WASHINGTON (dpa-AFX) - Emeren Group (SOL) released preliminary financial results for the first quarter. The company expects: revenue of approximately $8.4 million, gross margin of approximately 32%; and non-GAAP operating loss of about $4 million. The company expects to report final first quarter results around mid-May.
Emeren also announced that Yumin Liu, CEO, will step down from his role effective April 30, 2025. The Board has appointed Julia Xu, currently an independent director, as Interim CEO, effective May 1, 2025. Emeren has initiated a formal search for next CEO. Emeren also formed a special committee which includes three independent directors Martin Bloom, Ramnath Iyer and Ramki Srinivasan to evaluate a going private proposal received on March 17, 2025.
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