LONGi Shipped 18 GW Solar Modules In H1/2022

H1/2022 Profit Improved As LONGi’s Monocrystalline Silicon Wafer Shipments Added Up To Nearly 40 GW

LONGi Shipped 18 GW Solar Modules In H1/2022

Caption: During H1/2022, LONGi’s shipments improved on annual basis as did its operating income and net profit. The numbers shared here include 20.15 GW wafers and 17.70 GW modules sold externally.

  • LONGi’s H1/2022 solar module shipments improved from 17.01 GW last year to 18.02 GW
  • Its monocrystalline silicon wafer shipments rose to 39.62 GW out of which 20.15 GW were sold externally
  • US government’s anti-circumvention investigation and UFLPA increased its warehousing charges, but the management it shifted focus to other markets as Europe in a timely manner

Vertically integrated solar PV manufacturer from China, LONGi Green Energy Technology improved operating income, net profits and its total solar module shipments in H1/2022 to 18.02 GW, up from 17.01 GW during the same period in 2021, however admits to some impact from US trade policies and investigations.

Of the 18.02 GW module shipments, 17.70 GW was sold externally including 87.35 MW sales of building integrated PV (BIPV) modules, and 320 MW for own use. The world’s largest solar wafer manufacturer, LONGi shipped 39.62 GW monocrystalline silicon wafers in H1/2022 with 20.15 GW sold externally and 19.47 GW for self-use.

Its total operating income during the reporting period was RMB 50.4 billion having gone up 43.64% annually, while net profit rose 29.79% to RMB 6.48 billion, settling at the same levels as shared by the company on a preliminary basis (see Good Financial Results For LONGi In H1/2022).

High polysilicon prices and fluctuation in downstream demand affected the business as well.

In a stock exchange announcement to share the results, LONGi blamed the anti-circumvention investigation in the US, which finally ended happily for all manufacturers shipping to the country from Southeast Asia, and the impact of Uyghur Forced Labor Prevention Act (UFLPA) as reasons for its Hong Kong warehousing costs increasing and reaching RMB 465 million.

The management explained, “It was disturbing to come extent, but the company adjusted its business strategy in a timely manner and shifted its sales focus to other important markets such as Europe.”

Pointing at the current trend of long term solar module supply contracts, LONGi reflected on global supply chain disruption that can make it difficult for a company to fulfil its commitments especially since prices and logistics efficiency cannot be guaranteed. In addition, some supply chain companies have had to shut shop due to the impact of COVID-19 pandemic.

“Logistics has been greatly restricted, and logistics and procurement costs have risen sharply, which has increased management difficulties for production organization and product transportation,” explained LONGi. “Therefore, if a company cannot establish a competitive supply chain management capability, it may face the risk of supply chain volatility.”

The Chinese manufacturer has not shared any updates regarding its annual production capacity that was reported at the end of 2021 as 105 GW for wafers, 37 GW cells and 60 GW modules. By the end of 2022, it has plans to increase the same to 150 GW, 60 GW and 85 GW respectively (see LONGi Shipped 38.52 GW Solar Modules In 2021).

Recently, the company updated its 20 GW monocrystalline silicon wafer capacity addition plans to 46 GW in Inner Mongolia’s Ordos (see LONGi Expanding Ingot & Wafer Capacity By 26 GW).

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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