64.664 Billion Yuan! LONGi Expects an Increase in Net Profit in H1 2023

PVTIME – On 3rd July 2023, LONGi Green Energy Technology Co., Ltd. (601012.SH) the PV giant released its primary operating data which has been estimated from January to June 2023.

During the reporting period, the company’s total operating income was estimated to be 64.664 billion yuan, reflecting a year-on-year increase of 28.26%. The net profit attributable to shareholders of listed companies is expected to reach 9.179 billion yuan, which is a year-on-year increase of 41.63%. After deducing non-recurring profit or losses, the net profit of the listed companies’ shareholders amounted to 9,060 million yuan, an increase of 41.46% year-on-year. The basic earnings per share was 1.21 yuan, showing a 40.70% year-on-year increase.

According to the announcement, the demand for the global PV market saw rapid growth during this reporting period. The company utilized industry-leading technology, cost control, product quality, and brand reputation advantages, and optimized the integrated global industrial chain to promote the steady release of high-efficiency production capacity. Compared to last year’s same period, both silicon wafers and module shipments significantly increased. The decline in the upstream polysilicon material prices led to a repair in the company’s component products’ gross margins year-on-year. Furthermore, growth in investment income and foreign exchange earnings contributed to an increase in the net profit attributable to shareholders of listed companies during the reporting period.

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