Xi ́an, CHINA, September 3, 2019 – LONGi, the world’s most valuable solar technology company with its corporate headquarters in Xi’an, China, released its 2019 semi-annual report to shareholders, reporting stellar financial results and significant capacity achievements.
Strong operating performance
Operation revenue in 1H-2019 reached 14.11 billion yuan ($2081 million), a YoY increase of 41.09%. Net profit attributable to shareholders of the listed company was 2.01 billion yuan ($ 296.46 million). Basic earnings per share were 0.57 yuan (8.41 US-cents) and weighted average return on equity was 10.17%.
At the end of the reporting period, LONGi’s total assets reached 51.616 billion yuan ($7.61 billion). Its asset-liability ratio was 56.54%, down from the first quarter 2019. Compared to Q1- 2019, days of inventory decreased by 18 days and accounts receivable decreased by 19 days.
In 1H-2019, LONGi shipped 2.148 billion pieces monocrystalline silicon wafers, a 183% increase over the previous year. Sales of cells and modules reached 712MW and 3,193MW respectively, a 21% YoY increase.
