昱辉阳光2022年度报告

TableofContents UNITEDSTATES SECURITIESANDEXCHANGECOMMISSIONWASHINGTON,D.C.20549 FORM20-F (MarkOne) ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR(g)OFTHESECURITIESEXCHANGEACTOF1934 OR ☒ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedDecember31,2022.OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Dateofeventrequiringthisshellcompanyreport Forthetransitionperiodfromto Commissionfilenumber:001-33911 EMERENGROUPLTD (ExactnameofRegistrantasspecifiedinitscharter) N/A (TranslationofRegistrant’snameintoEnglish) BritishVirginIslands (Jurisdictionofincorporationororganization) 100FirstStamfordPlace,Suite302 Stamford,CT06902U.S.A (Addressofprincipalexecutiveoffices) KeChen ChiefFinancialOfficer 100FirstStamfordPlace,Suite302 Stamford,CT06902U.S.A E-mail:ir@emeren.com SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct. TitleofeachclassTradingSymbol(s)Nameofeachexchangeonwhich registered AmericanDepositaryShares,eachrepresenting 10shares,noparvaluepershare SOLNewYorkStockExchange SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct. None (TitleofClass) TableofContents SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct. None (TitleofClass) IndicatethenumberofoutstandingsharesofeachoftheIssuer’sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport. 602,748,412shares,noparvaluepershare,asofDecember31,2022. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.Yes☐No☒ Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934.Yes☐No☒ Indicatebycheckmarkwhethertheregistrant:(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes ☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfileroranemerginggrowthcompany.Seedefinitionof“largeacceleratedfiler,”“acceleratedfiler,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☒ Emerginggrowthcompany☐ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentive-basedcompensationreceivedbyanyoftheregistrant’sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b).☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☒InternationalFinancialReportingStandardsasissuedbytheInternationalAccountingStandardsBoard☐Other☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow. Item17☐Item18☐ Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct).Yes☐No☒ †Theterm“neworrevisedfinancialaccountingstandard”referstoanyupdateissuedbytheFinancialAccountingStandardsBoardtoitsAccountingStandardsCodificationafterApril5,2012. TableofContents TABLEOFCONTENTS Page INTRODUCTION1 PARTI2 ITEM1.IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS2 ITEM2.OFFERSTATISTICSANDEXPECTEDTIMETABLE2 ITEM3.KEYINFORMATION2 ITEM4.INFORMATIONONTHECOMPANY40 ITEM4A.UNRESOLVEDSTAFFCOMMENTS65 ITEM5.OPERATINGANDFINANCIALREVIEWANDPROSPECTS65 ITEM6.DIRECTORS,SENIORMANAGEMENTANDEMPLOYEES83 ITEM7.MAJORSHAREHOLDERSANDRELATEDPARTYTRANSACTIONS91 ITEM8.FINANCIALINFORMATION93 ITEM9.THEOFFERANDLISTING94 ITEM10.ADDITIONALINFORMATION96 ITEM11.QUANTITATIVEANDQUALITATIVEDISCLOSURESABOUTMARKETRISK104 ITEM12.DESCRIPTIONOFSECURITIESOTHERTHANEQUITYSECURITIES105 PARTII107 ITEM13.DEFAULTS,DIV