Clarification on LONGi's ‘debt record’, as referred to in 2Q 2022 BloombergNEF report


LONGi Green Energy Technology Co., Ltd (hereinafter LONGi) has noted that BloombergNEF, a global third-party research provider, stated in its 2Q 2022 Global PV Market Outlook that “the world’s largest module maker, LONGi, is […] off the list for 2Q 2022 because it has a debt record from May 15, 2022.” The company feels it necessary to clarify the circumstances behind this perceived debt and is therefore issuing the following statement.

The ‘debt record’ in question refers to a minor labour dispute between the company and an individual, which has now been settled. Settlement of the case overlapped with BloombergNEF’s compilation of its report, which explains the information contained therein not reflecting the true current status and subsequent confusion in the organisation’s assessment of LONGi’s Tier 1 PV module manufacturers ranking.

LONGi continues to report strong financial capacity, as well as consistent growth momentum. The company’s operating revenue in 2021 was CNY 80.932 billion ($12.694 billion), a year-on-year increase of 48.27%. Net profit attributable to the parent company during the period was CNY 9.086 billion ($1.425 billion), a new high. With the company’s excellent market performance, asset-liability ratio was 51.31%, down 8.07% from the previous year. Furthermore, LONGi’s global sales performance, market share and brand influence ranked it first in the world, with total shipment volumes for domestic and exported modules exceeding second place by more than 10GW.

LONGi has in recent years been placed at the top of global bankability rankings produced by a number of institutions, due to its solid and stable operations and excellent financial performance. 

Under its brand philosophy of ‘Steadfast and reliable technology leadership’, LONGi aims to provide customers and partners with a comprehensive understanding of its business performance at all times, reinforcing their confidence in its continued reliable operations. LONGi will release its annual sustainability report in the coming week to provide a complete picture of the company's business situation and wishes to place on record how much it values the long-term support of its customers and partners.

*Note: The financial figures in the FY2021 report are denominated in Chinese Yuan (CNY). The converted USD amount is for reference only.