China (PRC) | Alternative Energy Key takeaways from Sungrow post-FY25 result call; GPM might be volatile in NT We host a post-result call with Sungrow on 1st Apr, discussing 4Q25 results and growth outlook in 2026. 4Q25 results missed expectations as ESS GPM fell sharply to 24% amid a higher mix of low-margin projects, rising LiC costs, FX headwinds and tariffs, along with a higher EPC revenue mix. Mgmt sees 40% GPM as unsustainable LT ESS GPM, with market expansion into price- sensitive regions and trend o ...