Group 1 - Longi Green Energy is the only one among the top four global component manufacturers that has not yet entered the energy storage business [1] - Recently, Longi Green Energy has acquired a stake in Suzhou Jingkong Energy Technology Co., Ltd., a storage company [1] - Longi Green Energy is also in discussions to potentially acquire another energy storage company, with negotiations still ongoing [1]

钟宝申解释称，预计四季度公司主营业务实现扭亏为盈的结论，主要通过公司组件产品毛利提高的路径 实现。 他进一步说，6月份后，公司BC产能逐渐提高，在销售占比中，BC产品每季度都有显著的占比提高， 因此平均毛利水平相应得到提升。除了提高毛利，公司持续降低费用，目前降费已经进入平稳阶段。 该公司财报也分析称，同比减亏26.61亿元，主要受益于运营提效促进销售费用、管理费用大幅下降， 以及资产减值损失的大幅减少。今年上半年，该公司销售费用和管理费用分别同比下降37%和23%。 毛利，成为千亿市值光伏龙头企业隆基绿能（601012.SH）2025年半年度业绩说明会上的绝对高频词。 在短短一小时的机构交流环节中，被公司董事长钟宝申提及近30次。 2025年上半年，隆基绿能公司实现营业收入328.13亿元；净亏损25.69亿元，相较上年同期52.31亿元的 亏损额大幅减亏。 在今日业绩说明会的投资者问答环节，钟宝申首先更新了主营业务扭亏为盈的预期。他说，年初的投资 者交流会上，公司曾提到目标在今年三季度或四季度实现主营业务毛利和费用的平衡。"目前看，预计 三季度无法打平，但公司对今年四季度主营业务实现盈亏平衡的目标充满信心 ...

Core Viewpoint - Longi Green Energy, a leading photovoltaic company, is beginning to expand into the energy storage sector by investing in Suzhou Jingkong Energy Technology Co., Ltd. and considering further acquisitions [1][5][8] Company Developments - Longi Green Energy has reportedly taken a stake in Suzhou Jingkong Energy, a company recognized for its innovative energy storage solutions and has been listed as a Tier 1 energy storage manufacturer by Bloomberg New Energy Finance [5][6] - The company is currently evaluating its energy storage business, but no definitive decisions have been made yet [2][14] Market Context - Longi Green Energy is the only major player among the top four global module manufacturers without an established energy storage business, while competitors like JinkoSolar and Trina Solar have been actively developing their energy storage segments [7][9] - The energy storage market is becoming increasingly competitive, with prices for projects hitting record lows, posing challenges for new entrants like Longi Green Energy [15] Financial Performance - Longi Green Energy has faced significant financial losses, reporting a net loss of 8.618 billion yuan in 2024 and a further loss of 1.436 billion yuan in Q1 of the same year [8] - Despite these losses, the company has shown some improvement, reducing its losses by 2.661 billion yuan in the first half of the year compared to the same period in 2024 [8] Strategic Focus - While Longi Green Energy is exploring energy storage, it has primarily focused on hydrogen energy development, which has not yet achieved commercial viability [11][14] - The company aims to integrate energy storage with its existing photovoltaic solutions, emphasizing the trend of "solar plus storage" [10][12]

该公司财报也分析称，同比减亏26.61亿元，主要受益于运营提效促进销售费用、管理费用大幅下降， 以及资产减值损失的大幅减少。今年上半年，该公司销售费用和管理费用分别同比下降37%和23%。 "BC产品月产量2.5GW左右，接下去会逐月提升。"钟宝申表示，目前BC技术的降本节奏符合公司预 期。相较于成本，公司更关心产品的毛利表现，比如BC组件的毛利较TOPCon组件高多少。 光伏产业的核心竞争逻辑除了"降本"，还在于"增效"。据第一财经记者此前了解，在电池组件方面，公 司通过激光图形化、复合钝化、0BB等技术的量产应用带动产品降本提效。 隆基绿能董事长钟宝申表示，目前BC技术的降本节奏符合公司预期，重点关注BC产品的毛利表现。 毛利，成为千亿市值光伏龙头企业隆基绿能（601012.SH）2025年半年度业绩说明会上的绝对高频词。 在短短一小时的机构交流环节中，被公司董事长钟宝申提及近30次。 2025年上半年，隆基绿能公司实现营业收入328.13亿元；净亏损25.69亿元，相较上年同期52.31亿元的 亏损额大幅减亏。 在今日业绩说明会的投资者问答环节，钟宝申首先更新了主营业务扭亏为盈的预期。他说，年初的投资 ...

Core Viewpoint - Sichuan Yingfa Ruineng Technology Co., Ltd. is positioning itself as a specialized manufacturer of solar cells, focusing solely on producing high-quality battery cells amidst a generally integrated industry model [1][6]. Company Overview - Founded in 2016 by Zhang Fayü, Yingfa Ruineng has become the third-largest solar cell supplier globally, despite experiencing performance fluctuations due to a downturn in the industry [1][3]. - The company has undergone significant changes, including a name change in 2025 and a relocation of its headquarters to Yibin, Sichuan [3]. Financial Performance - In the first four months of 2025, Yingfa Ruineng reported revenues of 2.408 billion yuan and a net profit of 355 million yuan [5]. - The company faced a revenue drop to 4.359 billion yuan in 2024, with losses exceeding 800 million yuan due to significant price declines in the solar industry [5]. Market Position and Strategy - Yingfa Ruineng has shifted its focus to N-type TOPCon battery technology, which has rapidly gained market share, positioning the company to potentially lead the industry by 2024 [5][6]. - The company plans to use 60% of the funds raised from its upcoming IPO for the construction and upgrade of its manufacturing base in Indonesia, aimed at serving Southeast Asia, the Middle East, and Western markets [6]. Client Relationships - Yingfa Ruineng's largest client is Longi Green Energy, contributing significant revenue percentages over the years, with a deepening partnership established in 2024 [7][9]. - The company has seen a shift in its client base, with JinkoSolar dropping out of the top five clients, indicating a concentration of revenue from a few key customers [10]. Future Outlook - The company's future performance is closely tied to the purchasing demands of major integrated solar firms, as it aims to navigate the competitive landscape as a specialized battery supplier [7][10].

