L R AS Published on Sunday 13 September 2020 - n° 331 - Categories:company results

LONGi's impressive results in the first half of the year. Net margin of 20

In thefirst half of the year, LONGi achieved sales of $2,933 million, of which $1,818 million (or 62%) was generated in China and $1,114 million (38%) abroad. Operating revenue increases by 43% over 2019. Net income reaches $600 million, more than double that of early 2019, despite lower wafer prices during the period. Net margin reaches 20.5%! This is due to a rapid change in the size of the wafers that were produced in the first half of the year.

Wafer sales were made outside the group for $360 million (+15%) and by internal use for $217 million.

Cell sales to third parties amounted to 338 MW (+15%).

The sale of panels using large cell formats reached 6,578 MW (+106%). Internal uses absorbed 222 MW.

The annual production capacity of monocrystalline silicon wafers reached 55 GW at the end of the first half of 2020. The production of monocrystalline silicon wafers reached approximately 4,400 billion pieces, an increase of 54% compared to the previous year.

Production capacity for monocrystalline photovoltaic panels reached 25 GW at the end of June. Production was 8,002 MW, an increase of 125% over the previous year.

https://www.pv-tech.org/news/longi-defies-gravity-with-record-revenue-profit-and-module-shipments-in-fir

PV Tech of August 29th

NDLR These figures are impressive. The most spectacular is the net margin, which exceeds 20% of sales. This is testimony to an excellent industrial organisation.

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