Longi with ambitious expansion plans
Recently Longi released its 2018 annual report and first quarterly results. The report shows Longi’s operation revenue in 2018 was ¥21.988 billion (2,9 Mrd. EUR), an increase of 34.38% over the previous year and net profit attributed to shareholders of listed companies was ¥2.558 billion (338 Mio. EUR). As of the first quarter 2019, the company’s total assets was ¥43.165 billion (5,7 Mrd. EUR). Independent third-party research data showed Longi accounted for 40% of the industry’s monocrystalline silicon wafer capacity, reinforcing its position as the largest monocrystalline module manufacturer in the world. According to BNEF, the financial health index, as measured by Alman-Z score, of LONGi ranks second in all global photovoltaic enterprises and first in China.
7.072 GW mono cell and module shipment in 2018
In 2018, Longi overseas shipments of monocrystalline silicon wafer was 3.483 billion pieces, an increase of 59% over the previous year. Annual shipment of solar cells and modules reached 7.072 GW, a 50% increase over the previous year. Longi has actively promoted its brand internationally, made breakthroughs in business operations, and achieved rapid growth in shipments in the US, Europe, India, Latin America, Japan, Australia and Africa.
Looking ahead, Longi will continue its focus on the global market and strive to achieve customer, service and management globalization to serve customers with high-efficiency advanced products.
By the end of 2018, the production capacity of Longi monocrystalline silicon ingot/wafer has reached 28GW. The Chuzhou 5 GW module factory in Anhui Province was operational in March 2019, further expanding Longi's global high-efficiency monocrystalline module capacity.
2018 Longi obtained 526 patents
Longi also released the latest capacity planning: By the end of 2019, the capacity of ingot/wafer will be 36GW, cell capacity 10GW and module capacity 16GW. By the end of 2020, the capacity of ingot/wafer will be 50 GW, while cell capacity will be 15 GW and module capacity 25 GW. By the end of 2021, the capacity of ingot/wafer will reach 65GW, the capacity of cell 20GW and the capacity of module 30 GW.
The report consistently showed that sustained R&D investment has provided strong support for the development of new technologies and products in Longi. In 2018, the company has obtained 526 patents. (HCN)
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