Junan Securities recently released research report, photovoltaic industry accelerated the recovery and Risen energy’s performance was better than expected. Junan Securities gave the Risen Outperform rating, raised its target price to 12 yuan.
Benefit from the downstream distributed power plant construction. Risen Company and China General Nuclear Power Group coupled with a joint venture company of Ningbo electricity participated in new energy demonstration projects distributed 150MW, according to our estimates, the IRR of the project up to 11%. Taking into account the contribution of overseas power plant construction, we expect the company will use the funds recover rolling, and maintain an annual scale of tens of megawatts of power plant construction in the later period, providing additional performance through the transfer station pick-up power. Through photovoltaic power station construction and agricultural greenhouses driven component sales, Risen energy’s capacity utilization will remain at a high level.
