On November 6th, Pacific Securities' research reports pointed out that Sungrow Power Supply (300274.SZ) had a revenue of 18.93 billion in Q3 2024, with a year-on-year increase of 6.4% and a quarter-on-quarter increase of 2.8%. It is expected that the delayed confirmation of mainly energy storage and other products caused this, and it is expected that the confirmation in Q4 2024 will accelerate. As a global leader in the solar energy storage industry, the company has a deep foundation in the domestic market, with obvious advantages in overseas power inverter and energy storage businesses, and is expected to fully benefit from the continuous growth in industry demand. The company's scale advantage and product innovation bring premium pricing and act as a long-term moat. The current stock price corresponds to PEs of 18/15/14 times respectively, and the "buy" rating is maintained.