L R AS Published on Saturday 7 September 2019 - n° 288 - Categories:company results
LONGi achieves a net margin of 14.2% in the first half of the year and accelerates its investments in capacity
Anticipating a strong increase in demand and the success of its monocrystalline panels, LONGi is accelerating its project to increase production capacity: it is bringing forward by one year the setting up of a wafer production capacity to reach 65 GW by the end of 2020 (against 50 GW previously planned) compared to the 36 GW planned for the end of 2019.
Panel production capacity, which should reach 16 GW at the end of 2019, would be 25 GW at the end of 2020 and 30 GW at the end of 2021.
The accounts for thefirst half of the year show sales of 14.1 billion RMB ($1.97 billion), a 32% reduction in production costs in one year and a net profit of 2 billion RMB (net margin of 14.2% of sales). In six months, the company delivered 2.1 billion monosilicon wafers, 712 MW of cells and 3,193 MW of panels, of which 2.4 GW were exported (three times more than the 2018 exports).
PV Magazine of 4 September
Editor's note When you have a net margin of 14%, you have the financial resources to invest heavily. This is what LONGi is doing by accelerating the pace of its investments.
