.
For enquires email: sales.africa@goodwe.com
