LONGi retains status as only AAA-Rated solar module supplier

LONGi Solar

PR84041

 

XI'AN, China, May 15, 2020 /PRNewswire=KYODO JBN/ --

 

LONGi has been confirmed again as the only AAA-Rated solar photovoltaic (PV)

module supplier globally, according to the Q2 2020 release of the PV ModuleTech

Bankability Ratings(

https://marketresearch.solarmedia.co.uk/products/pv-moduletech-bankability-ratings-quarterly-report),

compiled by the third-party research division at PV-Tech.org.

 

https://photos.prnasia.com/prnh/20181108/2292512-1-LOGO

 

The PV ModuleTech Bankability Ratings(

https://marketresearch.solarmedia.co.uk/products/pv-moduletech-bankability-ratings-quarterly-report)

system was developed by the PV-Tech research team in 2019, and is considered

the most accurate tool to assess the relative strengths and weaknesses of

module suppliers in the PV industry.

 

According to the Q2 2020 report by PV-Tech, "Until the end of 2019, and through

preliminary Q1 20 results, LONGi continues to make huge margins on wafer sales

while adding more multi-GW of capacity each year. This has created a strong

financial position that now differentiates the company from all other module

suppliers globally."

 

https://photos.prnasia.com/prnh/20200511/2799895-1

 

LONGi recently reported Q1 2020 and full-year 2019 company results,

highlighting strong revenue growth coupled with an expansion of global business

activities. These new reports provide a strong and clear statement of LONGi's

ability to maintain sustainable business development and reliable operational

performance.

 

"LONGi has demonstrated an ability to manage risk and cope with market changes,

prioritizing its financial health and operational strengths at all times",

according to Dennis She, Senior Vice President of LONGi Solar. "During previous

market cycles, LONGi's asset-liability ratio has remained at low levels,

compared to other global PV manufacturers. This strong financial health, as

confirmed within the company's latest Annual Report, translates directly to

strong bankability, and is a key factor in LONGi obtaining AAA-Rated status by

PV-Tech for a second consecutive quarter."

 

In recent years, LONGi has successfully enhanced its overseas presence and

global brand value, routinely achieving significant breakthroughs. In 2019,

shipments of solar cells and modules reached 9.1 gigawatts (GW), an increase of

28% compared to 2018. Shipment volumes outside China reached 5.0 GW in 2019,

accounting for 67% of total sales, an increase of 155% compared to 2018.

 

LONGi's attention and focus on the importance of strong R&D investments is

illustrated by the company having over 600 R&D personnel, while accumulating

more than 700 patents. During 2019, LONGi invested 1.7 billion yuan into R&D,

accounting for 5.1% of revenue from operations. These sustained R&D investment

levels have been pivotal to the company driving key technology changes each

year within the industry, in particular through module power increases and

lower manufacturing costs.

 

Source: LONGi Solar

 

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   Caption: LONGi retains status as only AAA-Rated solar module supplier

 

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