Risen Energy Co., Ltd., a global leader in high-performance photovoltaic solar 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, Risen Energy recorded a revenue of approximately 35.33 billion yuan ($4.87 billion USD) in 2023, representing a year-on-year increase of 20.22%. The company’s net profit, after deducting non-recurring profits or losses, reached 1.58 billion yuan ($218 million USD) in 2023, marking a 55.77% increase compared to the previous year. Risen Energy’s net assets attributable to shareholders also rose by 62.47%, reaching 15.2 billion yuan ($2.09 billion USD) in 2023.
Throughout the past year, Risen Energy achieved various significant milestones. Here are some notable highlights:
Technological Achievements:
Risen Energy made significant progress in n-type technology and large-size, high-efficiency module technologies. The company established a new efficiency record of 23.9% for its Hyper-ion heterojunction (HJT) modules in 2023, with a projected production capacity of 21 GW by 2024. Risen Energy’s innovations include the development of 0BB cell technology, ultrathin silicon wafer technology, pure silver consumption ＜ 7 mg/W, and Hyper-Link technology. The company was the first in the industry to bring such technological breakthroughs into mass production.
In 2023, Risen Energy obtained multiple international certifications, including the world’s first TÜV SÜD certificate for high-efficiency ultrathin 210 HJT modules.
Additionally, Risen Energy developed and held 740 patented technologies, with 172 new patents granted during the year. The company published several white papers while continually remaining at the forefront of the industry. In August 2023, Risen Energy released its highly anticipated research document titled “Development and Application of Low-silver Metallization Paste,” and in December, the company published “Development and Industrial Application of Ultra-thin Silicon Wafers,” solidifying its leadership in the industry.
Product Applications:
Risen Energy’s Super Energy series products for residential and C&I rooftops have demonstrated superior performance and ease of installation. These products have further strengthened the company’s position in terms of technological innovation and industrial application.
Energy Storage:
Risen Energy has also excelled in the field of energy storage. Leveraging its dual-energy storage industrialization platform and professional research and development team, the company achieved comprehensive self-development and closed-loop management of “3S” technologies (BMS/PCS/EMS). Risen Energy’s independently developed liquid-cooled battery energy storage system became the first in China to be certified by both Chinese and American UL9540A standards.
Environmental, Social, and Governance (ESG) Factors:
In its latest ESG report, Risen Energy stated that it obtained SA8000 certification. The company increased its consumption of clean energy to 31,320,210 kWh, a 9.4% increase compared to the previous year. Additionally, Risen Energy purchased 6,424,000 kWh of green electricity and set a new threshold for French carbon footprint certification, at 376.5 kg eq CO2/kWc, thanks to the company’s HJT module.
About Risen Energy:
Established in 1986 and listed on the stock market in 2010, Risen Energy is a global manufacturer of level 1 solar photovoltaic products, rated as “AAA,” and a provider of energy production solutions. Renowned for their technological and commercial innovation, high-quality products, and robust support, the company’s solar photovoltaic solutions are powerful and cost-effective.
Risen Energy’s exceptional financial results for 2023 reflect the company’s remarkable growth and technological advancements in the solar industry. With a revenue of approximately 35.33 billion yuan ($4.87 billion USD), Risen Energy experienced a year-on-year increase of 20.22%. The company’s net profit also saw a significant rise, reaching 1.58 billion yuan ($218 million USD), marking a 55.77% increase compared to the previous year. These impressive figures demonstrate Risen Energy’s success in the solar energy market.
One of the key technological achievements of Risen Energy in 2023 was the significant progress made in n-type technology and large-size, high-efficiency module technologies. The company established a new efficiency record of 23.9% for its Hyper-ion heterojunction (HJT) modules, showcasing their commitment to producing high-performance solar products. With a projected production capacity of 21 GW by 2024, Risen Energy is poised to continue its growth and innovation in the solar industry.
Risen Energy’s technological breakthroughs include the development of 0BB cell technology, ultrathin silicon wafer technology, pure silver consumption ＜ 7 mg/W, and Hyper-Link technology, which have been brought into mass production. These advancements contribute to the efficiency and effectiveness of Risen Energy’s solar products.
Furthermore, Risen Energy obtained multiple international certifications in 2023, including the world’s first TÜV SÜD certificate for high-efficiency ultrathin 210 HJT modules. These certifications validate the quality and performance of Risen Energy’s solar products in the global market.
In terms of product applications, Risen Energy’s Super Energy series products for residential and C&I rooftops have demonstrated superior performance and ease of installation. These products have further strengthened the company’s position in terms of technological innovation and industrial application. With their high-quality and easy-to-install solar products, Risen Energy provides customers with reliable and efficient solutions for solar energy generation.
Risen Energy has also excelled in the field of energy storage. Leveraging its dual-energy storage industrialization platform and professional research and development team, the company achieved comprehensive self-development and closed-loop management of “3S” technologies (BMS/PCS/EMS). Risen Energy’s independently developed liquid-cooled battery energy storage system became the first in China to be certified by both Chinese and American UL9540A standards. This achievement highlights Risen Energy’s commitment to innovation and excellence in energy storage solutions.
From an environmental, social, and governance (ESG) perspective, Risen Energy has made significant strides. The company obtained SA8000 certification and increased its consumption of clean energy by 9.4% compared to the previous year. Risen Energy also purchased 6,424,000 kWh of green electricity, further demonstrating its commitment to sustainable practices. The company’s HJT module played a key role in setting a new threshold for French carbon footprint certification. These ESG efforts showcase Risen Energy’s dedication to promoting clean energy and reducing environmental impact.
While Risen Energy has achieved remarkable success, there are also key challenges and controversies associated with the solar industry. One such challenge is the fluctuation of government policies and subsidies for solar energy. Changes in government regulations can have a significant impact on the solar industry’s growth and profitability. It is important for companies like Risen Energy to closely monitor and adapt to these policy changes to ensure sustained growth.
Another challenge is the competition within the solar industry. With an increasing number of companies entering the market, competition has become fierce, driving down prices and putting pressure on profit margins. Companies like Risen Energy need to continuously innovate, improve efficiency, and differentiate their products to stay ahead in the competitive landscape.
In terms of advantages, Risen Energy’s technological advancements, superior product performance, and commitment to ESG factors give them a competitive edge in the solar industry. The company’s strong financial results demonstrate its ability to generate revenue and profits in a rapidly evolving market. Risen Energy’s focus on innovation and product quality positions them as a reliable and trusted provider of solar photovoltaic solutions.
However, it is important to note that the solar industry is subject to market fluctuations, economic conditions, and changes in government policies. These factors can impact the growth and profitability of companies like Risen Energy. It is crucial for the company to remain agile and adaptable to navigate potential challenges and seize emerging opportunities in the solar energy market.
For more information about Risen Energy and their solar products, you can visit their official website at Risen Energy.