隆基绿能，往事并不如烟

Core Viewpoint - Longi Green Energy has maintained a market value that surpasses the combined total of its three main competitors, Jinko, Trina, and JA Solar, despite the downturn in the photovoltaic industry, largely due to its substantial cash reserves of 50 billion and advancements in BC technology [1][2]. Group 1: Company Performance and Strategy - Longi Green Energy has initiated significant organizational reforms, including a drastic reduction in workforce from 75,000 to 37,853, marking a 50% decrease, which is unprecedented in the photovoltaic industry [6][7]. - The company has acknowledged past failures, particularly the HPBC generation, and is now focusing on cost control and efficiency improvements to regain its competitive edge [9][10]. - Longi's marketing strategy for BC technology has involved a substantial investment of 7.82 billion in promotional expenses, which is 80% higher than the previous year and significantly more than its competitors [30][20]. Group 2: Market Position and Competitiveness - Longi's market share has been eroded due to aggressive competition and strategic missteps, leading to a decline in its dominance in the silicon wafer market [19][20]. - The company has faced challenges in maintaining its leadership position, with its technology lagging behind competitors in certain areas, particularly in BC and TOPCon technologies [38][39]. - Despite setbacks, Longi's financial stability, bolstered by its cash reserves, positions it to endure market fluctuations and invest in future technologies [20][40]. Group 3: Future Outlook - Longi is at a crossroads, needing to balance aggressive technological advancements with prudent financial management to avoid repeating past mistakes [40][41]. - The company is encouraged to explore new avenues such as energy storage and innovative power systems while leveraging its historical cost advantages in the solar supply chain [40].