Risen Energy Co., Ltd. disclosed its financial results for the first half of 
2019 on August 23. During the last six months, the company recorded total 
operating revenue of 6.056 billion yuan (approx. US$847 million), an increase 
of 27.59% from a year earlier. Net profit reached 485 million yuan (approx. 
US$67.8 million), soaring 295.52%.

Commenting on the growth for the half year, Risen Energy president Xie Jian 
said: "We always put customers first, closely respond to market demand, 
optimize product structure, and improve core competitiveness in scientific 
research and development, efficient product promotion, process improvement, 
lean production, cost management and other aspects. With the excellent ability 
and rich experience of the management team, we can effectively predict the 
direction of the industry, seize market opportunities and achieve good business 
performance."

Continuously increases R & D investment, so that technological innovation 
ensures product quality

In 2019, with the continuous expansion of the global photovoltaic market and 
iterative upgrade of photovoltaic manufacturing technology, Risen Energy 
continued to pay attention to the trends in terms of the development of the 
technology and the industry, constantly increased the R&D into efficient 
technology and scientific research investment, and developed many core 
technologies.

On August 19, Risen Energy held a groundbreaking ceremony for its 2.5GW 
high-efficiency heterojunction cell and module project in Ninghai, a county 
within the city of Ningbo, Zhejiang province. Total investment for the project 
reached 3.3 billion yuan (approx. US$467 million). The company's heterojunction 
cells have a conversion efficiency exceeding 23% and has integrated half-cut, 
imbricate, double-glass and high-reflectivity backsheet into the cell's 
construction. Through the application of high-efficiency bifacial 
heterojunction cell technology, Risen Energy's heterojunction components can 
generate electricity on both sides of the panel and provide investors with a 
10-30% higher level of income from the power generated. 

Besides the heterojunction cells, Risen Energy's technology R&D team has also 
successfully developed the second-generation half-cut technology of ultra-high 
light utilization and ultra-low power loss through the joint optimization of 
advanced battery passivation technology and high efficiency component packaging 
technology. After being tested by the independent third-party certification and 
testing organization TUV SUD, the company's photoelectric conversion efficiency 
for Jaeger HP series of 72 components reached 21%, among the highest across the 
sector. The maximum conversion efficiency for its MBB monocrystal cell has 
exceeded 23.00%, with an average efficiency reaching 22.73%. The company plans 
to gradually complete the switch from 5BB to MBB technology which it commenced 
in June 2019 and achieve full mass production of MBB technology within this 
year.

At present, the annual output capacity of photovoltaic module for Risen Energy 
is 9.1 GW. In the next few years, with the expansion of battery component 
projects in Ninghai and Jintan, the company's total production capacity is 
expected to reach 12GW-15GW.

Based on demand in emerging markets, thousands of projects are being developed 
and delivered globally

The market outside of China is expected to continue on a path of sustained 
growth. With the help of sustained breakthroughs in efficient technology and 
the leading production capacity advantages across the industry, Risen Energy 
has acted on the opportunity presented by the demand in emerging markets, 
expanding its business in overseas markets and promoting global development. 

This year, Risen Energy built the 132MW (dc) Merredin solar farm, the 
large-scale renewable power plant in Western Australia. The engineering design, 
construction, commissioning and operation of the project were all undertaken by 
Risen Energy. The solar module developer has established a solid reputation and 
a significant share of the market in Australia with its ongoing technical 
research and development, excellent component quality and experienced project 
team. It has also become one of the largest and most reliable suppliers of 
solar components in Australia due to its continued development there.

In addition to consolidating the investment and construction of power stations 
in Australia, Risen Energy has contributed to the Chinese government's "One 
Belt, One Road" initiative through activities in the markets of many countries 
and regions along the route. As one of the first group of photovoltaic 
manufacturers to have set up operations in Vietnam, Risen Energy has obtained 
many large orders in the market with its efficient technical products, rich EPC 
experience and localized operation strategy. To date the company has won the 
61MW solar project with Tasco, the 50MW solar power station project owned by 
Vietnam-based Bitexco Group's subsidiary, Hoang Son's 62 MW project and PNP 
HANOI's 50MW project, among other major projects in Ninh Thuan.

Up to now, the company has developed and delivered thousands of projects 
globally. Its efficient components have been sold to Kazakhstan, India, Nepal, 
Belarus, Ukraine, Romania, Bulgaria and Macedonia as well as other countries 
and regions around the world. 

SOURCE: Risen Energy Co., Ltd