Suntech's self-developed power semiconductor business revenue doubled

On March 22, 2024, Sunking Technology (the Group) officially released its 2023 performance announcement: sales revenue in 2023 rose again to more than 1 billion yuan, reaching 1.05 billion yuan, a year-on-year increase of 15%. Gross profit margin was 32%, a year-on-year increase of 4 percentage points, and net profit attributable to the parent company was 31.55 million yuan, a year-on-year increase of 31%. In the field of power grid transmission and distribution, the Group's sales revenue in 2023 was 416 million yuan, a year-on-year increase of 25%. In 2023, the Group's self-developed power semiconductor business achieved sales revenue of 81.45 million yuan, a year-on-year increase of 105%. 94% of sales revenue came from the fields of new energy power generation, energy storage and electric vehicles with high entry barriers and strict quality requirements. In 2023, the number of customers who achieved mass supply increased by 36% compared with 2022, reaching 38. In 2023, we successively launched the 1700V i20 series IGBT chipset, ST packaged IGBT modules and HEEV packaged SiC modules. The company completed the construction of the second IGBT module production line and started the construction of the third IGBT module production line and the first silicon carbide module production line.