L R AS Published on Monday 27 April 2020 - n° 319 - Categories:company results
LONGi presented its 2019 financial statements
Last year, the company produced 4,700 billion monosilicon wafers (+ 139% over 2018). It achieved an operating profit of $4.6 billion (+49% over 2018). Net income reached $746 million (+106%). (Editor's note: the turnover is not mentioned)
By the end of 2019, the company's production capacity for monocrystalline silicon wafers reached 42 GW. LONGi plans to reach a monocrystalline wafer production capacity of 75 GW in 2020.
In the photovoltaic cell and panel production subsidiary (LONGi Solar), sales reached 7,394 MW, an increase of 23%. Exports of photovoltaic panels reached 4,991 MW, an increase of 154% over 2018, and represent 67% of total sales.
LONGi Solar's production capacity was 14 GW at the end of 2019. It is planned to double this capacity to 30 GW by the end of 2020.
In 2019, orders for panels using M6-format wafers had reached 10 GW.
In thefirst quarter of 2020 :
LONGi's sales reached $1.2 billion compared with $826 million last year. It achieved net profit of $263 million (+205% on 2018 profit which was particularly low). The net margin was 21.8%.
PV Tech of April 24
Editor's note With such growth and profitability, it is logical that the company sees itself through the crisis without any problems, looks forward to a bright future, and plans a huge capacity expansion.
