In the latest Q4 release of PV-Tech’s ModuleTech bankability report, LONGi is once again the only manufacturer to achieve a ‘AAA’ rating, based on industry-leading metrics across almost all manufacturing and financial indicators.

LONGi is arguably the most important player in the PV industry today, being the largest technology company with the highest market value in China’s A-share market. According to its own H1 2021 financial report, the company shipped 17.01GW of its monocrystalline modules, including 16.60GW in export sales, an increase of 152.40% year on year. The PV-Tech report indicates that there appears to be nothing currently to prevent the company from moving to a position of greater market share and achieving value-chain top-status in the c-Si world.

LONGi has consistently reported operating margins and R&D investment well above those seen from any other A-Grade competitor in the past. Coupled with investor confidence, the company’s financial and manufacturing scores are also much higher than other module suppliers. Using its existing methodology and analysis, PV-Tech has once again measured the relative strengths and weaknesses of shortlisted companies. LONGi’s strong metrics are clear to see in the above graphic (Figure 2), within the delta relative to all other companies in the sector today.

LONGi has continued to report steady revenue growth and control of its asset-liability structure. According to the company’s H1 2021 financial report, in the first half of the year it achieved revenue of 35.098 billion yuan ($5.433 billion), a year-on-year increase of 74.26%, with total assets of 97.130 billion yuan ($15.035 billion), a year-on-year increase of 10.84%. The company’s asset-liability ratio was 55.18%, down 4.20% from the end of 2020.