Ninghai China- December 30, 2020--Recently, Risen Energy Co., Ltd. issued an announcement stating that the company’s wholly-owned subsidiary company, Risen Energy (Changzhou) Import and Export Co., Ltd. (hereinafter referred to as "Changzhou Import and Export"), and Wuxi Shangji Automation’s wholly-owned subsidiary, Hongyuan New Materials (Baotou) Co., Ltd. (hereinafter referred to as "Hongyuan New Materials"), signed the 3-year " Framework Contract of Silicon Wafer Procurement "

According to the announcement, from 2021 to 2023, Changzhou Import and Export, a subsidiary of Risen Energy, will purchase 2.25 billion monocrystalline silicon wafers from Hongyuan New Materials with a fluctuation of no more than 10% (the size of wafers can be adjusted according to demand, but the overall procurement number remains the same). Among them, 450 million pieces will be purchased in 2021, 800 million pieces will be purchased in 2022, while 1 billion pieces will be purchased in 2023. According to the current market price (based on the latest average price of monocrystalline silicon wafers announced by PV InfoLink) and the production schedule of both parties, it is estimated that the total purchase amount for three years is about 11.363 billion yuan (tax included).

As a leading A-share photovoltaic company, Risen Energy focuses on the R&D and production of solar crystalline silicon cells and modules, and the construction and operation of photovoltaic power stations. It has accumulated a wealth of technical reserves in the field of high-efficiency photovoltaic cells and modules, possessing industry-leading mass production technology capabilities and productivity advantages. The signing of this purchase contract demonstrates Risen Energy’s confidence in the company’s future development. It will also provide a strong guarantee for the company’s production capacity planning and subsequent market development.

Since November 2020, Risen Energy has actively promoted multi-party cooperation in the photovoltaic industry chain. First, it signed a strategic cooperation agreement on "Co-build 600W+ Industrial Ecosystem" with Sineng Electric and Trina Solar. Then Risen Energy joined seven upstream and downstream photovoltaic companies on 210mm silicon to issue the proposal for the release of unified standards for cell and module sizes, promoting the gradual improvement of the 210 industrial chain’s ecosystem. Meanwhile, Risen Energy’s Titan series of 500W modules have been ordered and successfully applied to a roof project in Poland. In addition, the 5GW high-efficiency solar-cell-module production project in Chuzhou, Anhui, invested and constructed by the company, has officially started construction recently.

The signing of this long-term procurement framework contract will provide strong guarantee for the long-term stable production and supply of large-size monocrystalline silicon wafers from Risen Energy. It will also help the company effectively grasp market changes and meet customer orders’ requirements. At present, Risen Energy has built new photovoltaic production bases in Ninghai, Changzhou, Yiwu, Chuzhou, Malaysia, etc. It is expected that the production capacity of photovoltaic modules will not be less than 30GW by the end of 2021. In the future, the company will continue to increase production scale of large-size battery modules in accordance with the continuous improvement of market acceptance of large-size modules, continually ensuring the company’s core competitiveness.

About RISEN ENERGY CO., LTD
 
Risen Energy Co., Ltd. was founded in 1986 and listed as a Chinese public company (Stock Code: 300118) in 2010. Risen Energy is one of the pioneers in solar industry and has committed to this industry as a R&D expert, an integrated manufacturer from wafers to modules, a manufacturer of off-grid systems, and also an investor, a developer and an EPC of PV projects. Aiming to deliver the green energy worldwide, Risen Energy is developing internationally with offices and sales networks in China, Germany, Australia, Mexico, India, Japan, USA and others. After years of efforts, it has reached a module production capacity of 12.6GW. While growing rapidly, Risen Energy keeps a stable pace with an average debt ratio at around 60% from 2011 to 2020.