Longi(SH:601012) Di Yi Cai Jing·2025-09-01 12:18Core Viewpoint - The company, Longi Green Energy, aims to achieve profitability in its main business by the fourth quarter of 2025, driven by improved gross margins from its BC product line and reduced operational costs [2][3]. Financial Performance - In the first half of 2025, Longi Green Energy reported revenue of 32.813 billion yuan and a net loss of 2.569 billion yuan, significantly reducing losses compared to 5.231 billion yuan in the same period last year [2]. - The company experienced a year-on-year reduction in losses by 2.661 billion yuan, primarily due to enhanced operational efficiency leading to a substantial decrease in sales and management expenses, which fell by 37% and 23% respectively [3]. Product Development and Efficiency - The company is focusing on increasing the production capacity of its BC products, with a monthly output of approximately 2.5 GW, and plans to enhance this output gradually [3]. - Longi Green Energy's second-generation BC products have a conversion efficiency advantage of 30W over TOPCon products, ensuring a competitive edge even as TOPCon technology evolves [3]. - The proportion of BC products in the company's order structure is rapidly increasing, with over 50% in most regions by September [3]. Production Capacity - As of the reporting period, Longi Green Energy's self-owned HPBC2.0 battery capacity reached 24 GW, with production gradually commencing in various projects [4]. - In the first half of 2025, the company achieved a silicon wafer shipment volume of 52.08 GW, with 24.72 GW sold externally, and a battery module shipment volume of 41.85 GW, including approximately 4 GW of second-generation BC modules with a conversion efficiency of 24.8% and a yield exceeding 97% [4].