LONGi's Latest Communication Minutes

Answer: With the continuous advancement of global energy transformation, it is expected that the global photovoltaic market demand will continue to grow in the next few years. However, due to the different development problems that need to be solved in major markets, the photovoltaic industry is expected to enter a stage of steady growth in the next few years, with an annual growth rate of about 10%-15%.

Answer: Judging from the recent domestic photovoltaic component bidding situation, the price of some components has fallen below 0.7 yuan/W. Under the continuous operating pressure, the industry's component production schedule has begun to turn cautious. Combined with the data of the third-party industry consulting platform, the industry's component production schedule is generally stable at present, and this situation is expected to continue until the fourth quarter of this year.

Answer: Since the beginning of this year, the price of photovoltaic components has been less than 1 RMB/W, and the proportion of photovoltaic system costs has dropped significantly. The continued decline in component prices has made a relatively limited contribution to system costs. In addition, the impact of other factors such as power consumption constraints, energy policy adjustments, and interest rate fluctuations on terminal demand is becoming increasingly prominent, and component prices are no longer the most important factor affecting terminal photovoltaic demand.

Answer: If we look at the nominal capacity, it is expected that the problem of industry supply and demand mismatch will still exist in 2025. However, as the operating pressure of industry enterprises continues, the actual output and demand of the industry will gradually be balanced, which will promote the gradual repair of industry chain prices. At the same time, photovoltaic technology is still making continuous progress, and the development of new high-efficiency battery technology will also promote the optimization of the industry supply structure and further lead the rational return of industry prices.

Answer: In the third quarter of 2024, the company's silicon wafer production schedule continued to maintain a stable level, and there was no obvious adjustment between months; the component production schedule was adjusted up for three consecutive months, mainly because the company had abundant component orders in the second half of this year.

Answer: The company moderately raised the price of silicon wafers at the end of August this year, with the aim of promoting the industry to end the disorderly state of low-price competition as soon as possible and return to a rational and healthy competitive environment. After this price adjustment, silicon wafers continued to be traded at the adjusted price. Due to the deep price drop in the current round of industrial chain, it will take time for the industrial chain price to be repaired.

Answer: The company currently has 1.5GW HPBC second-generation battery production capacity. According to the existing plan, it is expected that the company will form 5oGW HPBC second-generation battery production capacity by the end of 2025.

In May 2024, the company released the Hi-MO 9 module for the centralized photovoltaic market, which uses Terai silicon wafers and HPBC second-generation battery technology, with a mainstream power of 660W. Since its release, the expansion of Hi-MO9 modules in the global market has continued to make breakthroughs. As of the end of August, the company has signed 1.6GW of Hi-MO 9 module orders, mainly from China, Europe, the Middle East, Asia-Pacific and Latin American markets. The company will also release distributed photovoltaic products based on HPBC second-generation battery technology in the future.

Answer: Most of the Hi-M09 module orders currently signed will be delivered in 2025. Due to the small delivery volume this year, the impact on the company's profits this year is expected to be very limited.

Answer: The US has not yet made a ruling on the anti-dumping and countervailing duty investigation on photovoltaic cells and modules in four Southeast Asian countries (Cambodia, Malaysia, Thailand and Vietnam). If the subsequent tax rate is high, it is expected that Southeast Asian modules will find it difficult to enter the US market, but batteries may continue to enter the US market. The main reason is that the supply of batteries in the United States is limited. According to the expansion plan of the domestic module production capacity in the United States, the gap in the battery production capacity in the United States will continue to expand in the next few years.

Answer: The company currently has no plans to acquire photovoltaic assets.