Emeren Group Ltd (NYSE:SOL) Q2 2023 Earnings Conference Call August 31, 2023 5:00 PM ET

Company Participants

Yujia Zhai - Managing Director, The Blueshirt Group

Himanshu Shah - Chairman of the Board

Yumin Liu - Chief Executive Officer

Ke Chen - Chief Financial Officer

Conference Call Participants

Donovan Schafer - Northland Capital Markets

Matthew Koranda - ROTH MKM

Amit Dayal - H.C. Wainwright

Pavel Molchanov - Raymond James

Operator

Hello, ladies and gentlemen. Thank you for standing by for Emeren Group Limited Second Quarter 2023 Earnings Conference Call. Please note that we are recording today's conference call.

I will now turn over the call to Mr. Yujia Zhai, Managing Director of The Blueshirt Group. Please go ahead, Mr. Zhai.

Yujia Zhai

Thank you, operator, and hello, everyone. Thank you for joining us today to discuss our second quarter 2023 results. We released our shareholder letter after the market close today and is available on our website at ir.emeren.com. We also provided a supplemental presentation that's posted on our IR website that we will reference during our prepared remarks.

On the call with me today are Mr. Himanshu Shah, Chairman of the Board; Mr. Yumin Liu, Chief Executive Officer; and Mr. Ke Chen, Chief Financial Officer.

Before we continue, please turn to slide two. Let me remind you that remarks made during this call may include predictions, estimates and other information that might be considered forward-looking. These forward-looking statements represent Emeren Group's current judgment for the future.

However, they are subject to risks and uncertainties that could cause actual results to differ materially. Those risks are described under Risk Factors and elsewhere and Emeren Group's filings with the SEC. Please do not place undue reliance on these forward-looking statements, which reflect Emeren Group's opinions only as of the date of this call. Emeren Group is not obligated to update you on any revisions to these forward-looking statements.

Also, please note that unless otherwise stated, all figures mentioned during the conference call are in US dollars.

With that let me now turn the call over to Mr. Himanshu Shah. Himanshu?

Himanshu Shah

Thank you. Great to be here and good day to everyone. Strategically, Emeren is positioned well, and we do have a strong balance sheet. The two strategic acquisitions that we made 10 months ago in UK and Italy have been operationally accretive to our results. It says a lot about our disciplined acquisition methodology. Our equity buyback also has been accretive to our shareholder value. Out of our almost 5 gigawatt hour of storage pipeline and keen focus going forward, which is a step in the right direction. Our team is also executing well, as can be seen from our second quarter results.