Deye 2025 ESG Report: Zero Injuries, 16 GWh Storage Line Planned

Deye’s 2025 sustainability report is its second. It covers the year in which Deye’s inverter and energy storage business passed RMB 10 billion in revenue and its storage subsidiary, DEYE ESS, agreed to build a 16 GWh production line. This overview summarises the main environmental, social and governance (ESG) figures.

1. Ratings and assurance

The report discloses no ESG rating or score from MSCI, EcoVadis, CDP (formerly the Carbon Disclosure Project), Sustainalytics or S&P. It contains no third-party assurance statement.

The report follows the Shanghai Stock Exchange’s sustainability reporting guidelines and refers to the Global Reporting Initiative (GRI) Standards. Its data tables give 2025 figures only, with no comparison to earlier years (pp.125–130).

2. Emissions and climate

Deye’s direct (Scope 1) emissions were 3,075 tonnes of carbon dioxide equivalent (CO2e) in 2025. Emissions from the electricity it bought (Scope 2) were 49,484 tonnes, 94 % of the total of 52,559 tonnes.

That works out to 4.30 tonnes of CO2e per RMB million of revenue. The report gives no Scope 3 figure and sets no dated target for cutting emissions or reaching carbon neutrality.

The report lists four climate risks and one opportunity, using the framework of the Task Force on Climate-related Financial Disclosures (TCFD):

• carbon tariffs in overseas markets, over the medium to long term
• customer demand for lower-carbon products, over the short to medium term
• typhoons, heavy rain and heatwaves at its coastal Ningbo bases, over the short to medium term
• rising temperatures pushing up electricity and cooling demand, over the medium to long term
• a growing solar and energy storage market, listed as an opportunity over the medium to long term

Emissions

3. Energy, water and waste

Deye used 12,554 tonnes of standard coal equivalent (tce) of energy in 2025, including 88.1 million kWh of purchased electricity and 1.42 million m³ of natural gas. The report gives no renewable share.

According to the report, all factory roofs carry solar panels. The three projects it names add up to about 12 MW. Two 1 MW battery systems at the Ningbo sites charge when electricity is cheap and discharge when it is expensive.

Deye used 385,300 tonnes of water and disposed of 48.6 tonnes of hazardous and 996.6 tonnes of non-hazardous waste. The report gives no recycling rate.

4. People and safety

Deye had 6,044 employees at the end of 2025, 93 of them outside China. A third are women, and about half are aged 30 or under.

The report records no work-related fatalities or injuries in 2025. Employees received an average of 64 hours of safety training.

5. Supply chain

Deye works with 1,025 suppliers, all of which have signed an integrity agreement. Supplier contracts prohibit forced labour, child labour and discrimination.

Relevant suppliers also sign a clause on conflict minerals from the Democratic Republic of the Congo and neighbouring countries.

New suppliers go through credential reviews and on-site audits. The report states that Deye does not conduct dedicated ESG due diligence, and gives no number of suppliers assessed on ESG criteria.

6. Governance and innovation

The eight-member board includes three independent directors and one woman. Deye reported no customer data breaches and no product recalls. During 2025 it gained certification to the International Organization for Standardization (ISO) standards for information security (ISO 27001) and privacy (ISO 27701).

Research and development (R&D) spending was RMB 562 million, 4.6 % of main business revenue, and 868 employees work in R&D. Deye holds 542 valid patents, 50 of them invention patents. In 2025 it opened the DEYE ESS Technology Research Institute at its Longshan base.

7. Business figures

Deye reports 2025 revenue of RMB 12.22 billion and net profit of RMB 3.17 billion. The inverter and energy storage division passed RMB 10 billion in revenue; the report gives no separate figure for energy storage.

Deye sells four battery pack series, all designed to work with its storage inverters:

• Spring: low-voltage residential
• Summer: high-voltage residential and commercial and industrial
• Autumn: portable
• Winter: utility-scale

Events listed for 2025 include:

• DEYE ESS agreed to build a 16 GWh commercial and industrial storage production line in Cixi, Ningbo, in two phases, and bought land there for RMB 94 million
• construction started on a production base in Johor, Malaysia
• Deye began preparing a listing of H-shares on the Hong Kong Stock Exchange

Product ranges, factory locations and reference projects are on the Deye profile.

8. Key data

Figures as reported, 2025 only. Environmental data cover Deye and four subsidiaries.

Energy, water and waste

People and safety

Supply chain and governance

9. Data notes

• Environmental boundary. Emissions, energy, water and waste figures cover Deye and four subsidiaries: DEYE INVERTER, DEYE ESS, Zhejiang Deye Environmental Appliances and Ningbo Deye Environmental Appliances. (pp.47, 49, 56).
• Scope 1 and 2. Emissions from gasoline and diesel are excluded, which the report attributes to their negligible contribution. The report does not state whether Scope 2 is location-based or market-based (p.47).
• Solar. Rooftop solar capacity is 0.4 MW at Beilun, 5.9 MW at Haiyan and 6 MW at Longshan; generation is not given (p.57).
• Calculations. The Scope 2 share, women’s share of the workforce, the solar total and the conversion of financial figures from RMB 10,000s are calculated by BESSmanufacturers from the report’s figures. Page numbers are the report’s printed page numbers. Sources in the report: ratings and reporting basis pp.1, 19–23; emissions and climate pp.45–47, 127; energy, water and waste pp.49–59, 127; people and safety pp.95–119, 129–130; supply chain pp.25, 88–92; governance and innovation pp.11, 31–42, 65–69, 73, 79, 125, 128; company and business pp.3, 5, 9–14, 125.

Sources