在全球碳中和背景下，隆基绿能制定了清晰的国际化战略，实现了从"中国制造"到"全球价值共生"的跨 越式发展。2024年，公司海外收入占比超过50%，其中中东非地区组件销量同比增长76%，巴基斯坦市 场销量激增136%。即使在行业整体承压的2025年上半年，隆基依然通过全球化布局实现了业务韧性。 公司在美国本土的组件产能已实现满产满销，马来西亚电池产能受美国关税影响较小，有效保障了在高 价值市场的持续出货。 近日，由招商证券主办的"相伴成长 共赢未来"走进上市公司深度调研系列活动走进隆基绿能科技股份 有限公司（简称"隆基绿能"，601012），带领投资者实地探访这家全球光伏产业的领军企业。通过高管 访谈、业务分享、展厅参观等环节，隆基绿能全面展示了其在技术创新、全球化布局及绿色可持续发展 领域的卓越成就，为投资者与企业搭建了深度交流的桥梁。 活动中，招商证券西北分公司总经理赵欣义与隆基绿能董事会秘书刘晓东分别发表致辞。赵欣义高度评 价隆基绿能，称其为光伏产业的领军者，以技术创新突破行业边界，用全球化视野践行绿色使命，为中 国企业参与全球能源革命树立了标杆。 刘晓东则进一步阐述了隆基绿能在当前中国高质量发展关键期的 ...

Core Viewpoint - Longi Green Energy, a major player in the photovoltaic industry, is facing significant challenges amid a deep industry adjustment, highlighted by a recent share reduction announcement from its second-largest shareholder, Hillhouse Capital [1][2]. Group 1: Shareholder Actions - Hillhouse Capital's HHLR Management plans to reduce its holdings by up to 37.89 million shares, representing no more than 0.5% of Longi's total shares [3]. - Following this reduction, HHLR's shareholding will drop to just below 5%, which would exempt it from future disclosure requirements for further reductions [3]. - This marks HHLR's first reduction in its holdings since acquiring shares over four years ago, with the initial purchase price being 70 yuan per share, totaling approximately 15.84 billion yuan [3][4]. Group 2: Company Performance and Management Changes - Longi Green Energy has recently undergone significant management changes, with CEO Li Zhenguo resigning from his executive roles to focus on R&D and technology management [2][5]. - The company's market capitalization has plummeted to 109.7 billion yuan, only 20% of its peak value, reflecting a substantial decline in stock performance [2][5]. - Longi has reported a staggering loss of 8.618 billion yuan in 2024, marking its first loss in nearly a decade, attributed to intensified industry competition and declining product margins [6]. Group 3: Future Outlook - The company is expected to focus on the BC technology route, with Li Zhenguo expressing optimism that 2025 will be a pivotal year for BC production capacity [7]. - Market attention is on whether Longi can navigate through the current industry downturn by leveraging its commitment to BC technology [7].