Core Insights - The article highlights the resilience of integrated photovoltaic (BIPV) systems developed by LONGi Green Energy and Sentech in the face of extreme weather events, particularly Typhoon "Hagupit" [1][5][6] Group 1: Impact of Typhoon "Hagupit" - Typhoon "Hagupit" caused significant economic losses in Guangdong, with multiple instances of roof damage and structural failures reported [1] - Traditional photovoltaic systems were found to exacerbate roof vulnerabilities during the typhoon, leading to increased risks [1] Group 2: Performance of BIPV Projects - BIPV projects by LONGi and Sentech demonstrated reliable performance during the typhoon, with systems at various sites remaining intact and operational [2][3] - Specific examples include the Taishan Diheng Power Plant and Shenzhen Baoan Airport, where the BIPV systems maintained power supply and structural integrity [2][4] Group 3: Technological Advancements - The BIPV products feature advanced flexible connection technology, allowing them to withstand wind pressures up to 11.2 kPa, equivalent to a Category 17 super typhoon [6] - The LONGi Hi ROOF S system shows a 23% improvement in wind resistance compared to traditional photovoltaic solutions, underscoring the technological edge of integrated systems [6] Group 4: Value Proposition for Businesses - The integration of photovoltaic systems into building structures offers dual benefits of energy generation and enhanced safety, positioning them as essential for modern construction [5][7] - The article emphasizes that for commercial property owners, safety translates to significant economic benefits, making BIPV a preferred choice in the context of increasing extreme weather events [7]

Investment Rating - The report maintains a "Recommendation" rating for Longi Green Energy, indicating an expectation for the stock to outperform the market by 10% to 20% over the next six months [10]. Core Views - The financial condition of Longi Green Energy remains robust, with anticipated growth in BC (Back Contact) technology production, which is expected to enhance profitability [7][8]. - Despite a decline in revenue and ongoing pressure on profit margins due to falling product prices, the company has shown improvements in operational efficiency, leading to a significant reduction in losses [7][8]. - The report highlights the company's advanced HPBC2.0 technology, which is projected to account for over 60% of production capacity by the end of 2025, potentially driving profitability [7][8]. Financial Summary - For the first half of 2025, Longi Green Energy reported revenue of 32.813 billion yuan, a year-on-year decrease of 14.83%, while the net profit attributable to shareholders was a loss of 2.569 billion yuan, an increase of 50.88% year-on-year [4]. - The company's silicon wafer shipment reached 52.08 GW, a year-on-year increase of 17.2%, and battery module shipments totaled 41.85 GW, with a growth of 26.3% [7]. - The report projects revenues for 2025 to be 69.937 billion yuan, with net profits expected to improve to -3.667 billion yuan, followed by a recovery in subsequent years [6][8]. Operational Efficiency - The report notes a significant reduction in asset impairment losses and a decrease in selling and administrative expenses by 37% and 23%, respectively, contributing to improved operational efficiency [7]. - Inventory turnover days decreased by 26 days, indicating better inventory management [7]. Technology and Product Development - Longi Green Energy is focusing on high-value HPBC2.0 technology, which has achieved a conversion efficiency of 24.8% and a production yield of 97% [7]. - The company has developed innovative products such as the HIBC (High and Low Temperature Composite Passivation Back Contact Technology) module, achieving a power output of over 700W and an efficiency of 25.9% [8]. Future Outlook - The report anticipates that the company's advanced technology and product offerings will create a strong competitive advantage, helping it navigate through industry challenges and improve profitability in the coming years [8].