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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
China's solar industry is poised for recovery, according to Longi Green Energy's president, Li Zhenguo. He noted that the sector is at a turning point, with expectations that product prices will rise above cost levels within two to three quarters, as recent bidding prices have already shown some increase.
Longi Green Energy Technology Co. plans to establish a 16-gigawatt solar cell factory in Yibin, Sichuan, in collaboration with Yingfa Group. This investment comes despite Longi facing financial losses for four consecutive quarters due to over-capacity and plummeting solar equipment prices in a saturated market.
Longi Green Energy Technology Co. reported a loss of 1.26 billion yuan ($177 million) in the third quarter, marking its fourth consecutive quarterly loss. The Xi’an-based solar manufacturer continues to struggle amid a significant supply glut that is driving down prices and impacting profitability, contrasting with a net income of 2.5 billion yuan during the same period last year.
LONGi Green Energy Technology Co., Ltd.
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04:27 15.11.2024
07:16 07.11.2024
12:06 30.10.2024
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