LONGi recorded operating revenue of RMB 27.045 billion in the first half of 2026, as the solar manufacturer continued to strengthen its BC (Back Contact) technology portfolio and expand its presence in overseas markets despite challenging industry conditions.
The company’s BC module sales reached 19.55 GW during H1 2026, representing a 125% year-on-year increase and accounting for more than 65% of total module shipments. Overall module shipments stood at 29.93 GW, while wafer shipments reached 48.91 GW, including 18.98 GW of external sales. External cell sales stood at 0.86 GW.
LONGi’s overseas module shipments increased by more than 26% year-on-year, with overseas markets contributing more than 65% of its module business revenue. Shipments to the Americas increased by more than 36%, while Europe and Asia-Pacific recorded growth of over 34% and 20%, respectively. The company also secured more than 10 GW of BC module awards through domestic utility-scale procurement tenders and continued to expand its presence across Europe, Latin America, Southeast Asia, Pakistan and the UAE.
The company’s energy storage business also recorded growth, with cumulative signed orders exceeding 3 GWh during the reporting period. LONGi advanced energy storage collaborations across domestic and international markets and commissioned projects in Germany, Italy and Finland. The company said energy storage is increasingly becoming a core component of the evolving global power system.
Despite improvements in its product and market mix, LONGi’s profitability remained under pressure from industry-wide supply-demand imbalances, low capacity utilisation and elevated silver prices during the first quarter. Losses on some utility-scale orders, losses from associated enterprises and foreign exchange losses linked to RMB appreciation also weighed on net income.
China’s photovoltaic market experienced a significant demand correction during the period. According to China’s National Energy Administration, new PV installations reached 72.07 GW in H1 2026, down 66% year-on-year. LONGi attributed the slowdown to uncertainty surrounding project returns amid power tariff reforms, grid integration constraints and a high comparison base from the previous year’s installation rush.
The company said the photovoltaic industry continues to operate in a low-margin environment as supply-demand imbalances remain unresolved. However, LONGi’s gross margin improved by more than two percentage points year-on-year in H1 2026, supported by the increasing contribution of BC technology and an improved shipment mix.
LONGi also highlighted its financial position, with monetary funds exceeding RMB 48.6 billion, providing liquidity to navigate the ongoing industry cycle. On the technology front, the company obtained more than 4,100 authorised patents during the first half of the year, including 630 BC-related patents. Its crystalline silicon-perovskite tandem solar cell also achieved a 35.5% conversion efficiency, setting a new world record according to the company.
LONGi said its technology development, growing overseas presence, energy storage expansion and financial strength would support its long-term competitiveness as the solar industry works through the current supply-demand imbalance.
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