China’s solar energy production is expected to increase significantly in the coming years, with a forecasted growth of over 100% in the next few years. This information was highlighted in the latest earnings report from LONGi Green Energy Technology Co., Ltd. (300274.SZ), which indicated a substantial increase in revenue for the first quarter of 2025.
On April 25, 2025, LONGi Green Energy announced that its revenue for the first quarter was 190.36 billion yuan, representing a remarkable 50.92% increase compared to the same period last year. Additionally, the company’s net profit reached 38.26 billion yuan, up by 82.52% year-over-year. This growth marks the highest revenue increase for the company since the second quarter of 2023.
For the first quarter of this year, LONGi Green Energy’s net profit margin increased significantly, reaching 467.1%, totaling 17.9 billion yuan. The company’s revenue growth was driven primarily by the increasing demand for solar energy in the market.
In 2023, LONGi Green Energy reported total revenues of 778.57 billion yuan, which reflects a 7.76% increase compared to the previous year. This growth was also supported by the company’s efforts to expand its production capacity and enhance its market presence.
Looking ahead to 2024, LONGi Green Energy aims to achieve a production target of 147 GW for its solar photovoltaic products, with a storage system capacity increase to 28 GWh.
In terms of financial outlook, LONGi Green Energy expects to achieve a net profit of around 94.4 billion yuan in 2023, marking a substantial increase of 162.69% compared to the previous year. The forecast aligns with the company’s strategic goals to expand its operations and meet growing demand.
Moreover, LONGi Green Energy anticipates that by the end of 2024, its production capacity will reach 64 GW, reflecting a significant increase of 45.45% compared to the upper limit of its production in previous years.
The company’s financial reports also indicate that it has established a substantial market presence, with a share of approximately 53% in the domestic market and a growing share in international markets.
In conclusion, LONGi Green Energy’s performance reflects a strong upward trend in the solar energy sector, driven by increasing demand and strategic investments in production capacity. The company’s growth trajectory positions it favorably in the expanding renewable energy landscape.
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