PVTIME – LONGi Green Energy Technology Co., Ltd. (LONGi) disclosed on 10 April 2023 that it has signed an investment agreement with the People’s Government of Tongchuan City, Shaanxi Province of China, to jointly invest in and construct a monocrstalline solar cell project with an annual production capacity of 12GW.
According to the announcement, LONGi leye, a subsidiary of LONGi, will be in charge of the project, and will lease the land and facilities, purchase equipment and then manage it, with a total investment of 3.5 billion yuan. It is expected to be operational in the second half of 2024 and reach full production by the end of 2024.
This investment is still subject to the approval of the company’s internal authority based on the investment amount before implementation.
In addition, LONGi announced its preliminary earnings estimate that in FY2022, LONGi achieved total revenue of RMB128,998 million, an increase of 60.03% year on year, and net profit attributable to the shareholders of the listed company of RMB14,779 million, an increase of 62.66% year on year, and net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses of RMB14,347 million, an increase of 62.56% year on year. These are preliminary financial results which have not been audited.
