PVTIME – LONGi issued its financial report for H1 2021 after the market’s closing yesterday.
According to the semiannual report, LONGi’s revenue in the first half of the year was 35.098 billion yuan, a year-on-year increase of 74.26%. Its net profit attributable to listed companies was 4.99 billion yuan, a year-on-year increase of 21.30%. The company’s net profit after deducting nonrecurring gain and loss was 4.904 billion yuan, a year-on-year increase of 25.95%.
LONGi’s total assets were 97.130 billion yuan, a year-on-year increase of 10.84%, and its asset-liability ratio was 55.18%, down 4.20% from the end of 2020. In addition, LONGi said that it will continue to maintain steady operations and reasonably control its asset-liability structure.
In the first half of 2021, LONGi achieved a monocrystalline silicon wafer shipment volume of 38.36GW, 19.6GW of which were for self-use while 18.76GW were external sales, a year-on-year increase of 36.48%. The shipment volume of monocrystalline modules was 17.01GW, including 0.41GW for self-use and 16.60GW externally, a year-on-year increase of 152.40%. LONGi’s proportion of module revenue increased from 57% in the first half of 2020 to 67% in the first half of 2021. According to the prediction of PVInfoLink, LONGi’s module shipment will continue to rank first among the industry for the first half of 2021.
In the first half of this year, LONGi released a new generation of bifacial modules named Hi-MO N. The Hi-MO N maintains the optimal 182mm cell and 72c module size and adopts LONGi’s proprietary HPC technique based on N-type TOPCon. The conversion efficiency is up to 22.3% and power reaches 570W in mass production. In tandem with “Zero” cell damage and LONGi’s proprietary smart soldering technology, Hi-MO N is PID-free under irradiance and brings customers high-efficiency, high reliability, and low-cost high-quality products.
LONGi has demonstrated its in-depth research and technical prowess for solar cell technologies such as TOPCon and HJT. In early June 2021, LONGi announced a trio of world records as the conversion efficiency of its n-type TOPCon cell had reached 25.21%. The conversion efficiency of its HJT cell had reached 25.26%, and the conversion efficiency of its p-type TOPCon cell had reached 25.19%, It is worth noting that the efficiency records of its n-type TOPCon and HJT cells were included in the 58th edition of the ‘Solar cell efficiency table’ written by Professor Martin Green of the University of New South Wales.
Currently，the company carries out photovoltaic power station development, system solution provision, and production in many places at home and abroad. According to the report, LONGi’s monocrystalline silicon rod and wafer production bases are mainly concentrated in Shaanxi (Xi’an), Ningxia (Yinchuan, Zhongning), Yunnan (Lijiang, Baoshan, Qujing, Chuxiong), and Malaysia (Kuching). Its monocrystalline cell production bases are mainly concentrated in Shaanxi (Xi’an), Ningxia (Yinchuan), Jiangsu (Taizhou), Malaysia (Kuching), and Vietnam (Beijiang). Its module production bases are mainly concentrated in Anhui (Chuzhou), Zhejiang (Quzhou and Jiaxing), Jiangsu (Taizhou), Shaanxi (Xi’an and Xianyang), Shanxi (Datong), and Vietnam (Beijiang). The company’s photovoltaic hydrogen production project is currently located in Jiangsu (Wuxi).
