Sungrow Power: Certain banks in the European Union have limited impact on financing for projects using Chinese inverters, and the company's participation in such projects is limited.

On July 1st, Sungrow Power stated during a telephone conversation that the company is paying attention to recent market rumors and concerns in the European and American markets, and wanted to provide a simple update. This year, the global energy storage market is expected to significantly increase in size, especially in the European market, which has exceeded expectations. The company recently participated in the European Intersolar exhibition and the Chinese SNEC exhibition, where customers highly appreciated the company. Orders are quite full and the company will work hard to improve research and development, production, and delivery. Regarding the issue of financing restrictions in the EU, some European banks have limited financing for projects using Chinese inverters, but the impact is limited and these projects make up only about 20% of the European market, in which the company has limited involvement.