Eoptolink and Sungrow Power profits hit by yuan-driven foreign-exchange losses

10 articles · Updated · Bloomberg · Apr 27

Eoptolink's first-quarter profit growth missed estimates, while Sungrow Power reported a 400 million yuan forex loss impacting its earnings.
The strengthening yuan has emerged as a significant risk for Chinese companies, with foreign-exchange losses now weighing on corporate profits across sectors.
Sungrow Power had previously reported a 40% profit decline to 2.29 billion yuan, also citing fierce competition in China's battery and energy storage market.

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