The Bright Future of Photovoltaic is the Inevitable Choice of Social Development - Congratulatory Speech of President Li Zhenguo on New Year

All LONGi employees, customers, investors, and related partners: The year of the Chinese calendar is about to pass. For the photovoltaic industry, it is bound to be an extraordinary year. In this year, the photovoltaic parity on-grid upsurge swept the world, and the on-grid electricity price at home and abroad constantly broke through the new low. With the continuous growth of global photovoltaic installed capacity and the acceleration of industry internationalization, China's photovoltaic industry has rapidly stepped out of the "531" pain period and entered a new stage of development. For LONGi, 2019 is also a key year to further accelerate the pace of globalization and enhance market competitiveness. In this year, we have continuously broken the world record of key indicators in the field of technology research and development; launched heavyweight products leading the development of the industry in the silicon chip and component end respectively; two technology leading bases, Changzhi and Tongchuan, built by LONGi, are connected to the grid for power generation.In this year, LONGi also ushered in many key nodes of historical significance - the total number of employees at home and abroad of the company is more than 30,000, the market value is more than RMB 100 billion, and the profit in the first three quarters reached a new high of RMB 3.484 billion. In addition, the new capacity of the company is launched intensively. It is expected that by the end of 2020, the company will have 65gw of silicon rod/wafer capacity, and by the end of 2021, it will have 20GW of battery and 30GW of component capacity. The goal of "rebuilding 1.5 new LONGi" will be achieved. Today, cheap internet access is very close. It can be predicted that the photovoltaic industry will usher in a brighter development stage, which is also the inevitable choice of social development. As far as the climate problem is concerned, the increasingly severe global warming has become the biggest challenge facing humankind. Photovoltaic power generation, which solves the economic problem, will become the best choice to balance the climate problem, energy supply, and economic development;As far as the energy structure is concerned, the trend of energy electrification and power cleaning has become irreversible. At the 25th UN climate conference held recently, we jointly issued the report of China's 2050 photovoltaic development prospect jointly with the Energy Research Institute of the National Development and Reform Commission and Shaanxi Coal Group. It is predicted that by 2050, photovoltaic will become the largest power source in China, accounting for about 40% of the total electricity consumption in China, This result has also been unanimously recognized by all walks of life; In terms of market prospects, driven by climate action and energy transformation, the global average annual photovoltaic installed capacity will reach more than 1,000gw in the next 30 years, and periodic product updates will also bring a huge stock replacement, which will form a sustainable market of 1,000 GW level; As far as the technical route is concerned, high-efficiency single-crystal photovoltaic products will still be the mainstream of the market in the future. With the continuous progress of technology, there is still room for a breakthrough in the conversion efficiency limit of single-crystal photovoltaic products; In terms of industrial direction, in the new development stage, the business form of the photovoltaic industry will also usher in new changes. The distributed and household photovoltaic market will become a new growth and outbreak point, and the photovoltaic building integration (BIPV) products have a broad prospect;As far as the development path is concerned, after several rounds of brutal market optimization and elimination, the advantages of the head enterprises are further highlighted, the industry will also usher in the transformation from high-speed development to high-quality development, and the future of the enterprise will be determined by the technical strength, product quality, and scale effect. Based on this, we believe that the future of the photovoltaic industry is bright, and LONGi is bright. In 2020, the 20th year of LONGi's establishment, LONGi's growth has witnessed the magnificent development of China's photovoltaic industry. In the past two decades, with the joint efforts of all photovoltaic practitioners, the cost of photovoltaic power generation has continuously been falling. The photovoltaic industry has achieved the goal of affordable access to the Internet at an unimaginable speed, which is the pride of all photovoltaic people! Here I would like to express my sincere respect to all the pioneers and predecessors who have promoted the development of the industry and to all the peers who have made unremitting efforts for the photovoltaic sector! Today is the day of the annual meeting of LONGi in 2020, which reminds me of a yearly gathering of the company many years ago. At that time, the company had just over a thousand employees. Looking at thousands of colleagues, I felt for the first time that my mission was no longer the realization of personal value, but to lead everyone to create a common cause. Now, LONGi is a multinational enterprise with more than 30,000 employees. Our business also goes beyond the scope of individuals, companies, and even industries. Today, we are carrying the mission of "making good use of the sunlight to create a green energy world." At the beginning of another decade, LONGi stands on a new historical starting point. I hope that all LONGi people can cherish this rare development opportunity, work hand in hand with peers, promote the early realization of energy structure transformation, and contribute to the sustainable development of humanity and the earth. Finally, at the beginning of the year of the mouse in the lunar calendar, I would like to send the best wishes for the new year to LONGi people and their families who have been fighting on all fronts of the company in the past year, to all the partners who have supported and helped LONGi development. I wish you all happiness and all the best in the new year and hope LONGi a prosperous development! I want to the photovoltaic industry a better future!