Longi(SH:601012) Chang Jiang Shang Bao·2025-08-25 03:51Core Viewpoint - The photovoltaic industry is facing significant challenges, but Longi Green Energy has demonstrated resilience by substantially reducing its losses in the first half of 2025 [2][3]. Financial Performance - In the first half of 2025, Longi Green Energy reported revenue of approximately 32.8 billion yuan, a year-on-year decline of 15% [2][3]. - The company recorded a net loss attributable to shareholders of 2.569 billion yuan, which is a reduction in losses by 2.661 billion yuan compared to the same period last year [2][3]. - The first half of 2025 saw a shipment of 52.08 GW of silicon wafers and 41.85 GW of battery modules [2][4]. Cost Management - The significant reduction in losses was primarily due to a decrease in sales and management expenses, as well as a substantial reduction in asset impairment losses [5][6]. - Sales expenses and management expenses for the first half of 2025 were 839 million yuan and 1.343 billion yuan, respectively, showing a decrease of 490 million yuan and 395 million yuan year-on-year [5][6]. Market Environment - The photovoltaic industry is transitioning from explosive growth to a more stable development phase, with competition shifting from homogeneous price competition to differentiated value competition [6][7]. - Longi Green Energy aims to become the most valuable solar technology company globally, focusing on technological innovation and a comprehensive range of solar solutions [6][8]. Product Development - Longi Green Energy has successfully implemented its BC strategy, focusing on HPBC 2.0 technology products and deep scenario solutions to enhance its competitive edge [7][8]. - The company has achieved a module conversion efficiency of 24.8% for its HPBC 2.0 products, with significant market penetration across over 70 countries and regions [8].