On September 3, Longji Green Energy released the record of investor relations activities of the first half of 2025 performance presentation. The company's chairman, general manager Zhong Baoshen, director, financial officer Liu Xuewen, independent director Li Meicheng and board secretary Liu Xiaodong participated in the reception.
In this question-and-answer session, Longji Green Energy said that the change of photovoltaic demand in 2026 is still uncertain, but overall, it is expected to maintain a level close to this year, and there is greater pressure to achieve significant growth.
"But at the same time, there are also many positive factors, especially in the global power shortage and underdeveloped areas, photovoltaic demand is very strong, the increment is very obvious; while the overall demand of China, Europe and the United States, which are larger markets, will be in a stable state."
For the current production capacity of BC products, Longji Green Energy revealed that the current monthly output of BC is about 2. The company expects that the proportion of BC products in total shipments will reach 50% by 2026.
As for when it will be profitable, Longji Green Energy said it hoped to achieve a flat gross profit and cost of its main business in the fourth quarter of this year.
"The company will promote the improvement of its business situation by increasing the gross profit of its products and reducing its expenses.". At present, although the cost has entered a stable stage, the company will strive to reduce it, and the decline is expected to be limited. In addition, with the continuous increase of BC production capacity, the sales proportion of BC products will increase significantly every quarter, which will promote the improvement of the company's average gross profit rate.
In response to the introduction of the OBBB Act in the United States, Longji Green Energy said: "In general, the company will consider reducing its shareholding in joint venture factories in the United States to meet the compliance requirements of the OBBB Act in the United States."
2. Under the current background of anti-involution, what direction will the company put its resources and strategic focus in order to achieve the continuous improvement of its competitive advantage? In the face of changes in the external environment, these directions of the company have not changed, and will continue to work in accordance with the existing business rhythm.
3. How does the company look forward to the cost reduction rhythm of BC products in the coming year?
4. How many GW can current monthly output of the company's BC products reach? What is the mainstream power gear of BC products currently produced? At present, the mainstream power distribution of BC products is 650 W-655 W.
5. How does the company view the profitability of the silicon wafer sector in the future? However, many innovative solutions have been proposed within the company, which are expected to promote the reduction of non-silicon costs. The company's Tairui silicon wafer has technological advantages and is very popular in the market at present. The silicon wafer sector is still in the process of market clearing and will be profitable in due course in the future.
6. What is the change trend of power difference between BC products and TOPCon products? What is the company's progress in perovskite stack technology? After TOPCon products are combined with more new process technologies, BC products can still maintain the power advantage of 20 W, but the investment of TOPCon will be basically the same as that of BC technology. In terms of tandem cell technology, the reliability of perovskite tandem technology has been continuously improved in the past two years, and the opportunities for commercialization are also growing. Although the technology of lamination still faces challenges, it has made significant progress compared with two years ago. Therefore, the company also has plans for tandem battery technology, setting some efficiency and reliability targets.
7. After the introduction of the OBBB Act in the United States, what is the change of the company's strategy in the United States market?
