China’s Risen Energy Delivers Strong H1 Numbers with 51% Growth

Highlights :

  • For all the supply side challenges, Chinese manufacturers like Risen Energy have turned in very strong numbers in 2022, pointing to the obvious opportunity for more competition in the market.
  • The situation might change significantly by 2024-25, by when multiple new capacities globally will come online.
China’s Risen Energy Delivers Strong H1 Numbers with 51% Growth With Lowest Bid Of Rs 3.15, Only Three Winners For SECI 2000 MW Tranche VII Hybrid Tender

Risen Energy, part of the cohort of China based manufacturers of photovoltaic modules, has reported that its revenue in first half of 2022 has expanded 51.29 percent year-on-year to reach 12.615 billion yuan (US$ 1.83 billion). The net profit attributable to shareholders of the parent company rose 653.56 percent increase year-on-year to reach 505 million yuan (US$ 72.98 million), and net profit attributable to shareholders of the parent company after deducting non-recurring profit and losses reached 476 million yuan (US$ 68.78 million), a 340.29 percent increase year-on-year.

The increase in product sales and rise in unit sales prices contributed to Risen Energy’s significant performance growth. The revenue of solar cells and modules was 9.854 billion yuan (US$ 1.43 billion), an increase of 94.32 percent year-on-year; while the revenue of polysilicon was 977 million yuan (US$ 141.47 million), an increase of 820.3 percent year-on-year with gross profit margin of 59.84 percent.

The firm has benefited from the rise in prices across the board, especially polysilicon this year, as is obvious from the numbers.

Risen has also launched the Titan series, the NewT@N series, and Hyper-ion series, based on its 210 Technology platform.

The Titan module leverages the mature 210+P type technology with power coverage of 410W to 670W.  The Hyper-ion series, on the other hand, adopts the 210+N type technology and utilizes industry-leading technologies including 120μm, 210 half-cut silicon wafer with four chamfer, microcrystalline technology and low Ag content paste. The comoany claims that the module power can reach upto 700W+ output and creates both economic and environmental values for the customers.

The strong financial show from Risen tracks the performance of other Chinese manufacturers too, especially Jinko and Longi, which have also reported a very strong set of H1 results.

While Jinko Solar recorded CNY 33.4 billion ($4.8 billion) of revenue in the first half, up 112.4% year on year, Longi recorded  a consolidated operating revenue of 50.417 billion yuan, a year-on-year increase of 43.64%.

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