星期六, 9月 25, 2021
Home PV Companies LONGi profits increase despite ‘moderate’ capacity utilisation rate adjustments in H1

LONGi profits increase despite ‘moderate’ capacity utilisation rate adjustments in H1

While downstream demand remained ‘under pressure’, LONGi reported more favourable conditions in its upstream solar segment.

Source:PVTECH

LONGi Solar recorded a 21% leap in net profit in the first half of the year despite what it described as a “moderate” adjustment to capacity utilisation rates in the wake of market demand.
The ‘Solar Module Super League’ (SMSL) manufacturer reported total module shipments in the first half of the year of 17GW, but said it had adjusted the capacity utilisation rate of its facility and adapted total output in order to meet much-discussed market demand.
As upstream raw material and component pricing – along with shipping and logistic costs – has soared since the start of the year, end market demand has contracted somewhat with many developers reporting project pushbacks in anticipation of normalised pricing. However recent weeks have seen costs increase slightly once more, with demand expected to rebound from September onwards.
Reporting its H1 2021 results today, LONGi said downstream demand remained “under pressure”, causing the SMSL member to respond by adjusting its output.
Demand upstream, however, remained strong, with the sale of solar wafers increasing by 36.5% year-on-year to 38.36GW, around 18.8GW of which was for external clients. Earlier this month LONGi confirmed an increase in the price of its wafers as pricing volatility continued into Q3.
Total group revenues meanwhile rose by 75% year-on-year to RMB35 billion (US$5.4 billion), while total gross margin stood at 22.73%, an increase on that reported in H1 2020.
Overseas sales accounted for almost half of its sales in the first half of the year.
Net profit attributable to shareholders rose by 21% year-on-year to just under RMB5 billion (US$773 million).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

PROJOY is Waiting for you at Global Solar+energy Storage Conference in October

In October, the 8th Global Solar+energy Storage Conference & Expo will be held on October 11-13, 2021 on the beautiful West Tai Lake (Wuxi,...

Solarwatt brings new module and battery factories online in Germany

German solar module and battery manufacturer Solarwatt today inaugurated 300 MW of new module production lines, bringing its total PV module production capacity to...

PV-powered autonomous sea access for people with disabilities

Greek startup Tobea Ltd., a spinoff of the University of Patras, has developed a solar-powered system that provides autonomous sea access for people with...

GreenPowerMonitor expands PV asset management platform with new acquisition

GreenPowerMonitor, a DNV company, has acquired the PV analytics technology platform PEAK from Alteso. PEAK’s special algorithms, including machine learning for exploring big data,...