隆基绿能董事长钟宝申在业绩会上表示，目前公司在降费用层面已进入到了一个平稳的阶段，能降的幅 度有限，主要是通过BC产品提高毛利。 ...

Company Overview - Longi Green Energy Technology Co., Ltd. is located in Xi'an Economic and Technological Development Zone, established on February 14, 2000, and listed on April 11, 2012. The company specializes in the research, production, and sales of monocrystalline silicon rods, wafers, cells, and modules, providing products and system solutions for photovoltaic ground power plants and distributed rooftop (including BIPV) development, and actively developing photovoltaic hydrogen production business [1]. Financial Performance - For the first half of 2025, Longi Green Energy reported operating revenue of 32.813 billion yuan, a year-on-year decrease of 14.83%. The net profit attributable to shareholders was -2.569 billion yuan, an increase of 51.00% year-on-year [2]. - Cumulative cash dividends since the A-share listing amount to 9.271 billion yuan, with 4.320 billion yuan distributed in the last three years [3]. Stock Performance - As of September 1, Longi Green Energy's stock price decreased by 2.04%, trading at 16.82 yuan per share, with a total market capitalization of 127.463 billion yuan. The stock has increased by 7.07% year-to-date, with a 0.30% increase over the last five trading days, 6.59% over the last 20 days, and 16.16% over the last 60 days [1]. - The stock experienced a net outflow of 268 million yuan in principal funds, with large orders showing a buy of 324 million yuan and a sell of 370 million yuan [1]. Shareholder Structure - As of July 31, the number of Longi Green Energy shareholders was 714,200, a decrease of 3.75% from the previous period. The average circulating shares per person increased by 3.90% to 10,609 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 426 million shares, a decrease of 5.9901 million shares from the previous period. Other notable shareholders include Huaxia SSE 50 ETF and Huatai-PineBridge CSI 300 ETF, which increased their holdings [3].

太阳能板块近一年市场表现 资料来源：最闻 | 首选股票 | | 评级 | | --- | --- | --- | | 600732.SH | 爱旭股份 | 买入-B | | 601012.SH | 隆基绿能 | 买入-B | | 688303.SH | 大全能源 | 买入-B | | 601865.SH | 福莱特 | 买入-A | | 002056.SZ | 横店东磁 | 买入-A | | 300274.SZ | 阳光电源 | 买入-A | | 688472.SH | 阿特斯 | 买入-A | | 605117.SH | 德业股份 | 买入-A | | 300682.SZ | 朗新集团 | 买入-B | | 603688.SH | 石英股份 | 买入-A | 太阳能 202508 光伏行业月度报告 同步大市-A(维持) 7 月光伏新增装机同比下降 47.6%，逆变器出口额同比维持增长 2025 年 9 月 1 日 行业研究/行业月度报告 投资要点： 国内光伏新增装机：根据国家能源局数据，2025 年 7 月国内光伏新增装 机 11.0GW，同比-47.6%，环比-23.1%。国内 1-7 月累积新增光伏装机 ...

Group 1 - Longling Zhongcarbon Clean Energy Co., Ltd. has been established, with Liu Yu as the legal representative [1] - The company's business scope includes solar power generation technology services, wind power generation technology services, emerging energy technology research and development, and engineering management services [1] - The company is jointly owned by Huaneng New Energy Co., Ltd. and Xi'an Longi Clean Energy Co., Ltd., a wholly-owned subsidiary of Longi Green Energy [1]

2025年半年度报告披露已经收官。对于光伏行业来讲，尽管大部分企业仍处于亏损状态，但回暖信号已 在半年报中隐现。 爱旭股份半年报显示，报告期内，公司N型ABC业务产销两旺，在行业底部周期保持强劲增长，ABC组 件出货量达到8.57GW，同比增长超400%。 "公司的BC技术不仅实现了差异化突围，更在全球范围内树立了'高效、美观、可靠'的形象。"隆基绿能 相关负责人表示。 "从整体情况来看，光伏企业上半年整体业绩有喜有忧，一些在技术、渠道、资金等方面具有优势的头 部企业的业绩开始逐步修复，但行业分化情况也越发明显，二三线企业的经营持续承压。"万联证券股 份有限公司投资顾问屈放在接受《证券日报》记者采访时表示，行业的深度调整仍在持续，下半年行业 整体的盈利有望进一步修复，在技术创新等方面具有竞争优势的企业有望率先穿越周期。 回暖信号隐现 上半年光伏行业虽然仍整体承压，但部分在成本、技术等方面具有优势的企业已出现盈利修复的信号， 开始减亏或盈利。 从隆基绿能的半年报来看，隆基绿能今年上半年归属于上市公司股东的净利润为亏损25.69亿元，去年 同期为亏损52.31亿元，减亏幅度同比超过50%。其中，今年第二季度归属于 ...