The world-leading solar technology company LONGi Green Energy Technology Co., Ltd. (hereafter as LONGi), is pleased to announce the achievement of a significant milestone by ranking 178th on the prestigious 2024 Fortune China 500 list. Since its first inclusion in the Fortune China 500 in the year of 2017, LONGi has remained on the list for eight consecutive years. This recognition underscores the company's unwavering commitment to innovation, sustainability, and excellence in the renewable energy sector.
In 2023, LONGi achieved a revenue of 129.498 billion yuan, continuing to maintain a scale of a hundred billion in revenue. The net profit attributable to shareholders of the listed company for the whole year was 10.751 billion yuan, of which the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 10.834 billion yuan.
During the reporting period, LONGi achieved shipments of 125.42 GW of monocrystalline silicon wafers (of which 53.79 GW were sold externally), external sales of 5.90 GW of monocrystalline cells, and shipments of 67.52 GW of monocrystalline modules (of which 66.44 GW were sold externally).
By the end of 2023, LONGi had accumulated R&D investment of more than 27 billion yuan, and had obtained 2879 patents of various types. The R&D investment for the whole year of 2023 was 7.721 billion yuan, accounting for 5.96 percent of the revenue.
From 2021 to 2023, the asset-liability ratios of LONGi were 51.31 percent, 55.39 percent, and 56.87 percent, respectively. With its strong manufacturing capabilities and financial health, the company has received the highest bankability rating recognized by the authoritative PV ModuleTech for several consecutive years. The financial health index has continued to lead the industry, demonstrating a strong ability to respond to industry risks.
By 2024, the entire PV industry is poised to undergo a period of rapid consolidation, with the competitive edge resting on a company's ability to operate globally. This encompasses a range of critical functions, such as marketing strategies, technological innovation, financial acumen, operational efficiency, and the creativity of their business models. As the landscape of competition sharpens, companies will experience a quicker divergence in their standings.
Li Zhenguo, Founder and President of LONGi, commented: “I am so proud that, through LONGi's promotion and leadership, the conversion efficiency of photovoltaic power generation has continuously achieved new breakthroughs over the past decade. This has made it an important supportive force for the realization of our carbon neutrality goals and energy transition.”
In the future, LONGi will continue to adhere to the business principles of “Leading Products, Efficient Operations, Pragmatic Collaboration, and Stable Management.” By maintaining continuous and high-intensity investment in R&D, the company will provide end-users with more valuable photovoltaic products, driving the global energy supply towards being cleaner, more economical, and more stable.
About LONGiFounded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of 'making the best of solar energy to build a green world', LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com
