Longi Solar today announced to invest RMB 13.3 billion (USD 1.94 billion) in its newly decided projects, including RMB 10.75 billion (USD 1.57 billion) in the 46 GW monocrystalline silicon rod and wafer production in Ordos, Inner Mongolia Autonomous Region, and RMB 2.52 billion (USD 367.4 million) for 10 GW mono module manufacturing in Wuhu, Anhui Province.
The company expects a further consolidated leading position in technology and product after the production, aiming to better seize the development opportunities, further improving its silicon wafer capacity, and optimizing capacity layout. After the project investment is completed, there will be no new connected transactions and horizontal competition, said Longi.
In the semi annual report of 2022 released today, Longi achieved an operating income of RMB 50.417 billion (USD 7.4 billion) in the first half of the year, up 43.64% YoY. The company presented a robust operating ability with a large number of new players and capitals flocking into the solar industry.
During H1 2022, Longi shipped 39.62 GW of mono wafers, including 20.15 GW for external sales and 19.47 GW for self construction. The shipment volume of mono modules was 18.02 GW.