Erayak reports 437% generators sales increase in first half of FY22

Erayak Power Solution Group provided the following information concerning the Company’s generator sales in 2022. For the first half of 2022, sales of the Company’s generators were $3.65M, a 437% increase compared to $835,000 in the first half of 2021. Generator sales in the second half of 2021 were $720,000 and the generator sales in the second half of 2022 are expected to continue similar growth rate as seen in the first half of 2022. The increase in generator sales is due to the continuous impact of the Russia-Ukraine situation this year, resulting in an unprecedented energy crisis that has significantly increased demand for the Company’s generators. 65% of generator sales are ultimately distributed to Europe.