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Express News | Energy storage stocks surged early in the trading session, with GoodWe and SHNEC both rising over 10%.
Express News | SHOUHANG XINNENG: The company has signed long-term supply agreements with its core cell suppliers to secure supply volumes in advance.
Shouhang New Energy's revenue for 2025 was RMB 2.574 billion, a year-on-year decrease of 5.04%. The proportion of overseas income increased to 89.44%, and energy storage batteries became the largest business segment.
In 2025, the company's revenue reached 2.574 billion yuan (-5.04%), with a net profit attributable to shareholders of 157 million yuan (-39.43%) and a non-recurring net profit of 181 million yuan (-23.12%). The Q4 performance showed sequential improvement; gross margin and net margin fell by 6.69 percentage points and 4.32 percentage points respectively, while overseas income accounted for 89.44% of total revenue, with energy storage batteries becoming the largest source of income. R&D spending was significantly reduced, whereas sales expenses increased by 16.44% against the trend, further pressuring profitability.
Shouhang New Energy: First Quarter Report for 2026
Shouhang New Energy: 2025 Annual Report
Shouhang New Energy: Summary of the 2025 Annual Report