Longi expects over USD 23bn in 2023 earnings

• China's Longi Green Energy Technology Co Ltd (SHA:601012) today claimed it anticipates to create revenue of over CNY 160 billion (USD 23.2 bn/EUR 20.9 bn) in 2023 after the firm's turn over covered CNY 100 billion for the first time in 2022.

Longi's 2022 revenue was up 60% year-over-year to CNY 129 billion. In the very first quarter of 2023, the firm's revenue showed growth of 52.35%, getting to CNY 28.3 billion.

Longi's net profit in 2022 also climbed dramatically, enhancing by 63% to CNY 14.8 billion.

The firm said that last year it generated 85.06 GW of monocrystalline silicon wafers, with 42.52 GW sold externally as well as 42.54 GW for internal usage, implying it was the leader in worldwide deliveries of monocrystalline silicon wafers for nine years running. Longi likewise created 46.76 GW of monocrystalline silicon modules in 2022, with mostly all sold on the surface, holding the leading rank for worldwide shipments of modules and market share for three successive years.

This year, Longi anticipates to ship 130 GW of wafers as well as 85 GW of modules. At the end of 2022, the business had a production capacity of 133 GW for monocrystalline silicon wafers, 50 GW for cells and 85 GW for modules. It intends to raise its manufacturing capacities to 190 GW, 110 GW and 130 GW, specifically, this year.