Risen Energy has announced on April 22 to invest about RMB 734 million in the production of 3 GW module in Baotou City, Inner Mongolia Autonomous Region, which is planned to be gradually constructed and put into operation in combination with the company's overall capacity, downstream market demand and project construction fund-raising.
The company has singed investment agreement with Baotou Municipal People’s Government and Guyang County People’s Government respectively at the end of 2021, including the manufacturing of 200,000 tons of metal silicon, 150,000 tons of high-purity silicon, 10 GW n-type high-efficiency silicon rod pulling and 3 GW module.
The main purpose of this investment is to improve the synergy of the company in the photovoltaic industry and the capacity, increasing the profit and resilience during the operation, so to realize the sustainable, stable and rapid development of the company.
Risen recently also disclosed its annual report of 2021, showing an operating revenue of RMB 18.831 billion yuan, up 17.23% YoY. The net profit attributable to the parent company was RMB -42.32 million yuan, down 125.59% YoY, with net operating cash flow of RMB 601 million yuan, down 12.44%.