94.1 Billion Yuan! LONGi Disclosed Its Q3 Report 2023

PVTIME – On 30 October 2023, LONGi Green Energy Technology Co.,Ltd.(LONGi)(601012.SH), the PV giant, released its third quarterly report for 2023. The report indicates that in the first three quarters of 2023, LONGi generated an operating revenue of 94.1 billion yuan, which marks an increase of 8.55% year-on-year. Additionally, the net profit attributable to shareholders of listed companies was 11.694 billion yuan, up 6.54% year-on-year. Its operating income in this reporting period declined by 18.92% year-on-year due to the market change and increased investment in R&D.

LONGi has endeavoured to create value for its customers over the long term. It has adjusted its business strategy and organisational structure in a timely manner in line with market changes. Resources were allocated judiciously to mitigate market uncertainties to the best extent possible while continuing to offer customers excellent products and services. Although competition within the photovoltaic industry intensified in the reporting period due to rapid expansion of new production capacity at every stage of the industrial chain and continuous decline of industrial chain prices, LONGi strived to remain competitive. From January to September 2023, LONGi accomplished external sales of 37.45GW of monocrystalline wafers, 4.71GW of monocrystalline cells, and shipped 43.53GW of mono modules, selling 43.12GW externally and utilizing 0.41GW for self-use.

LONGi advanced from delivering products to providing energy solutions. With the diverse development of terminal application scenarios, the Company maintained a strong awareness of changes in market demand, and by leveraging technological manufacturing, it enhanced its service capabilities in various scenarios. During the reporting period, Longi focused on iteratively upgrading and industrialising high-efficiency BC technology, while striving to improve the mass production yields and conversion efficiency of HPBC products. On 8th October 2023, Longi successfully launched the Hi-MO X6 anti-accumulation module, which is an upgraded and evolved version of the Hi-MO 6 product, and features four major benefits, including aesthetics, high power generation efficiency, safety, reliability, and anti-accumulation.

LONGi continued to implement its product leadership strategy while maintaining high-intensity investment in research and development. Simultaneously, the company bolstered its market and product insight capabilities, fostered technological innovation and processing upgrades, and increased its capacity. A range of high-efficiency BC modules, including the HPBC Pro module, has been developed. The project is anticipated to commence operation before the end of 2024. As the older products are replaced, the advantages of new products featuring cutting-edge technology will gradually increase.

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