Emeren Group Ltd
1.8400-0.01 (-0.54%)
Oct 29, 4:00:02 PM EDT · NYSE · SOL · USD
Key Stats
Market Cap
94.43MP/E (TTM)
-Basic EPS (TTM)
-0.07Dividend Yield
0%Recent Filings
8-K
Emeren amends merger, adds Shah Capital
Emeren Group amended its June 2025 merger agreement on September 2, 2025, adding Shah Capital Opportunity Fund LP as a rollover securityholder, committing its 18,409,249 ADSs to exchange for Parent shares. The board, via an independent committee, recommends shareholders approve the deal at the October 21 EGM, with a September 15 record date. If approved, Emeren goes private, delisting from NYSE. Shareholder approval remains key.
10-Q
Q2 FY2025 results
Emeren Group's Q2 revenue fell 57% y/y to $12.9M, driven by lumpy project sales, yet electricity generation climbed 22% y/y to $10.6M on steady IPP output. Gross margin surged to 51.8% from 31.2%, thanks to the high-margin mix—IPP now 82% of top line. Operations swung to a $33.8M loss from $3.0M profit, hammered by a $27.3M non-cash asset impairment on solar stations. Cash dipped to $46.6M, but FCF turned positive at $0.4M (derived) amid $14.2M in new borrowings; total debt hit $42.6M. Non-GAAP metrics not disclosed in the 10-Q. Merger talks with Shurya Vitra drag on, pending approvals. Tariffs on China imports sting supply chains.
8-K
Leadership change and Q2 impairment
Emeren Group Ltd announced the departure of Executive Vice President Cameron 'Mac' Moore for North America on July 3, 2025, immediately appointing M. Jahangir Alam, a renewable energy veteran with nearly three decades of experience and over $12 billion in transactions, as his successor. The company also disclosed preliminary Q2 2025 results, including a non-cash impairment of at least $20 million on global property, plant, and equipment due to updated fair value assessments of power station assets. This leadership shift bolsters North American operations amid asset valuation pressures. Full results due mid-August.
8-K
Emeren merger goes private
Emeren Group Ltd signed a merger agreement on June 18, 2025, to go private via acquisition by Shurya Vitra Ltd., offering $0.20 per ordinary share or $2.00 per ADS in cash. The deal, backed by an equity commitment from Himanshu H. Shah, awaits shareholder approval and regulatory nods, with closure eyed for Q3 2025. Post-merger, Emeren's shares delist from NYSE. Termination fees hit $4.5 million either way.
10-Q
Q1 FY2025 results
Emeren swung to net income of $1.5M in Q1 FY2025 ended March 31, 2025, up from a $5.5M loss y/y, fueled by a $6.2M unrealized forex gain on the Euro's strength—yet operations lost $4.1M amid project cancellations. Revenue dipped 44% y/y to $8.2M (derived), with electricity generation up 24% y/y to $6.7M on better irradiation, but DSA fell 78% y/y to $1.1M from U.S. and Europe permitting delays; gross margin climbed to 39.4% from 29.6% y/y, driven by IPP strength. Cash climbed to $52.9M, bolstered by $15.3M in new borrowings including a $15.0M Hungary facility at 3.0% plus EURIBOR maturing 2035, secured by $44.7M assets—while total debt rose to $39.6M. Free cash flow not disclosed in the 10-Q. Diluted EPS of $0.03 aligns with 51.4M weighted shares. Leadership churn poses execution risks.
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