LONGi Green Energy's latest financial report: net profit loss of 2.35 billion, but shipments showed strong growth

The financial report for the first quarter of 2024 shows that on April 30, LONGi Green Energy, a leader in the photovoltaic industry, recently announced its financial report for the first quarter of 2024, revealing the company’s performance in a complex and changing market environment. latest performance.

According to the report, LONGi Green Energy achieved operating income of 17.674 billion yuan this quarter. Compared with the same period last year, this number dropped by 37.59%, reflecting the current competitive pressure in the photovoltaic market and the challenges of industry adjustment. What is even more striking is that the company's net profit in this quarter reached a loss of 2.35 billion yuan, which was in sharp contrast to the net profit of 3.637 billion yuan in the same period last year.

In view of changes in the market environment, the company's inventory and other assets have been impaired. This loss is mainly affected by many factors. The price decline of components and silicon wafers during the reporting period had a direct impact on the company's revenue. At the same time, the investment income of associates also declined, further compressing the company's profit margins. In addition, due to changes in the market environment, the company's inventory and other assets have been impaired, which undoubtedly puts additional pressure on the financial situation.

Although the financial report figures show certain operating pressure, the company has been able to show positive growth in product shipments. As of the first quarter of 2024, the company has achieved silicon wafer shipments of 26.74GW, of which external sales reached 12.43GW, a year-on-year increase of 12.26%. At the same time, external sales of batteries also reached 1.51GW. In terms of components, shipments achieved a year-on-year growth of 16.55%, totaling 12.89GW, of which external sales were 12.84GW.

Although Longi Green Energy’s financial report reflects the current market environment and operating challenges, the company’s steady growth in shipments also shows that its products are still quite competitive in the market. Facing the future, LONGi Green Energy needs to further optimize its cost structure and improve product quality and service levels to adapt to the changing market and achieve more stable and sustainable development. At the same time, companies also need to pay close attention to industry dynamics and technological development trends, and respond to increasingly fierce market competition with continuous innovation and upgrading.

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