Shenzhen Stock Exchange
Image: Jay Sterling Austin, Wikimedia Commons
Risen solar energy said it posted a net loss of CNY963 million in the first half of 2024, a sharp decline from a net profit of CNY861 million in the same period last year. The company’s revenue fell 40.59% year on year to CNY 10.459 billion. The company shipped 7.92 GW of PV modules in the first half of the year and had a module production capacity of 35 GW at the end of the reporting period. Risen Solar is now expanding its production of heterojunction cells (HJT) and exploring energy storage. It says R&D spending fell 34.35% in the first six months of this year.
Sunny posted an operating profit of CNY31.02 billion in the first half of the year, up 8.38% year-on-year. Net profit attributable to shareholders amounted to CNY 4.959 billion, an increase of 13.89%. The inverter business generated revenue of CNY 13.093 billion, up 12.7% year-on-year and accounting for 42.2% of total revenue. The renewable energy development segment generated CNY 8.955 billion, while energy storage system revenues fell slightly to CNY 7.816 billion.
Arctech Solar said net profit rose 135.86% year-on-year to CNY231 million in the first half of 2024, on CNY3.376 billion in operating revenue. At the end of the reporting period, the company had approximately CNY 3.209 billion in orders. The bracket business accounted for CNY 2.966 billion of the total, including CNY 1.96 billion for tracking brackets and CNY 1 billion for fixed brackets. The building-integrated solar photovoltaic (BIPV) business contributed CNY 196 million, while other activities contributed a total of approximately CNY 47 million.
Chinese energy engineering group‘s engineering, procurement and construction (EPC) unit, Energy China International, has signed a contract for a 125 MW solar project in Erbil, Iraq, with Bros Energy Company of Turkey and Ster Group of Iraq. This project, which is part of the first phase of the 1 GW solar power plant in Erbil, involves the design, procurement, installation and commissioning of a 125 MW solar power plant and a 132 kV substation over a period of 12 months . The completed project is expected to generate 259 GWh per year.
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