LONGi’s H1 2026 solar module shipments declined on a YoY basis, but BC module sales grew significantly
Demand from the overseas markets grew, with the Americas and Europe recording strong shipment gains
The company says the industry continues to face weak demand, oversupply and pressure on profits
LONGi Green Energy Technology, one of the world’s largest solar PV manufacturers, reported a sharp fall in module shipments in H1 2026 amid continued industry pressure. At the same time, the company increased the share of back contact (BC) modules in its shipments.
The company says it secured more than 10 GW of BC module awards through domestic utility-scale procurement tenders during the period. It also reported continued growth in commercial and industrial markets and higher orders from overseas markets.
During H1 2026, LONGi’s BC module sales increased 125% year-on-year (YoY) to 19.55 GW, accounting for more than 65% of the company’s total module shipments during the period.
Overall module shipments, however, remained below last year’s level. The solar manufacturer shipped 29.93 GW of modules in H1 2026, down more than 24% from 39.57 GW in H1 2025. Its wafer shipments were 48.91 GW, including 18.98 GW for external sales, down from the previous year’s 52.08 GW and 24.72 GW, respectively. External cell sales during the reporting period stood at 0.86 GW (see LONGi Shipped Around 40 GW Solar Modules In H1 2025).
The company’s overseas business, however, grew during the period, although the increase did not offset the decline in LONGi’s overall module shipments. Its overseas module shipments rose more than 26% YoY, with international markets accounting for more than 65% of total module revenue.
The Americas recorded shipment growth of more than 36%, while Europe grew by more than 34%. Shipments to the Asia-Pacific region increased by more than 20% during the period.
LONGi said mature European markets remained relatively stable, while South Asia, Southeast Asia, and Africa recorded faster growth. It links demand in these emerging markets to power shortages and growing interest in energy security and autonomy.
The manufacturer reported operating revenue of RMB 27.045 billion for the first half of 2026, and a positive gross margin that improved by more than two percentage points from a year earlier. The manufacturer attributes the improvement to the increasing contribution from BC technology and changes in its shipment mix.
The company said profitability remained under pressure, particularly in the first quarter, citing industry-wide oversupply, lower capacity utilization, and higher silver prices that pushed costs up. This led to losses on some utility-scale orders.
At the industry level, ‘demand retracement’ was a key backdrop, management stressed, pointing to a 66% annual drop in new PV installations in China during the period to 72.07 GW (see CPIA: China’s H1 2026 Solar PV Installations Drop 66% YoY).
LONGi highlighted that the PV industry continues to face an unresolved supply-demand imbalance and low margins. It also pointed to a temporary slowdown in end-market demand, the time needed for capacity rationalization in China, and faster localization of overseas manufacturing. The company said the timing of a recovery from the current cycle remains uncertain.
As the solar PV industry continues to navigate the oversupply and profitability challenges, vertically integrated companies like LONGi have ventured into energy storage as an additional revenue generator. LONGi’s energy storage business also grew during H1. The company said its cumulative signed storage orders had exceeded 3 GWh by the end of the period.
