LONGi Green Energy Technology (601012.SH) is expected to incur a huge loss of 8.2 billion to 8.8 billion yuan in 2024. BC second-generation technology has made continuous breakthroughs, but the production volume still remains low.

LONGi Green Energy Technology (601012.SH) announced that, according to preliminary calculations by the financial department, it is expected to incur a net loss attributable to the shareholders of the listed company of 8.2 to 8.8 billion yuan in 2024, compared to a profit in the same period the previous year. It is also expected to incur a net loss attributable to the shareholders of the listed company, excluding non-recurring gains and losses, of 8.3 to 8.9 billion yuan in 2024. In 2024, global PV newly installed capacity continued to grow, but the solar industry faced imbalanced supply and demand. In the process of capacity clearance and rapid technological iteration, the company adhered to steady operation, sought development through innovation, and made continuous breakthroughs in BC second-generation technology and forward-looking research and development. The conditions for the scale development of BC technology matured, the advantage production capacity in the United States was smoothly put into operation and became profitable, and the lighthouse factory's advanced manufacturing model was rapidly promoted, with significant effects of customer-centric organizational transformation. During the reporting period, the company's output of BC second-generation products was very low due to intensified industry competition. Prices and gross margins of PERC and TOPCon products continued to decrease, and capacity utilization was limited. Technological iteration led to an increase in asset impairment provision, and losses were incurred from investment income in silicon material enterprises in which the company had shares, resulting in temporary losses in operational performance.