L R AS Published on Sunday 7 May 2023 - n° 444 - Categories:company results, Chinese company
LONGi in 2022-2023: strong sales and profit growth
In 2022, LONGi produced 85 GW of chips, half of which was sold to external customers and the other half used for its own manufacturing. It also produced 47 GW of panels. The company achieved a turnover of RMB 129 billion ($18.6 billion) in 2022: the increase reached
60% over 2021.
Net profit is RMB 14.8 billion (+63%). Net cash flow from operating activities almost doubled compared to 2021, (+98%) to RMB 24.4 billion ($3.5 billion).
By the end of 2022, wafer capacity was 133 GW; cell capacity was 50 GW; panel capacity was 85 GW. LONGi plans to significantly increase these capacities by the end of 2023: the target production capacities for wafers, cells and monocrystalline panels are set at 190 GW, 110 GW and 130 GW respectively. The company intends to ship 85 GW of panels by the end of this year.
https://www.pv-tech.org/longi-produced-85gw-of-wafers-last-year-amidst-shipment-and-revenue-growth/
PV Tech of 5 May 2023
Editor's note: If global demand reaches 380 GW in 2023, wafer production capacity represents half of global demand! and a third in panels! Of course, other companies will not be able to keep up with this pace and will be marginalised. The concentration will increase in 2023 and 2024.
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LONGi expects to reach a turnover of over 160 billion RMB by 2023. In terms of shipment targets, the company aims to ship 130 GW of mono-Si wafers and 85 GW of cells and panels by 2023. These shipment targets include quantities for internal use. Finally, in terms of revenue, the company hopes to exceed RMB 160 billion by 2023.
Heterojunction cells have achieved a conversion rate of 26.8%.
https://www.energytrend.com/news/20230505-32025.html
EnergyTrend of 5 May 2023
