LONGi 2020 Annual Report: Operating Income of 54.483 Billion Yuan, Net Profit of 8.552 Billion Yuan

PVTIME - According to LONGi’s 2020 annual report published on April 20, the company achieved an operating income of 54.483 billion yuan in 2020, a year-on-year increase of 65.92%.

LONGi’s net profit attributable to the parent company during the period was 8.552 billion yuan, a year-on-year increase of 61.99%. The company’s net profit attributable to the shareholders of the listed company after deducting the non-recurring gains and losses was 8.143 billion yuan, a year-on-year increase of 59.87%.

During the reporting period, LONGi shipped 58.15GW in monocrystalline wafers, 31.84GW of which went overseas. In terms of module shipments, 23.96GW of the 24.53GW were shipped internationally.

According to PV Tech’s ModuleTech Bankability rankings, LONGi has been the sole AAA-rated module supplier for four consecutive years. Furthermore, LONGi currently holds the highest score for BloombergNEF’s Altman-Z score chart for solar module manufacturers.

The report highlighted that, by the end of 2020, the company’s monocrystalline wafer, cell, and module production capacities reached 85GW, 30GW, and 50GW, respectively. LONGi estimates that its monocrystalline wafer, cell, and module production capacities in 2021 will reach 105GW, 38GW, and 65GW, respectively.

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