Longi(SH:601012) Di Yi Cai Jing·2025-10-30 09:53Core Viewpoint - Longi Green Energy reported a significant reduction in net losses for the first nine months of the year, indicating a potential recovery despite ongoing challenges in the photovoltaic industry [1][2]. Financial Performance - For Q3 2025, Longi Green Energy's revenue was 18.101 billion yuan, a decrease of 9.78% year-on-year, with a net loss of 834 million yuan. For the first three quarters, revenue totaled 50.915 billion yuan, down 13.10% year-on-year, with a net loss of 3.403 billion yuan [1]. - The company achieved a reduction in net losses, with a cumulative net profit attributable to the parent company decreasing by approximately 48% year-on-year from January to September [1]. Market Strategy - The company aims to achieve breakeven in Q4 2025, focusing on increasing the revenue share of BC products and scenario-based products to improve operational performance [2]. - Longi Green Energy's monthly BC production is approximately 2.5 GW, with expectations for gradual increases. By the end of 2025, the HPBC2.0 battery capacity is projected to exceed 60% [2]. Sales and Production - From January to September, Longi Green Energy sold 38.15 GW of silicon wafers and 63.43 GW of battery modules, with BC module sales reaching 14.48 GW [3]. - In the first half of 2025, driven by a domestic market rush, BC component sales accounted for about 55% in the domestic market and 45% in overseas markets [2]. Market Outlook - The management anticipates that the photovoltaic market demand in 2026 will remain close to this year's levels, with significant growth facing considerable pressure. Demand is expected to stabilize in China, Europe, and the U.S., while notable increases may occur in regions with electricity shortages [3].