8. How does the company view the https://www.databm. of the domestic and global markets next year 9. What is the progress of the company's base metallization program? 10. What are the positive impacts of the functional component products launched by the company on the company? Among them, the anti-ash component is the most typical and has almost become a popular product. Compared with other similar products on the market, the gross profit of the company's anti-ash components can be 3% -5% higher, which is the value brought by the product function. If it is a scenario-based product with smaller sales volume, its gross profit will be higher, for example, the gross profit of lightweight components may be about 15% higher than that of normal products. Therefore, these scenario products have solved the pain points of customers, so the response of customers is very positive. The company will also insist on digging deep in this direction, and there are internal requirements to continuously improve the proportion of these scenario products, mainly because these products can better contribute to the profits of enterprises. 11. Has the company considered combining the traditional manufacturing business with other new businesses? In 12. Will there be any change in the company's pricing strategy for large overseas projects, such as order cycle and price adjustment terms? Bidding mode is the main mode in China, while inquiry and bidding are the main mode overseas, and some projects also adopt long-term cooperation mode. In terms of signing strategies, each enterprise has different ways. If the cost increases due to changes in the trade policy environment, the company will have the demand to adjust the relevant terms and communicate with customers. 13. When does the company expect to turn a profit and why? The company will promote the improvement of its operation by increasing the gross profit of its products and reducing its expenses. At present, although the cost has entered a stable stage, the company will strive to reduce it, and the reduction is expected to be limited. In addition, with the continuous increase of BC production capacity, the sales proportion of BC products will increase significantly every quarter, which will promote the improvement of the company's average gross profit rate. 14. What is the proportion of the company's BC components shipped in 2026? At present , all links and manufacturers in the photovoltaic industry are increasing research and development to seek the next step of technological development, but at the same time, it also brings repeated investment in technical resources, repeated trial and error, etc. Will the company consider participating in or taking the lead in organizing cross-company and cross-link large-scale technical research projects? Relying on the platform of Academia Sinica and several national and provincial enterprise technology centers, the company has set up a technology R & D team of more than 3000 people, and has formed an open and collaborative innovation ecosystem with the upstream and downstream of the industrial chain, world-renowned universities and authoritative R & D institutions. Since this year, the company has continued to promote the construction of BC innovation ecosphere, and established the Global BC Eco-Collaborative Innovation Center in August this year, marking the further expansion of BC ecosphere. By the end of May 2025, the company has launched technical docking with 191 partners around the world, and has reached 55 cooperation with 44 partners. Covering silicon wafers, cells, modules, system solutions, , what is the current status of BC1.0 capacity?"? Is it all out of production or in partial production? How many of them have been upgraded, how many are in the process of upgrading or are ready to upgrade, and how many are scrapped? 0 battery production capacity has been fully upgraded and transformed to HPBC 2.3 . In the first half of the year, BC2.0 modules shipped 4GW, which is not fully matched with the production capacity announced by the company several times before. Is it not full production or some of them are shipped in the form of BC2.0 batteries? When HPBC 2. The shipment volume during the period is based on the output during the period, the company expects that in the second half of this year, HPBC 2.4 . The company's recent reports have mentioned the shipment of components and batteries. Is the battery part of the shipment BC batteries? 5. When is the HPBC2.0 demonstration power station built by the company in Yinchuan Base of the National Solar Photovoltaic Product Quality Inspection Center expected to release the results? Does the company plan to sell to the U.S. market in an independent capacity (excluding the U.S. joint venture factory)? Is the reason for the 0 shipment of only 4GW due to capacity or market price? Is there any adjustment to the shipment target of 0? What is the revenue and gross profit of the company's export of silicon wafers and rods in the first half of the year? (2) 10 The policy changes in the US market are particularly rapid, and the current situation is more complex. For the time being, the company mainly supplies the US market with US joint venture factories. (3) In the first half of this year, the company's HPBC 2.0 production capacity is in a continuous climbing stage, so the production is also in the process of gradual increase. It is expected that HPBC 2.0 in the second half of this year. (4) According to the business plan formulated by the company at the beginning of this year, the shipment of components in 2025 is expected to be 80-90 GW. BC accounts for about 25%. At present, the company maintains the shipment target. (5) In the first half of this year, the company achieved a revenue of about 3.4 billion yuan from silicon wafers and silicon rods, with a gross profit margin of about -7%. 6. Whether the technical route of Longji Green Energy BC Battery can make the company break through for the second time, and whether there is a possibility that the technical route is wrong and overtaken by other technical routes? In the first half of this year, the company achieved a sustained breakthrough in the R & D and mass production of BC battery components. The research and development efficiency of the company's BC battery reached 27.81%, and the research and development efficiency of the BC module exceeded 26%, both of which broke the relevant world records. At present, the company's HPBC 2.
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