In August of 2019, the leading solar company LONGi released its report to the world. This statement details their achievements regarding their capacity as well as the financial results of this quarter.
One of the most prominent pieces of news made available in their report was the news of their M6 Silicon Wafer. This wafer, which measures 166mm, will improve the output of their cells while reducing the per KW cost of energy production. This silicon wafer is projected to improve cell efficiency by 22.5% while boosting output to 440W. To accentuate the performance of the M6 Silicon Wafer, LONGi also announced the release of the Hi-Mo4 bifacial PERC module which operates with half-cut cell technology.
In addition to announcing the release of these new technologies, they also confirmed their success regarding their production capacity forecasts. Originally, they developed a plan which stated that their monocrystalline modules capacity is proposed to rise to 16GW by 2019. These figures would then increase to 25GW by the end of 2020 and 30GW by the end of 2021. As matters stand, they will be able to reach a total capacity of 65GW towards the end of 2020.
Leaps in the performance of their operations
In this quarterly report, LONGi announced that its business had successfully grown their revenue by 40.06%. This means that their revenue for 2019 reached an excess of $2081million. They also stated that their shipments of microcrystalline modules had increased by 183% while their sales of cells and modules has increased by 21%.
While having great success with their sales they were also able to successfully expand their business to international locations. As opposed to prior years, 2019 saw an increase of 252% in the number of international sales made by the company. They have had particular success with their microcrystalline technology, and experts at LONGi believe that this technology will boost international sales by a further 69% by the end of 2019.