Risen Energy Reports Financial Results for the Third Quarter of 2022

PVTIME – On October 25, Risen Energy released its report for Q3 2022.

Risen Energy achieved an operating revenue of 8.406 billion yuan in the third quarter, a year-on-year increase of 80.8%. Its net profit was 243 million yuan, a year-on-year decrease of 45.48% in the reporting period.

In the first three quarters, its operating income was 21.021 billion yuan, a year-on-year increase of 61.86%. And the net profit was 747 million yuan, a year-on-year increase of 111.08%.

According to the announcement, the increase of its income revenue mainly due to the increase sales volume of solar modules during the reporting period, which leads to an increase of 55.47% operating cost compared to the same period last year. Its net profit increased by 92.35% compared with the same period of last year, mainly result from the increase in gross profit as well as the increase in sales volume of photovoltaic module and polysilicon materials.