BRIEF: Rising solar cell prices lift Drinda back to the black

Hainan Deruida New Energy Technology Co., Ltd.; announced on Thursday that its first-quarter revenue decreased by 9.6% year-on-year to RMB 1.69 billion (USD 248 million), but its net profit was RMB 14.16 million, turning a profit from a loss of RMB 105.9 million in the same period last year. The company stated that the improvement in profitability was mainly due to the rise in solar cell prices, which enhanced profit margins. During this period, the company acquired shares in Shanghai Xingyi New Energy Technology and purchased 60% of Shanghai Fuyao Xinghe Aerospace Technology, thereby indirectly controlling Shanghai Xuntian Qianhe Space Technology to expand application scenarios and develop a second growth curve