Risen Energy plans to raise an additional 3.5 billion yuan to expand the scale of photovoltaic power plant business

Risen Energy announced on the evening of May 3 that the company intends to issue no more than 250 million shares to no more than 5 specific objects, raising no more than 3.
5 billion yuan, investing in 150MW centralized photovoltaic power generation project in Inner Mongolia (1.
2 billion yuan), 100MW centralized photovoltaic power generation project in Durango, Mexico (950 million yuan), 99MW fishery-solar complementary photovoltaic power generation project in Shepantu, Ninghai County, Ningbo City (700 million yuan), 80MW centralized photovoltaic power generation project in Chizhou City (600 million yuan), 8.
7MW distributed photovoltaic power generation project in Ninghai County, Zhejiang Province (50 million yuan).

Lin Haifeng, the controlling shareholder and actual controller of the Company, promised to subscribe for an amount of not less than RMB600 million
in cash at the same subscription price as other issuance targets.

Before its listing in 2010, Risen Energy was mainly engaged in the sales and manufacture
of solar modules and solar cells.
After the listing, the company made full use of the funds raised to expand the production capacity
of solar modules.
In 2011, the company began to get involved in the investment, construction and operation of foreign photovoltaic power plants with its own funds, and up to now the photovoltaic power generation projects that have been completed and connected to the grid and held and operated have achieved good results, bringing stable profits
to the company.
In 2014, the company set up a platform for power station investment and operation in China, quickly responded to favorable changes in policy and market environment, expanded to the downstream application of photovoltaic energy, and looked for flashpoints
for performance growth.

Risen Energy said that the funds raised by the private offering will expand the scale of the company's photovoltaic power plant business, which is intended to be used for the investment and construction of about 438MW photovoltaic power plant project, which can not only bring stable cash inflow and profit to the company after the project is put into operation, but also help drive the company's solar module accessories production and sales, which in turn will help strengthen the company's competitiveness in the field of photovoltaic power plants and lay a solid foundation
for improving the company's profitability and maintaining sustainable development.

The company's shares resumed trading
from the market open on May 4.