{"id":56864,"date":"2021-09-03T09:05:12","date_gmt":"2021-09-03T09:05:12","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=78253"},"modified":"2021-09-03T09:05:12","modified_gmt":"2021-09-03T09:05:12","slug":"longi-announces-2021-interim-results","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/longi-announces-2021-interim-results\/","title":{"rendered":"LONGi Announces 2021 Interim Results"},"content":{"rendered":"
<\/b>The company maintains technology leadership with R&D investments totaling 1.614 billion yuan and setting of new world records with its latest cell technologies<\/p>\n<\/div>\n XI’AN, China, Sept. 3, 2021 \/PRNewswire\/ —\u00a0On August 31, LONGi announced its financial results for the first half of 2021. Revenue rose to 35.098 billion yuan, an increase of 74.26% compared to the same period of last year. Net profit attributed to shareholders reached 4.993 billion yuan, up 21.30% over the prior-year period. The company maintained stable operations with a debt to assets ratio of 55.18%, a decrease of 4.20 percentage points compared to the end of 2020. As of the end of the reporting period, LONGi’s professional R&D team had grown to more than 1,000 and had, to date, obtained 1,196 patents. Investment in R&D increased to 1.614 billion yuan, accounting for 4.60% of the revenue during the reporting period.<\/p>\n Despite various challenges, LONGi shipped 38.36GW of monocrystalline silicon wafers during the period, including 18.76GW in exports, a year-on-year increase of 36.48%. Shipments of monocrystalline modules stood at 17.01GW, with exports reaching 16.60GW, an increase of 152.40%. The proportion of revenue from modules increased to 67%, as compared to 57% in the prior corresponding period.<\/p>\n The photovoltaic industry, characterized by high R&D investments and fast technology iterations, has high requirements for cost control and technological innovation. Since the launch of the first-generation Hi-MO module in 2016, LONGi has constantly updated the series, with the aim of driving steady growth in sales through leading technologies. Today, LONGi’s Hi-MO series of modules have been sold worldwide, creating value for its customers and lifting the company to the leading position worldwide in terms of module shipments.<\/p>\n LONGi has been successful in the development of potential PV technologies such as TOPCon and HJT. In early June 2021, the company announced that the R&D conversion efficiency of its N-type TOPCon and HJT cells had reached 25.21% and 25.26%, respectively, while that of the newly announced P-type TOPCon cells topped out at 25.19%, setting a new round of world records. Among them, the efficiency records of N-type TOPCon and HJT cells were included in the\u00a0Solar Cell Efficiency Tables<\/i>\u00a0(Version 58) compiled by Martin Green, Scientia Professor at the University of New South Wales in Sydney, Australia.<\/p>\n LONGi’s growth was driven by its accurate strategic research and judgment, forward-looking industrial portfolio and continuous investment in R&D. In March 2021, LONGi formally entered the hydrogen energy sector. Leveraging its own prowess in R&D, the company established laboratories in cooperation with several leading universities to ensure its leadership in technology. This year, LONGi also entered into a strategic partnership with CENTER to jointly develop the BIPV business in large-scale public and industrial buildings, expanding the application scenarios of PV products and promoting the applications of BIPV at scale.<\/p>\n In 2021, LONGi continued the push ahead with its service optimization initiatives including the Brand Quality Year, strengthening its commitment to a 25-year product warranty. The company, together with several industry players, has proposed the standardization of M10 silicon wafers and modules and issued the\u00a0182 Module Products<\/i>\u00a0white paper. The company announced the LONGi Lifecycle Standard, an industry first, actively taking a leadership role in the development of an industry that is, first and foremost, standards-based and quality-focused.<\/p>\n Photo –\u00a0https:\/\/mma.prnewswire.com\/