Summary by Moomoo AI
Emeren Group, a solar and storage project developer and operator, reported a decrease in net revenue from $33.8 million in Q2 2023 to $30.1 million in Q2 2024. The company's gross profit also saw a decline from $12.7 million to $9.4 million in the same period, with a gross margin decrease from 37.4% to 31.2%. Operating profit stood at approximately $3.0 million, while net income was about $0.7 million. The decrease in net revenue was primarily due to a reduction in solar power project development and electricity generation, partially offset by increases in EPC services and DSA revenue. Emeren Group's operating expenses saw a slight increase, with general and administrative expenses rising from $5.3 million to $5.4 million year-on-year. The company's future plans include expanding the Development Service Agreement...Show More
