Risen Energy adjusts governance, reports Q2 performance

Risen Energy reported a 28.84% decrease in operating revenue to 7.44bn yuan for the first half of 2025, compared to 10.46bn yuan in the same period last year. Net profit attributable to shareholders improved by 29.49% to -678.85m yuan from -962.75m yuan, with basic and diluted earnings per share at -0.6053 yuan. The company’s total assets declined by 13.75% to 37.17bn yuan.

The company announced a significant adjustment to its management structure, eliminating the Supervisory Board and transferring its functions to the Board of Directors’ Audit Committee. This change necessitates revisions to the Articles of Association and various internal governance documents, which will be put to a vote at the second extraordinary general meeting of shareholders on September 16, 2025. Additionally, Risen Energy received approval from the National Development and Reform Commission for offshore bond issuance, enabling a total foreign debt of $294m. The company reported that 150m yuan of temporarily idle raised funds were used to supplement working capital as of June 30, 2025.