LONGi Green Energy is the world's largest manufacturer of monocrystalline silicon photovoltaic products, focusing on the extension of the monocrystalline silicon and polycrystalline silicon industry chain, and its main products include solar silicon rods, silicon wafers, modules and power stations. Through the era of semiconductors, silicon wafers, solar energy technology, and photovoltaic + hydrogen energy, LONGi Green Energy has continued to innovate and develop.
In addition, it is worth mentioning that LONGi Green Energy set a new record for the highest efficiency of silicon-based solar cells in the world in 2022, with 26The 81% battery efficiency is currently the highest in the world, regardless of the technical route.
2. Investment value analysis.
In terms of investment value, first of all, LONGi Green Energy has a price-to-earnings ratio of 998 times, compared to 15 in the CATL era67 times, which appears relatively low. Second, while the market is valuing companies below average, they could be worth more when you factor in the likely profit growth in 2024. In addition, LONGi was the first to replace the traditional mortar cutting technology with diamond wire cutting technology, and promoted the localization of cutting equipment and diamond cutting wire, which led to a rapid reduction in slicing costs and an increase in production efficiency.
In general, as the world's leading photovoltaic manufacturer, LONGi Green Energy has a good industry position and development potential. Its low price-to-earnings ratio and future growth expectations make it an attractive investment. However, when making investment decisions, investors also need to consider various factors such as market environment, company performance and their own risk tolerance.
3. 2022 financial report.
However, with the rapid expansion of new production capacity in all links of the industrial chain and the continuous decline of the industrial chain, the competition in the photovoltaic industry is intensifying. Despite the fierce competition in the market, LONGi Green Energy has maintained good profitability and growth.
Overall, LONGi Green Energy's financial position is stable, its performance continues to grow, and it shows strong market competitiveness and development potential. When making investment decisions, investors need to consider their own investment objectives, risk tolerance and market environment and other factors.
4. Third quarterly report for 2023.
In addition, LONGi's monocrystalline module shipments in the first three quarters of 2023 reached 4353GW, of which module shipments were 1689gw。However, due to the fierce competition in the photovoltaic industry, the harsh market environment, and the fierce battle, the inventory backlog problem of LONGi Green Energy has also begun to appear.
In response to this situation, LONGi Green Energy has begun to adjust its strategy, reduce the speed of production expansion, and instead accelerate the pace of industrialization of new technologies. Liu Yuxi, President of LONGi Green Energy China, has publicly stated that the decline in modules this year has exceeded the company's earliest expectations, which can almost be called "panic", and said that if the module ** falls below 1 yuan, it means that the cost is really below. He also pointed out that there are undesirable phenomena such as false power standards, silicon wafers, adhesive films, and frame thinning in the current war, which have a negative impact on the industry as a whole.
In general, although LONGi Green Energy has maintained stable operation and good profitability in the first three quarters of 2023, the company's future development still faces certain challenges due to factors such as the market environment and industry competitive pressure. When making investment decisions, investors need to consider their own investment objectives, risk tolerance and market environment and other factors.
Fifth, development potential.
From the perspective of industry attributes, LONGi Green Energy, as a global photovoltaic leader, has seen a significant increase in revenue and net profit in the past two years. In the future, with the increase in global demand for renewable energy and the promotion of environmental protection policies, the market space of the photovoltaic industry is huge. At the same time, LONGi Green Energy is also actively deploying in the field of hydrogen energy to meet the diversified product and solution needs of customers.
However, the development of LONGi Green Energy also faces some challenges. For example, the current photovoltaic industry is highly competitive, the market environment is harsh, and the first battle is fierce, which may have an impact on the profitability of the company. In addition, although LONGi Green Energy has begun to adjust its strategy and reduce the pace of expansion, the company still needs to face these challenges in its future development.
In general, as the world's leading photovoltaic manufacturer, LONGi Green Energy has a good industry position and development potential. Its in-depth layout in the field of photovoltaic manufacturing and hydrogen energy gives it a great competitive advantage in the future market. When making investment decisions, investors need to consider their own investment objectives, risk tolerance and market environment and other factors.
6. Cutting-edge technology.
1.HJT High-Efficiency Battery Innovation Technology: LONGi Green Energy's "HJT High-Efficiency Battery Innovation Technology" won the 2022 "Zero Carbon China" Top 10 Innovative Technology Awards issued by the Energy Investment Committee of the China Investment Association.
2.Robust and reliable corporate values and open cooperation ecosystem: LONGi Green Energy's technological innovation follows "first principles" and has always been positioned as the main channel for improving efficiencyAdhere to customer first, create value for customers, and provide customers with product reliability guarantee with leading standards, reliable quality and excellent product experienceUphold an open mind, continue to invest in scientific and technological research and development, create an open cooperation ecosystem, and empower peers.
3.Strong R&D investment: LONGi Green Energy dares to climb the peak of the industry, which is mainly due to its awe of cutting-edge technology. According to the financial report, in the first three quarters of 2022, LONGi Green Energy's R&D expenses were 77.8 billion yuan, a year-on-year increase of 2760%。
4.High-efficiency tandem cells: According to the authoritative certification report of the Fraunhofer Institute for Solar Energy Systems in Germany, LONGi Green Energy has achieved crystalline silicon-perovskite tandem cells on commercial-grade suede CZ silicon wafers31The conversion efficiency of 8% is also the highest internationally certified conversion efficiency obtained based on the superposition of perovskites on commercial CZ silicon wafers.
In general, LONGi Green Energy has successfully developed a series of cutting-edge technologies through continuous technological innovation and R&D investment, and in this way, it is driving the global energy revolution.