LONGi fast-tracking capacity expansions as sales jump in Q2

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Mono-Si wafer shipments to external customers were 1,259MW in the reporting period. Image: LONGi

‘Silicon Module Super League’ (SMSL) member LONGi Green Energy Technology and the leading fully-integrated high-efficiency monocrystalline module manufacturer, reported first half 2017 revenue slightly down from the prior year period as a result of average selling price (ASP) declines, partially offset by product shipment growth. 

Strong global demand for mono-Si wafers in the first half of 2017 has led to capacity constraints, notably with the largest producer. Key to the demand was the 24.4GW of new solar installations in China in the first half of the year. 

In the first half of 2017 the company said that mono-Si wafer production was 877 million units, or around 2,051MW. Mono-Si wafer shipments volume was 868 million pieces. Ingot and wafer production was running at full-capacity. 

Mono-Si wafer shipments to external customers were 1,259MW in the reporting period and 796MW of shipments for in-house module manufacturer, LONGi Solar. 

LONGi said that mono-Si cell shipments were 2,188MW with mono-Si module shipments of 1,259MW. Total mono c-Si module shipments were 2,340.8MW in 2016.

LONGi said that mono-Si cell shipments were 2,188MW with mono-Si module shipments of 1,259MW. Total mono c-Si module shipments were 2,340.8MW in 2016.

Manufacturing update

To ease capacity constraints, LONGi noted that it was fast-tracking various ingot and wafer expansion plans currently under construction and pulling in projects nearing completion where possible. 

The company also noted that due to technology upgrades and process improvements at a 3GW ingot and wafer expansion project, total nameplate capacity would be 5GW when the project completed construction and tool installation.

LONGi noted that the equipment debugging phase was underway at a 300MW ingot expansion and a 1GW expansion of wafers, which are expected to be in full production in the fourth quarter of 2017.

The company also noted that a 500MW solar cell expansion phase and a 500MW module assembly expansion would also enter production in the fourth quarter of 2017.

LONGi noted that the equipment debugging phase was underway at a 300MW ingot expansion and a 1GW expansion of wafers, which are expected to be in full production in the fourth quarter of 2017.

Financials

LONGi reported an operating income of RMB6,276 million (US$952 million), down 2.3% from the prior year period. 

Having experienced a softening in demand in the first quarter of 2017, sales picked-up strongly in the second quarter as operating income increased by around 44%, quarter-on-quarter.

Net profit attributable to shareholders was RMB1,236 million (US$187.3 million), up 43.6% from the prior year period. Net cash flow from operating activities was US$17.2 million. 

LONGi reported an operating income of RMB6,276 million (US$952 million), down 2.3% from the prior year period.

To continue to develop mono-SI PERC and bifacial cells and modules as well as ongoing ingot and wafer technology developments, LONGi noted that R&D expenditure in the reporting period had reached around US$67.3 million, compared to US$51.6 million the prior year period. 

Mono-SI PERC bifacial cells being ramped.

Read Next

July 29, 2021
Tracker and racking provider Arctech has delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China.
July 23, 2021
China could install up to 65GW of solar this year, driven largely by a surge in demand for distributed solar installations, while average solar deployment could reach 90GW per year in the years leading up to 2025.
July 16, 2021
Finlay Colville, head of market research at PV Tech Research, explores the critical themes behind the solar industry’s transition from p-type to n-type cell production before previewing PV CellTech Online 2021.
July 15, 2021
A round-up of the latest stories from the US solar market, featuring proposals to support long-duration energy storage, patent successes from LONGi and the completion of a microgrid at Pittsburgh International Airport that features 20MW of solar.
July 15, 2021
Legislation that would ban the import of all products from China’s Xinjiang region into the US has taken a critical step forward, passing the US Senate.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK