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interface news reporter | ma yueran

the two leading photovoltaic companies that made the most money in the first half of last year suffered huge losses in the first half of this year.

8on the evening of june 30, longi green energy (601012.sh) announced that it achieved revenue of 38.529 billion yuan in the first half of the year, a year-on-year decrease of 40.41%; the net profit attributable to shareholders of the listed company was -5.243 billion yuan. the company's net profit in the same period last year was 9.178 billion yuan.

another photovoltaic leader, tongwei co., ltd. (600438.sh), had an operating income of 43.797 billion yuan in the first half of the year, down 40.87% year-on-year; net profit attributable to shareholders of the listed company was -3.129 billion yuan. its net profit in the same period last year was 13.27 billion yuan.

in the photovoltaic downturn cycle, the larger the company, the greater the impact. in the first half of 2023, longi green energy and tongwei co., ltd. were the two most profitable companies in the photovoltaic industry, with a total profit of 22.448 billion yuan. in the first half of this year, they suffered a total loss of 8.372 billion yuan.

in the first quarter of this year, longi green energy, a leading silicon wafer and module company, suffered a loss of 2.35 billion yuan, and the loss expanded to 2.893 billion yuan in the second quarter.

in the first half of the year, longi green energy was troubled by the continued sharp decline in industry chain prices and inventory impairment provisions, and set aside a total of 5.784 billion yuan in asset impairment provisions, plus 4.375 billion yuan in inventory write-off provisions, which ultimately affected the company's profits by about 1.41 billion yuan.

during the same period, the company achieved silicon wafer shipments of 44.44 gw (21.96 gw external sales); battery external sales of 2.66 gw; module shipments of 31.34 gw, of which sales in the asia-pacific region increased by more than 140% year-on-year.

longi green energy is still focusing on the research and development and application of bc technology. the company believes that in the context of an industry where homogeneous competition on the supply side of the industry is intensifying, product efficiency, scenario-based, and differentiated products have become the key to breaking through internal competition.

based on hpbc 2.0 battery technology, longi green energy launched the bifacial module product hi-mo 9 for the centralized market. the mass production power of the module reaches 660 w, which is more than 30 w higher than the topcon module of the same specification. the module conversion efficiency has jumped to 24.43%, the bifaciality rate has exceeded 70%, and the ability to resist hidden cracks has increased by 80%.

the company believes that the above products have obvious advantages over topcon products in terms of temperature coefficient, attenuation, and resistance to uneven light radiation. in terms of distributed products, the mass production conversion efficiency of its hi-mo x6 max product components has increased to 23.3%.

longi green energy's n-type terai silicon wafers have been introduced into mass production, and the improvement in quality and efficiency has been verified on the battery side; with the construction of bc second-generation projects such as the xixian new district phase i annual production of 12.5 gw batteries and tongchuan 12 gw batteries and capacity transformation projects, hpbc 2.0 products will be launched on a large scale by the end of 2024.

it is expected that by the end of 2025, longi green energy's bc production capacity will reach 70 gw (of which hpbc 2.0 capacity will be approximately 50 gw). by the end of 2026, all of its domestic battery bases are planned to be migrated to bc products.

in overseas markets, longi green energy said that it has achieved smooth customs clearance for shipments to north america, and its 5gw module factory in the united states has officially started production, providing strong support for business development in north america.

as a leader in silicon materials and batteries, tongwei co., ltd.'s losses in the second quarter were nearly three times that of the first quarter. the company's losses in the first quarter were 787 million yuan, which expanded to 2.343 billion yuan in the second quarter.

at present, tongwei co., ltd. has formed an annual production capacity of high-purity silicon exceeding 650,000 tons, an annual production capacity of solar cells of 95 gw, and an annual production capacity of modules of 75 gw.

in the first half of the year, tongwei co., ltd. achieved sales of 228,900 tons of high-purity crystalline silicon, a year-on-year increase of 28.82%. against the background of a significant increase in the proportion of n-type silicon, its unit comprehensive power consumption has now dropped to below 50 degrees, and silicon consumption has dropped to less than 1.04kg/kg-si.

in the battery segment, the company achieved battery sales of more than 35 gw (including self-use), which was basically the same as the previous year.

last year, tongwei co., ltd. took the lead in the industry to launch large-scale perc capacity transformation and upgrading. at present, about 38 gw of perc capacity has been fully transformed, and tnc battery monthly production accounts for more than 80%. in addition, the company's 16 gw of new tnc battery capacity in meishan has been put into production, and the 25 gw of tnc capacity in shuangliu is expected to be fully put into production before the end of the year, by which time its tnc battery capacity will exceed 100 gw.

in the first half of the year, tongwei co., ltd. achieved module sales of 18.67 gw, a year-on-year increase of 108.36%. the company said that on the basis of consolidating the existing market, the overseas module market has newly developed markets such as south africa and the united arab emirates, and has successively obtained module orders from well-known overseas customers such as south africa's amea power, spain's baywa, and romania's glodeni solar.

as of the end of june, tongwei co., ltd. has built a total of 54 photovoltaic power stations, achieving a grid-connected installed capacity of 4.39 gw, settled electricity of 2.434 billion kwh in the first half of the year, and achieved carbon emissions reduction of 1.8 million tons.

according to tongwei co., ltd.'s capacity planning, it is expected that from 2024 to 2026, its high-purity silicon production capacity will reach 800,000 to 1 million tons, its solar cell production capacity will reach 1.30-150gw, and its module production capacity will reach 80-100gw.

in the first half of the year, due to various asset impairment provisions, tongwei co., ltd.'s total profit decreased by 2.37 billion yuan and the net profit attributable to shareholders of the listed company decreased by 1.527 billion yuan.

in the semi-annual report, longi green energy and tongwei co., ltd. did not disclose details such as the industry division, product revenue share, and gross profit margin of each division.