Longi solar panel

Longi solar panel:

• October 22, 2019: Ranked 43rd on the “2019 Global New Energy Enterprises Top 500” list.
• May 2022: Ranked 724th on the Forbes 2022 Global 2000 list.
• August 2022: CEO Li Zhenguo once again selected as one of Forbes China’s Best CEOs.
• August 2022: Ranked 417th on the “2022 World’s Top 500 Brands” list.
• September 2022: Ranked 59th on the “2022 China Top 500 Manufacturing Private Enterprises” list.
• December 2022: Ranked 253rd on the 2022 Hurun Global 500 list.
• January 2023: Ranked 15th on the 2022 Hurun China 500 list.
• July 2023: Ranked 108th on the 2023 Fortune China Top 500 listed companies list.
• July 2023: Ranked 177th on the 2023 Fortune China 500 list.
• December 2023: Included in the latest batch of “Lighthouse Factories” list by the World Economic Forum (WEF).

CEO of Longi

Li Zhenguo, an alumnus of Xi’an Jiaotong University with a Master’s degree in Business Administration from the class of 2001, ranked 168th on the 2022 Hurun Global Rich List with a fortune of 82 billion yuan. Additionally, he ranked 142nd on the 2022 Forbes Global Billionaires List with a fortune of 12.9 billion US dollars.

Li Zhenguo was born in Henan, the son of a geologist and the only college student in their village at that time. Later, his family moved to Xining, the capital of Qinghai Province, which is rich in mineral resources. They obtained urban household registration, leading to better education and medical services.

After graduating from university, Li Zhenguo was assigned to a state-owned enterprise in Xi’an, where he worked in the production of monocrystalline silicon. Ten years of deep involvement in monocrystalline silicon further extended his interest from monocrystalline silicon to the entire photovoltaic field, and he firmly believed in the potential of this market. In 2000, Li Zhenguo founded Xi’an Xinnuo Electronic Technology Co., Ltd., the predecessor of LONGi Green Energy Technology Co., Ltd.

Now, more than 20 years later, LONGi Green Energy has become a global leader in solar technology. With the mission of “Harnessing the Power of the Sun to Create a Green Energy World” and the brand image of “Steady, Reliable, and Technology-led,” LONGi focuses on technological innovation and has built five major business segments: monocrystalline silicon wafers, solar modules, commercial and industrial distributed solutions, green energy solutions, and hydrogen energy equipment.

It has developed “green electricity” and “green hydrogen” products and solutions to support global zero-carbon development. In March alone, LONGi broke two world records for solar cell conversion efficiency within a week, marking another technological breakthrough after breaking seven world records in 2021.

The company maintains high levels of investment in research and development, focusing on future technological development. Through technological leadership, product leadership, and cost leadership, LONGi enhances its core competitiveness, helping the industry reduce costs and increase efficiency.

About Longi module Company

LONGi Green Energy Technology Co., Ltd is committed to becoming the world’s most valuable solar technology company. With the mission of “Harnessing the Power of the Sun to Create a Green Energy World” and the brand positioning of “Steady, Reliable, and Technology-led,” LONGi focuses on technological innovation.

It has built five major business segments: monocrystalline silicon wafers, solar modules, commercial and industrial distributed solutions, green energy solutions, and hydrogen energy equipment. LONGi has developed “green electricity” and “green hydrogen” products and solutions to support global zero-carbon development.

LONGi Green Energy has established multiple production bases in countries and regions such as China, Vietnam, and Malaysia. It has branches in countries such as the United States, Japan, Germany, India, Australia, the United Arab Emirates, and Thailand, with business operations covering more than 150 countries and regions worldwide.

LONGi Green Energy has joined initiatives like RE100, EP100, and EV100, set science-based carbon targets (SBTi), and continuously promotes green sustainable development to contribute to the global energy revolution and the construction of a “zero-carbon” and “green” Earth.

Under severe imbalance between supply and demand, the prices of photovoltaic products experienced a rapid decline in 2023, particularly since the fourth quarter of 2023, where bidding prices for components repeatedly hit new lows, with component prices dropping to below 1 yuan per watt.

According to InfoLink data, in 2023, the prices of polysilicon materials dropped by about 70%, silicon wafer prices dropped by about 60%, and component prices dropped by about 50%. This disorderly and low-price competition significantly damaged the profitability level of companies.

As a result of this impact, in 2023, LONGi Green Energy conducted impairment tests on assets showing signs of impairment, intending to provision impairment reserves of 7 billion yuan. This mainly includes a provision for inventory depreciation of 5.2 billion yuan and a provision for fixed asset impairment of 1.6 billion yuan, etc. In the first quarter of 2024, the company achieved operating income of 17.674 billion yuan.