Risen Energy announces brilliant results for 2023 with revenue of $4.87 billion, an increase of 20.22%

Risen Energy announces brilliant results for 2023 with revenue of $4.87 billion, an increase of 20.22%
Risen Energy announces brilliant results for 2023 with revenue of $4.87 billion, an increase of 20.22%
Class in: Business, Environment, Science and technology, Hunting, fishing and the outdoors
Subject : Profits

NINGBOChina, May 9, 2024 /PRNewswire/ –RisenEnergyCo.,Ltd. (the Company), a leading global manufacturer of high-performance solar photovoltaic products, announced its exceptional financial results for 2023, demonstrating significant growth and technological advancements in the solar industry.

According to its latest annual report, in 2023, RisenEnergy recorded revenue of approximately 35.33 billion yuan (4.87 billion US dollars), a year-on-year increase of 20.22%. The company’s net profit after deducting non-recurring profit or loss increased to 1.58 billion yuan ($218 million) in 2023, an increase of 55.77% over the previous year. RisenEnergy’s net assets attributable to shareholders increased by 62.47% to 15.2 billion yuan (2.09 billion US dollars) in 2023.

RisenEnergy has achieved various important milestones over the past year. Here are some highlights:

  • Technological achievements:
    • Risen Energy has made significant advancements in n-type and high-efficiency large module technologies. The company set a new record efficiency rate of 23.9% for its Hyper-ion heterojunction (HJT) modules in 2023, with a planned production capacity of 21 GW by 2024. Risen Energy innovations include the development of 0BB cell technology, 210 ultra-thin silicon wafer technology, pure silver consumption? 7 mg/W and Hyper-Link technology. The company was the first in the industry to put such technological breakthroughs into mass production.
    • In 2023, Risen Energy obtained multiple international certifications, including the world’s first TV SD certificate for 210 HJT high-efficiency ultra-thin modules.
    • Also in 2023, Risen Energy developed and held 740 patented technologies, with 172 new patents authorized during the year.
    • The company has published several white papers while continuing to lead the industry. In August 2023, Risen Energy released its highly anticipated research paper “Development and Application of Low-silver Metallization Paste,” and in December the company released “Development and Industrial Application of Ultra-thin Silicon Wafers,” establishing strong benchmarks for the industry.
  • Product applications:
    • For residential and C&I roofing, Risen Energy’s Super Energy Series products have demonstrated superior performance and ease of installation. These products have strengthened the company’s position in technological innovation and industrial application.
  • Energy storage:
    • Risen Energy has also distinguished itself in the field of energy storage. Leveraging its dual energy storage industrialization platform and professional research and development team, the company has achieved comprehensive self-development and closed-loop management of 3S technologies (BMS/PCS/EMS). The liquid-cooled battery energy storage system independently developed by Risen Energy was the first in China to be certified by Chinese and American UL9540A standards.
  • Environmental, social and governance (ESG) factors:
    • In its latest ESG report, Risen Energy indicated that it had obtained SA8000 certification. Risen Energy increased its clean energy consumption to 31,320,210 kWh, an increase of 9.4% compared to the previous year. It also purchased 6,424,000 kWh of green electricity and set a new certification threshold for the French carbon footprint, 376.5 kg CO2 eq/kWp, thanks to the company’s HJT module.

As of December 31, 2023

(in yuan)

As of December 31, 2022

As of December 31, 2021

Total assets

54245929430.61

38358001211.15

29636736310.32

Attributable net assets

to shareholders

15208422344.15

9360934883.33

8478633433.49

2023 (in yuan)

2022

2021

Turnover

35326804378.95

29384723133.68

18830724181.12

Net profits attributable to

shareholders

1363281088.79

934976466.28

43317260.05

Net profits attributable to

shareholders after

deduction of non-

recurring profit or loss

1582641345.52

1015980459.29

648132577.21

About RisenEnergy

RisenEnergy, established in 1986 and publicly traded in 2010, is a global manufacturer of Tier 1, AAA-rated solar photovoltaic products and a provider of power generation solutions. Renowned for technical-commercial innovation, high-quality products and strong support, the company’s solar photovoltaic solutions are powerful and cost-effective.

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