Risen Energy’s net profit in 2018 takes a 56% hit but focuses on high-efficiency product expansions

Facebook
Twitter
LinkedIn
Reddit
Email
The company had highlighted that its, Jiangsu Jintan 5GW high-efficiency, highly automated monocrystalline cell and module manufacturing base had started mass production of its 2GW, Phase 1 expansion in the fourth quarter of 2018. Image: Risen Energy

‘Solar Module Super League’ (SMSL) member Risen Energy has recently reported a decline in 2018 annual revenue and net profit, due to the overall decline in PV installations in China, which also led to pricing pressure across its PV module, PV encapsulant and EPC business divisions. 

Risen Energy reported full-year total revenue of RMB 9.75 billion (US$ 1.488 billion), a 14.84% decline from 2017. The company cited the ‘China 531 New Deal’ for the slump in utility-scale project development and installations, which resulted in pricing pressure. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Risen Energy reported full-year total revenue of RMB 9.75 billion (US$ 1.488 billion), a 14.84% decline from 2017.

ASP declines led to net profit declining 56.81% to RMB 278.8 million (US$ 41.4 million) in 2018, compared to RMB 645.5 million (US$ 95.8 million) in 2017.

Risen Energy reported a net profit of RMB 278.8 million (US$ 41.4 million) in 2018, compared to RMB 645.5 million (US$ 95.8 million) in 2017.

Operating income in its EPC business declined 24.81% in 2018, compared to the previous year, although PV power plant projects installed were 202.17MW in 2018, compared to 263.55MW installed in 2017. EPC profit margins were 15.78%, compared with 11.33% in the previous year.

Operating income from PV modules only declined by 3.7%, retaining profit margins of 13.26% in 2018. PV encapsulant (Jiangsu Swick) operating income only declined by 2.38% and retained profit margins of 18.6%. Profit margins were lower at 13.03% in 2017. 

On a quarterly basis, revenue generation was markedly down from the previous year peaks of the second and fourth quarters, but were higher than in the previous year in the first and third quarters.
 
The peak in second and fourth quarters were typically led by module shipments for utility-scale projects and EPC work completions

On a quarterly basis, revenue generation was markedly down from the previous year peaks of the second and fourth quarters, but were higher than in the previous year in the first and third quarters.

However, Risen Energy had its best revenue generating in the fourth quarter of 2018, while net profit declined significantly to a recent year low of RMB 21.2 million (US$3.16 million).

Risen Energy had its best revenue generating in the fourth quarter of 2018, while net profit declined significantly to a recent year low of RMB 21.2 million (US$3.16 million).

The company had highlighted that its, Jiangsu Jintan 5GW high-efficiency, highly automated monocrystalline cell and module manufacturing base had started mass production of its 2GW, Phase 1 expansion in the fourth quarter of 2018, which could have contributed to start-up costs and a major reduction in fourth quarter profitability. 

Risen Energy also noted in its annual report that the Phase 2 expansion at Jiangsu Jintan was expected to be put into operation in June 2019, as well as high-efficiency component capacity expansion for encapsulants was planned to be operational in October 2019.
 
The company has 4GW of cell and module capacity under construction and exited 2018 with 6.6GW of module assembly nameplate capacity. Module sales in 2018 were 3,350.08MW. 

The company expects to continue to focus on high-efficiency products to expand its overseas business in 2019. Risen Energy continued relatively high R&D spending in 2018, despite the profit fall.

Risen Energy reported that its high-efficiency solar cell technology in mass production had conversion efficiencies exceeding 22%, including PERC, TOPCON. In 2018, the company said it had been the first to fabricate bifacial PERC cells using atomic layer deposition (ALD) passivation at the gigawatt-scale with cell efficiencies exceeding 22.2%. The company is also developing heterojunction cell technology.

R&D spending in 2018 was approximately US$49.2 million, compared to US$53.2 million in 2017.

Risen Energy reported R&D spending topped  US$49.2 million in 2018, compared to US$53.2 million in 2017.

The company has already established a global sales network in more than 50 countries and regions. Risen Energy expects to focus on market share gains in the Middle East, Africa, India, Americas and  Oceania in 2019.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 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.
10 March 2026
Frankfurt, Germany
The conference will 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 out to 2030 and beyond.

Read Next

June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).
June 26, 2025
International researchers led by King Abdullah University of Science and Technology (KAUST) have developed a new cooling technology that improves the power and longevity of solar cells.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico