Emeren(SOL) - 2024 Q1 - Quarterly Results

Exhibit 99.1 May 23, 2024 Fellow Shareholders, In the first quarter of 2024, we generated $14.8 million in revenue, marking a 15% increase year over year. Our gross profit soared to $4.0 million, more than doubling from the previous year, with the gross margin reaching 27.2%. The operating loss was approximately $0.7 million, significantly reduced from last year. This substantial growth in revenue was primarily driven by our expanding Development Service Agreement (DSA) business, which generated over $5 mil ...