Good Financial Results For LONGi In H1/2022

• LONGi Green Energy Technology is expecting its operating income for H1/2022 to grow to between RMB 50 billion to RMB 51 billion
• Net profit is anticipated to settle between RMB 6.3 billion to RMB 6.6 billion, up 26% to 32% over H1/2021
• The management sees growth in downstream demand as a major factor for the expected improvement in financials for the period

The world's largest integrated solar PV manufacturer LONGi Green Energy Technology, in its preliminary financial results for the period between January 2022 and June 2022, expects to report operating income of between RMB 50 billion to RMB 51 billion.

According to the manufacturer, it would be an annual improvement of between 42% to 45% over H1/2021 when its annual operating income increased over 74% YoY to RMB 35.098 billion (see LONGi Shipped 17 GW+ PV Modules In H1/2021).

While the company does not reveal its estimated shipments for the reporting period, it attributes significant increase in shipment volume as the factor behind the expected higher operating income. In Q1/2022, it shipped 6.44 GW worth of solar modules.

Net profit attributable to shareholders of listed companies is anticipated by the management to land between RMB 6.3 billion to RMB 6.6 billion, likely to have gone up from the previous year by 26% to 32%.

For LONGi, the growth of downstream demand along with 'leading products, efficient operation, practical cooperation, and stable operation', benefitted it despite the 'high price of raw materials and volatile business environment of international trade' during H1/2022, as per its stock exchange announcement.

At the end of 2021, LONGi's wafer, cell and module production capacity stood at 105 GW, 37 GW and 60 GW respectively, which it aims to expand to a total of 150 GW, 60 GW and 85 GW by the end of 2022 (see LONGi Shipped 38.52 GW Solar Modules In 2021).

Recently, LONGi said its 182mm cell based Hi-MO 5 modules have crossed cumulative shipments of 30 GW globally.

LONGI recently presented results about case studies of its bifacial modules in solar power plants with solar trackers at TaiyangNews Bifacial & Solar Trackers conference (see LONGi presentation here).