On April 27, LONGi Green Energy's 2022 annual report and 2023 first quarter report were released. The financial report shows that in 2022, the company will achieve operating income of 128.998 billion yuan, a year-on-year increase of 60.03%; the net profit attributable to shareholders of listed companies will be 14.812 billion yuan, a year-on-year increase of 63.02%. The profit was 14.414 billion yuan, a year-on-year increase of 63.31%. In the first quarter of 2023, the company achieved revenue of 28.319 billion yuan. With the continuous high level of upstream raw materials, LONGi Green Energy took the initiative to bear the upstream cost pressure, ensured product delivery and contract performance capabilities, and continued to grow steadily in performance.
The component market has achieved "three consecutive crowns"
In 2022, LONGi Green Energy will achieve 85.06GW of monocrystalline wafer shipments, including 42.52GW for external sales and 42.54GW for self-use; 46.76GW of monocrystalline module shipments, including 46.08GW for external sales and 0.68GW for self-use. LONGi Green Energy once again ranked first in the world with more than 46GW of module shipments throughout the year, achieving "three consecutive crowns", and the company's operating income exceeded 100 billion for the first time.
From 2020 to 2022, the company's asset-liability ratios will be 59.38%, 51.31% and 55.39% respectively, and the weighted average return on net assets will be 27.23%, 21.45% and 26.95% respectively, and the interest-bearing liabilities will be kept at a relatively low level. Demonstrate good financial status and risk resistance level. With its excellent manufacturing capabilities and financial health, the company became the first module manufacturer in the world to receive the highest bankability rating from two industry authorities, namely PV ModuleTech and Bloomberg New Energy Finance (“BNEF”).
During the reporting period, the net cash flow generated by LONGi Green Energy's annual operating activities was 24.370 billion yuan, an increase of 97.77% at the same time; monetary funds were 54.372 billion yuan, accounting for 38.96% of total assets, an increase of 86.38% year-on-year. The scale of business operations has expanded rapidly, with relatively high growth in operating income, net profit and cash inflow, and continued to strengthen the company's ability to operate steadily and cycle through cycles.
The planned revenue in 2023 will exceed 160 billion
Since its listing in 2012, LONGi Green Energy has invested more than 20 billion yuan in research and development. As of the end of 2022, the company has obtained a total of 2,132 patents of various types, and the company has a total of 4,036 personnel engaged in R&D and technological innovation, accounting for 6.66% of the company's total employees.
During the reporting period, the efficiency of the silicon heterojunction cell developed by the company was certified by the German ISFH to break through 26.81%, which is the world record for the highest efficiency of crystalline silicon cells; the self-developed Hi-MO6 module product based on high-efficiency HPBC technology has the highest conversion efficiency up to 23.2%.
By the end of 2022, LONGi Green Energy's monocrystalline silicon wafer production capacity will reach 133GW, monocrystalline cell production capacity will reach 50GW, and monocrystalline module production capacity will reach 85GW. At the same time, the company accelerated the digital transformation and intelligent manufacturing construction progress of each production base, and continuously improved the production lean, automation and digitalization. All production units accelerated the transformation and upgrading of production lines, and the cost reduction and efficiency increase continued to appear. With the continuous improvement of the company's advanced production capacity and the constant increase in global photovoltaic installed capacity, the company is expected to continue to maintain high shipments and operating performance.
The company simultaneously announced the 2023 production capacity and shipment targets. By the end of the year, the annual production capacity of monocrystalline silicon wafers will reach 190GW, the annual production capacity of monocrystalline cells will reach 110GW, and the annual production capacity of monocrystalline modules will reach 130GW. In 2023, it is planned to achieve a shipment target of 130GW of monocrystalline silicon wafers (including self-use), and a target of 85GW of cell and module shipments (including self-use). The company stated that it plans to achieve an operating income of more than 160 billion yuan in 2023.
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