LONGi Reports Better Mid-Year Results and Top PHOTON Rank for Financial Health

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08 Sep, 2017, 01:00 GMT

SHANGHAI, Sept. 8, 2017 /PRNewswire/ -- LONGi's 1H17 report discloses revenue of RMB 6.276 billion, net profit of RMB 1.236 billion with a year-on-year increase of 43.6%, and consolidated gross margin of 35.11%.

The R & D investment is RMB 444 million, accounting for 7.1% of the revenue. The continuous and big R & D investment will maintain or even sharpen the leading edge of LONGi.

This image opens in the lightbox — LONGi Solar ranked No.1 in terms of PV Triathlon financial health rating.

During the reporting period, the demands for monocrystalline products representing high efficiency and high quality remained robust, the products sold well, and the monocrystalline market share further increased. The monocrystalline module shipment in the Chinese market exceeded 2GW, which is more than three times of the shipment in the same period last year.

To relieve the supply crunch of monocrystalline products, LONGi has accelerated the progress of new and expansion projects while ensuring full utilization of existing capacity.

LONGi Yinchuan 5GW monocrystalline silicon ingot project and LONGi Ningxia 1GW monocrystalline silicon ingot project have entered the equipment debugging stage;
LONGi Kuching 300MW monocrystalline silicon ingot, 1GW monocrystalline silicon wafer, 500MW monocrystalline cell and 500MW mono module project has entered the final stage, and is expected to achieve full production in 4Q17;
LONGi Baoshan 5GW monocrystalline silicon ingot project and LONGi Xi'an 500MW module project are accelerating the plant construction.

In the 2Q 2017 of the PV Triathlon released by PHOTON Consulting recently, LONGi Solar ranked No.1 in terms of financial health.

PHOTON Consulting, a global leading consulting and research institution, analyzed and compared with 56 solar companies around the world based on their current financial health, cost and profitability leadership, and sustainability of company business strategy. By virtue of strong productivity and good cost control, LONGi Solar was listed No.1 in terms of financial health, No.5 in 1^st quartile in terms of overall performance, and No.3 in terms of sustainability and cost control.

With the launch of PV3.0 era and 300W+ global marketing in 3Q, LONGi Solar is expected to vigorously promote overseas business to further enhance the 2H and full-year performance.

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