Risen Energy posts H1 2023 revenue of US$2.43 billion, up 39.5% YoY

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Risen Energy started production of its Hyper-ion heterojunction modules in August 2023. Image: Risen Energy

Module manufacturing major Risen Energy has posted strong revenue for the first half of the year, with RMB17.6 billion (US$2.4 billion).

After significant growth in 2022 – with revenue up 56% year-on-year – the company’s H1 2023 results have increased by 39.56% from the same period in 2022, when product sales and unit sales prices had driven revenues up in H1 2022.

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Its net profit after non-recurring profit and loss deduction rose 76.25% to RMB838 million (US$115.5 million).

During the first half of the year, the company increased its investment in research and development (R&D) by 4.5% from the same period in 2022, with US$67.5 million.

As the module manufacturer continues to increase its investment in R&D, it recently started commercial production of its n-type heterojunction cell technologies with the Hyper-ion heterojunction bifacial modules in the city of Ningbo, China. The heterojunction modules will have a conversion efficiency of 23.89%, which was boasted as a world record by the company earlier this year and was verified by certification provider TÜV SÜD.

In July, and before the start of commercial production of its Hyper-ion modules, the company secured a 1GW heterojunction module supply with Singaporean independent power producer Athein.

With the company shifting towards n-type modules and more specifically heterojunction module production, it will increase the share of n-type modules shipped in 2023 as the company targets to reach 30GW this year, of which 4.5GW was achieved in Q1 2023, as reported by PV Tech Premium.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

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