LONGi plots solar wafer, cell and also module capacity leap as Q1 revenue jumps 17%.

May 9, 2022 12:54 PM ET
  • Leading solar manufacturer LONGi has actually disclosed it expects to finish 2022 with solar wafer, cell and also module production capacity of 150GW, 60GW and also 85GW respectively.
LONGi plots solar wafer, cell and also module capacity leap as Q1 revenue jumps 17%.
Image: LONGi Solar

The development, revealed along with solar module shipment assistance for the year of 50-- 60GW, would certainly see its manufacturing capacities soar by between 40-- 60% year-on-year, while team revenue is additionally anticipated to soar by more than 23% as well as surpass RMB100 billion for the very first time.

LONGi also expects to ship 90-- 100GW of solar wafers in 2022.

Reporting its Q1 2022 results earlier this week, LONGi claimed it shipped 18.36 GW of wafers, divided around 55:45 in between inner (9.94 GW) as well as external (8.42 GW) shipments.

Module shipments for the quarter at the same time stood at 6.44 GW. Using comparison, JinkoSolar last week validated its Q1 2022 module shipments to have stood at just over 8GW, however Jinko is forecasting to ship far fewer modules throughout the year, its 2022 projection presently standing at around 35-- 40GW consisting of shipments of cells and also wafers.

Quarterly revenue climbed 17.3% year-on-year to RMB18.6 billion, reflecting greater shipments and also prices for both modules as well as wafers, LONGi having elevated prices for its wafers no fewer than five times in the reporting duration as well as 7 times since the begin of the year.

LONGi additionally specified that its brand-new cell technology is planned to enter production in Q3 this year, the business noting that it spent some RMB4.4 billion into R&D last year, equal to around 5.4% of its overall revenue.

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