Risen Energy to use CNY 1.5bn in idle funds

Risen Energy (SZSE:300118) announced it will temporarily supplement its working capital with up to CNY 1,500 million in idle funds raised from its 2022 private placement, the company shared in a filing published June 9. The funds, sourced from the net proceeds of its private placement, are currently idle due to the construction timelines of the company's 5GW N-type ultra-low carbon heterojunction cell and 10GW high-efficiency solar module project and global high-efficiency photovoltaic R&D center.