LONGi Anticipates Net Profit of 5 to 5.3 Billion Yuan for 2019

CHANGCHUN, China, January. 16, 2019 /PVTIME/ -- LONGI Green Energy Technology Co., Ltd. (hereby referred
to as the “company”) released its 2019 earnings guidance today.

According to the press release, the company is expected
to realize a net profit attributable to shareholders of between 5 billion to
5.3 billion yuan from January 1, 2019 to December 31, 2019, an increase of
95.47% to 107.19% compared to the same period for last year.

After deducting non-recurring profit and losses, the company estimates
that the net profit attributable to shareholders in 2019 will be 4.817 billion
to 5.117 billion yuan, an increase of 105.5% to 118.3% compared with the same
period last year.

The main reason for this performance increase in 2019 is due to the continuous
development of the global photovoltaic industry and the significant growth of the
overseas market. Driven by the demand growth of the overseas markets,
photovoltaic power generation applications have developed rapidly around the
world. Presently, photovoltaics has become the cheapest power generation method
in many countries and regions around the world, and domestic progress towards grid
parity is making strides as well. Benefiting from the higher cost to performance
ratio of monocrystalline products, the company’s monocrystalline market share increased
quickly during the reporting period.

Seizing the opportunities created by the industry's development trends and
making the enhancement of customer value as a priority. The company continuously
promotes technological innovation, makes product structure adjustments and
capacity upgrades, increases overseas market expansion efforts, and accelerates
the speed of capacity expansion. In 2019, the company's sales of its main
products, monocrystalline silicon wafers and monocrystalline module, increased
significantly year-on-year. Furthermore, overseas monocrystalline module sales
revenue and proportion saw significant increases, module product sales area expanded
further, production costs continued to decrease, and the gross profit margin
increased year-on-year.


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