Ruihe Jintan to list on emerging stock market Aug 12, eyes IPO next year

Ruihe Jintan, a company focused on rooftop solar power, is preparing for its debut on Taiwan's emerging stock market on August 12. Chairman Chen Kun-hung and General Manager Xu Cong-ping announced that they will submit a prospectus to regulators in mid-July. The company also plans to conduct its initial public offering (IPO) next year.

Major shareholders include Acer, holding approximately 26%, and other investors such as Global Life Insurance, KGI Life Insurance, Taishin Financial Holdings Venture Capital, and Cathay Financial Holdings Venture Capital, each holding about 5%. The company is also actively entering the hydrogen energy market.

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We will continue to deepen our investment in renewable energy assets, and combine AI smart energy management, green power trading, and hydrogen energy technology, to develop into a 'low-conflict distributed energy and low-carbon electricity integrated service provider.'

Ruihe Jintan has a paid-in capital of NT$307 million and a net asset value per share of NT$32. Last year, its revenue reached NT$823 million, an 83.46% year-on-year increase, with a net profit of NT$43 million, or NT$2.89 per share. The company currently holds about 160MW of solar assets with accumulated green power contracts totaling approximately NT$3.4 billion.

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We will promote projects related to friendly agriculture, local development, and biodiversity. This approach aims to combine renewable energy revenue with local sustainable development, creating a business model that balances energy development with social well-being.

Chen stated that Ruihe Jintan will continue to deepen its investment in renewable energy assets. It plans to integrate AI smart energy management, green power trading, and hydrogen energy technology to develop into a "low-conflict distributed energy and low-carbon electricity integrated service provider." Through its wholly-owned subsidiary, Sanxiao Cultural and Creative, the company will also promote projects related to friendly agriculture, local development, and biodiversity. This approach aims to combine renewable energy revenue with local sustainable development, creating a business model that balances energy development with social well-being.

Furthermore, Ruihe Jintan is expanding into hydrogen and ammonia energy technologies, collaborating with international ammonia technology companies. The company is investing in "ammonia-to-hydrogen" power generation technology. By the end of June this year, Hydrogen Ruihe Low Carbon SPV completed its first round of fundraising, with Acer and AUO as shareholders, each holding 30%. The company anticipates producing Taiwan's first batch of 24-hour low-carbon electricity from ammonia-to-hydrogen in the second half of 2027. This initiative aims to provide a more stable power supply, complementing the intermittent nature of renewable energy and expanding the company's low-carbon energy service footprint.

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We are further expanding into hydrogen and ammonia energy technologies, and have started cooperation with international ammonia technology companies, investing in 'ammonia-to-hydrogen' power generation technology development.