The world's largest solar manufacturer LONGi Green Energy Technology of China increased its monocrystalline silicon wafer shipments in H1/2023 by over 31% YoY to 52.05 GW, while module shipments improved by 48% to 26.64 GW. Of these, 22.98 GW of wafers and 26.49 GW of modules were sold externally.
Monocrystalline silicon cell shipments of 31.5 GW included 3.28 GW sold externally, the company reported.
Aligned with its preliminary business forecast, LONGi achieved RMB 64.65 billion ($8.87 billion) operating income in the 1st half of 2023, representing an annual growth of 28.36%. Net profit too rose 41.63% to RMB 9.178 billion ($1.26 billion).
The manufacturer expanded its operational capacity during the period with the commissioning of a 46 GW monocrystalline silicon ingot wafer fab in Lijiang (phase III), along with 10 GW annual ingot and 3.35 GW cell facility in Vietnam.
It continues to expand further with subsidiaries Xixian Solar and Taizhou Solar working on 29 GW cell and 4 GW monocrystalline solar cell facilities, respectively.
Outside the home turf, LONGi says it is on track to add 6.6 GW of monocrystalline silicon ingot capacity in Malaysia by the end of 2023. In the Southeast Asian nation, it added 2.8 GW of module capacity in August 2023.
At the end of 2022, LONGi's total production capacity of monocrystalline silicon wafers, cells and modules reached 133 GW, 50 GW and 85 GW, respectively. By the end of 2023, it aims to expand the same to 190 GW, 110 GW and 130 GW.
LONGi had earlier guided its 2023 revenues to exceed RMB 160 billion ($23.95 billion).
In H1/2022, LONGi shipped 17.01 GW of wafers and 18.02 GW of solar modules (see LONGi Shipped 18 GW Solar Modules In H1/2022).