四川英发睿能科技股份有限公司

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<p>The photovoltaic cell manufacturer Sichuan Yingfa RAYNEN Technology Co., Ltd. plans to go public in Hong Kong, focusing on N-type cells. Last year, the company turned a profit, with shareholders including the National Green Fund. Benefiting from the global growth in photovoltaic demand and anti-involution policies, Yingfa RAYNEN holds an advantage in the market. The company's P-type cells accounted for 91.9% of total revenue in 2023</p>

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The National Green Fund supports Yingfa RAYNEN's plan for listing in the photovoltaic sector

<p>Yingfa Ruineng Technology Co., Ltd. (abbreviated as Yingfa Ruineng) updated its prospectus and plans to list on the Hong Kong Stock Exchange. It is expected to generate revenue of 8.7 billion in 2025, with a profit of 860 million and a valuation of 8.6 billion. The company focuses on the research and production of photovoltaic cells, with revenues of 10.494 billion, 4.359 billion, and 8.713 billion from 2023 to 2025, respectively. In 2025, the revenue from N-type TOPCon cells is expected to account for 88.1%. The Zhang Fayu family controls 49.1% of the shares, while Nanjing Yingfa holds 45.63% of the equity</p>

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Yingfa Ruineng rushes to the Hong Kong stock market: 2025 revenue of 8.7 billion, profit of 860 million, valuation of 8.6 billion

四川英发睿能科技股份有限公司(N25199.HK)

The National Green Fund supports Yingfa RAYNEN's plan for listing in the photovoltaic sector

Yingfa Ruineng rushes to the Hong Kong stock market: 2025 revenue of 8.7 billion, profit of 860 million, valuation of 8.6 billion