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Risen Energy Reports Brilliant 2023 Earnings with $4.87 Billion Revenue, Up 20.22%
NINGBO, China, May 8, 2024 /PRNewswire/ — Risen Energy Co., Ltd. (“the Company”), a globally leading manufacturer of high-performance solar photovoltaic products, has announced its outstanding financial results for 2023, demonstrating significant growth and technological advancements in the solar industry.
According to its latest annual report, in 2023, Risen Energy clocked up approximately 35.33 billion RMB (US$4.87 billion) in revenue, up 20.22% year-on-year. The Company’s net profit after deduction of non-recurring profits or losses rose to 1.58 billion RMB (US$218 million) in 2023, marking a 55.77% year-over-year increase. Risen Energy’s net assets attributable to equity holders expanded by 62.47% to reach 15.2 billion RMB (US$2.09 billion) in 2023.
Risen Energy has achieved various significant milestones over the last year. Here are a few highlights:
- Technological achievements:
- Risen Energy has made significant strides in n-type technology and large-size high-efficiency module technologies. The Company set a new record efficiency rate of 23.9% for its heterojunction (HJT) Hyper-ion Modules in 2023, with a projected production capacity of 21GW by 2024. Risen Energy’s innovations include the development of 0BB cell technology, 210 ultra-thin silicon wafer technology, pure silver consumption<7mg/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 first TÜV SÜD global certificate for 210 HJT high-efficiency ultra-thin modules.
- Also in 2023, Risen Energy developed and owned 740 patent technologies, with 172 new patents authorized during the year.
- The Company published several whitepapers as it continued 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 published “Development and Industrial Application of Ultra-thin Silicon Wafers” — setting strong benchmarks for the industry.
- Product Applications:
- For residential and C&I rooftops, Risen Energy’s Super Energy Series products have shown superior performance and installation convenience. Such products strengthened the Company’s position in technological innovation and industrial application.
- Energy Storage:
- Risen Energy also stood out in the field of energy storage. Leveraging its dual-energy storage industrialization platform and its professional research and development team, the Company has achieved full-stack self-development and closed-loop management of “3S” (BMS/PCS/EMS) technologies. Risen Energy’s independently developed liquid-cooled battery energy storage system was the first in China to be certified by both Chinese and American UL9540A standards.
- Environmental, Social, and Governance (ESG):
- In Risen Energy’s latest ESG report, the Company noted that it has obtained the SA8000 certification. Risen Energy has increased its clean energy usage to 31,320,210 kWh, up 9.4% year-on-year. It has also purchased 6,424,000 kWh of green electricity, and set a new low in the French carbon footprint certification at 376.5 kg eq CO2/kWc — thanks to the Company’s HJT module product.
As of December 31, 2023 |
As of December 31, 2022 |
As of December 31, 2021 |
|
Total assets |
54,245,929,430.61 |
38,358,001,211.15 |
29,636,736,310.32 |
Net assets attributable |
15,208,422,344.15 |
9,360,934,883.33 |
8,478,633,433.49 |
2023 (in RMB) |
2022 |
2021 |
|
Revenues |
35,326,804,378.95 |
29,384,723,133.68 |
18,830,724,181.12 |
Net profit attributable to |
1,363,281,088.79 |
934,976,466.28 |
43,317,260.05 |
Net profit attributable to |
1,582,641,345.52 |
1,015,980,459.29 |
648,132,577.21 |
About Risen Energy
Risen Energy, established in 1986 and publicly listed in 2010, is a global Tier 1, “AAA” credit-rated solar photovoltaic product manufacturer and power generation solutions provider. Renowned for techno-commercial innovation, top-quality products, and strong support, the Company’s Solar PV solutions are powerful and cost-effective.
View original content:https://www.prnewswire.co.uk/news-releases/risen-energy-reports-brilliant-2023-earnings-with-4-87-billion-revenue-up-20-22-302139127.html
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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