29.385 Billion Yuan! Risen Energy Releases 2022 Performance Report

PVTIME – On 22 April 2023, Risen Energy Co., Ltd. (300118.SZ) released its 2022 annual report, which showed that its operating revenue reached 29.385 billion yuan, up 56.05% year on year, and net profit attributable to shareholders of the listed company reached 945 million yuan, dramatically higher than that of the previous year.

In addition, by the end of 2022, Risen Energy’s annual PV module production capacity reached 25GW, contributed by its production bases in Ningbo City, Jintan City, Yiwu City, Chuzhou City, Baotou City and Malaysia. And its 5GW n-type ultra-low carbon high-efficiency heterojunction cell and 10GW high-efficiency solar module project in Ninghai City, 4GW high-efficiency solar cell and 6GW high-efficiency solar module project in Jintan City and 10GW high-efficiency solar cell project in Chuzhou City are under construction.

And the high sales volume of polysilicon material was one of the main reasons for the profit increase in 2022. The polysilicon production at Risen Energy’s base was in full operation throughout 2022 to meet customer demand. Meanwhile, the relatively high price of polysilicon material due to the shortage of polysilicon and the high demand for raw materials, which was affected by the rapid expansion of production in other parts of the downstream PV industry chain last year, led to higher profit in the reporting period.

In addition, technology research and development played a core role in the company’s growth in 2022. By the end of 2022, it had independently developed and approved 583 patent technologies, of which 196 new patents were approved in 2022.

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