Longi(SH:601012) Zheng Quan Shi Bao Wang·2025-08-03 12:36Core Viewpoint - Longi Green Energy is focusing on enhancing product quality and addressing low-price competition in the photovoltaic industry, while maintaining its annual module shipment target of 80GW to 90GW for 2025 despite market challenges [1][2][3] Group 1: Industry Developments - The Central Financial Commission's sixth meeting emphasized the need to regulate low-price competition in enterprises and promote the exit of outdated production capacity in the photovoltaic sector [1] - The Ministry of Industry and Information Technology held a meeting with photovoltaic manufacturing companies to discuss the same issues of low-price competition and the need for quality improvement [1] - The photovoltaic industry has shown positive changes under policy guidance, with a noticeable recovery in silicon wafer prices from previous lows [1] Group 2: Company Performance and Strategy - Longi Green Energy reported a significant increase in module shipments in Q2 2025, driven by a customer-centric approach and the introduction of high-efficiency products like HPBC2.0 [1][3] - The company maintains its annual module shipment target of 80GW to 90GW, despite concerns about a potential downward revision due to a significant drop in domestic photovoltaic installations in June [1] - Longi Green Energy's HPBC2.0 battery production has reached a stable output of 2GW per month, with a production line yield of approximately 97% [2] Group 3: Market Outlook - The global photovoltaic market demand growth is expected to slow down starting in 2025, influenced by energy policy adjustments and trade barriers in traditional markets like China, Europe, and the U.S. [2] - Emerging markets such as the Middle East, Africa, and India are projected to maintain high growth rates due to energy transition strategies and rigid electricity demand [2] - Longi Green Energy's component factory in Indonesia is expected to remain unaffected by the U.S. anti-dumping investigation against photovoltaic products from Indonesia, as it is set to produce 1.6GW of capacity using HPBC2.0 technology [2] Group 4: Financial Performance - Longi Green Energy anticipates a net loss of 2.4 billion to 2.8 billion yuan for the first half of 2025, which represents a significant reduction in losses compared to the previous year [3] - The company has focused on increasing customer-oriented product and service investments, leading to growth in module sales despite a competitive environment where market prices fell below cost [3] - Internal operational management improvements have led to a rapid decrease in unit costs, selling expenses, management expenses, and asset impairment losses [3]