Photovoltaic enterprise completes over 100 million yuan in round B financing

Recently, Jiangsu Riyu Photovoltaic New Materials Co., Ltd. completed a round B financing of over 100 million yuan. This round of financing was led by Bohua Capital and Huatai United Securities served as a financial advisor. The funds from this round of financing will continue to be used to attract top talents in the industry, increase R&D investment and business expansion, and increase the market share of N-type silver paste.

Guo Peng, Chairman of Riyu Shares, said: Thank you investors for your trust in Riyu Photovoltaic. This financing will provide strong support for the company's future development. 2024 is the year of adjustment for the photovoltaic industry, but Riyu Shares will firmly grasp the opportunities brought by the industry adjustment, meet challenges head-on, help the industry achieve cost reduction and efficiency improvement, expand the market share of N-type silver paste, enhance the company's industry status, provide customers with better silver paste products, and contribute to improving the level of local new quality productivity. , Work hard to give back to society and investors.

Zhao Ye, Executive Director of Bohua Capital, said: Bohua Capital adheres to the concept of long-term investment, actively responds to the country's strategic requirements of serving the real economy and being patient capital, and is firmly optimistic about China's photovoltaic industry. It always believes that short-term adjustments will not change the long-term positive trend of the industry. As the core auxiliary material of photovoltaic cells, silver paste is directly related to the cost and efficiency of photovoltaic products. The continuous iteration of its products is of great significance to the cost reduction and efficiency improvement of the industry. Riyu Co., Ltd. is an emerging force in the domestic N-type silver paste industry. It focuses on product research and development, has strong technical strength, and has rapid shipment growth. It is expected to grow into a new leading company. Bohua Capital looks forward to growing with the company and contributing to the development of China's photovoltaic industry and the improvement of new quality productivity. Riyu Co., Ltd. is a leading domestic N-type silver paste manufacturer. Its products cover various technical routes such as PERC, TOPCon, BC, and HJT. Among them, HPBC silver paste and TOPCon LECO silver paste products have excellent performance and are at the leading level in the industry. The company's customers have covered mainstream domestic photovoltaic cell manufacturers. In the first half of 2024 when the photovoltaic industry entered an adjustment period, the company's shipments still achieved a year-on-year growth of 166%.