Risen Energy Co., Ltd, predicts quarter 1 net profits at 345 Million RMB.
The quarter 1 review of Risen’s performance predicts an anticipated net profit of between 345 and 355 million RMB. Furthermore the review establishes completion of the share transfer on March 31st 2016, with 100% stake for Risen now in place with Shanghai Chaori (Luoyang) Solar Co., Ltd. Luoyang Chaori has been without production since December 2012.
Risen has implemented a restructuring program of Luoyan Chaori, and re-initiated production; the changes are anticipated to boost net profit from an originally forecast 160 to 170 million RMB to the newly stated numbers. The restructuring implementation is now underway, complete with extensive monitoring in place, allowing the Company to ensure the final implementation develops continuous profits for shareholders.