LONGi’s Module And Wafer Production Sees Rapid Growth, And Shipments Remain The No. 1 Worldwide

LONGi has released its 2021 and Q1 2022 annual reports to global shareholders, revealing that the company has maintained stable operations and achieved significant global shipments of products throughout the period.

The report put LONGi’s operating revenue for 2021 at CNY 80.932 billion, a year-on-year increase of 48.27%. Net profit attributable to the parent company during the period was CNY 9.086 billion, including CNY 8.826 billion of net profit deducted from non-recurring gains and losses attributable to shareholders of listed companies. The consolidated gross margin was 20.19% and the asset-liability ratio was 51.31%, down 8.07 percent points from the previous year. 

In terms of results for Q1 2022, the company achieved operating revenue of CNY 18.595 billion, up 17.29% compared to the same period in the previous year, and continues to lead the PV industry. LONGi sees significant potential for global energy transition and opportunities linked to the pursuit of worldwide carbon neutrality and has set itself the goal of achieving operating revenue of more than CNY 100 billion in 2022.

Wafer & Module production sees rapid growth and shipments remain No.1 globally. 

In 2021, LONGi achieved wafer shipments of 70.01GW. During the reporting period, the company’s global sales performance, market share, and brand influence ranked it 1st in the world, with its total shipment volume of domestic and exported modules exceeding 2nd place by more than 10GW. LONGi has issued 2022 shipment targets of 90GW-100GW (including internal use) for wafers and 50GW-60GW (including internal use) for modules.

In Q1 2022, LONGi achieved 18.36GW in mono-crystalline silicon wafer shipments, split between external sales of 8.42GW and 9.94GW for internal use, and shipped 6.44GW of mono-crystalline modules, of which external sales accounted for 6.35GW and internal use 0.09GW.

As of 2021, LONGi had secured a total of 1,387 authorized patents and invested CNY 4.394 billion in technology R&D, accounting for 5.43% of revenue, a year-on-year increase of 69.55%. In the past year alone, LONGi has broken the world record for cell conversion efficiency 7 times across various technical disciplines and laid claim to the overall leadership in new high-efficiency cell technologies including n-type and p-type TOPCon and n-type and p-type HJT. The company’s new solar cell technology will be put into production during the third quarter of 2022.

The 2021 annual report additionally states that LONGi has now reached 40.19% of renewable electricity use in its global operations and reduced greenhouse gas emissions by 1,687,933 tons, via the three disciplines of self-owned power generation facilities, procurement of third-party power generation facilities, and contract procurement of green power.

Note: The financial figures in the 2021 annual report and Q1 2022 report are quoted in the Chinese Yuan (CNY).