On September 30, Longji Green Energy disclosed the record of investor relations activities in September. In the first half of 2026, the company's overseas component sales increased by more than 26% year-on-year, and the proportion of overseas component revenue increased to more than 65%.
Among them, the sales of components in the American market increased by more than 36% year-on-year , and those in the European market increased by more than 34% year-on-year . Component sales in the Asia-Pacific market grew by more than 20% year-on-year , leading in key markets such as Europe, Latin America, Southeast Asia, Pakistan and the United Arab Emirates.
At the same time, in the first half of the year, the company's energy storage business signed more than 3 GWh.
In the first half of the year, the main reason for the pressure on Longji Green Energy's operating performance was the loss of delivery of some centralized orders caused by the high silver price in the first quarter . As well as foreign exchange losses and losses on investments in associates.
In view of the current photovoltaic market, Longji Green Energy said that at present, the "anti-involution" work in the photovoltaic industry is continuing to advance, and a series of policies have been issued at the national level to promote the reconstruction of the competition order in the photovoltaic industry. But at the same time, Longji also said that at present, the contradiction between supply and demand in the photovoltaic industry is still prominent, and the price of the photovoltaic industry chain continues to bear pressure.
The following is the full text:
1. What is the progress of anti-involution in the photovoltaic industry? Is it expected that the policy makers will take new actions to speed up the clearance? What is the expected effect of the capacity standard policy implemented in 2027?
Answer : At present, the "anti-involution" work in the photovoltaic industry is continuing to advance, and a series of policies have been issued at the national level to promote the reconstruction of the competition order in the photovoltaic industry. The new photovoltaic national standard will be implemented on January 1, 2027, running through the upstream raw materials to the terminal component products, comprehensively raising the industry's energy efficiency access threshold, and effectively clearing the industry's substandard capacity.
2. Under the background that the current component price is still under pressure, what is the premium of BC products? What is the core barrier for the company to maintain the advantage of BC technology generation difference and excess profits in the next 1-2 years?
Answer : At present, the contradiction between supply and demand in the PV industry is still prominent, and the price of the PV industry chain continues to be under pressure. In this context, the company's high-efficiency BC products, relying on its high power, high reliability, high safety and aesthetic performance, have gradually gained wide recognition from global customers, the global market penetration rate has increased rapidly, and the product price has a certain premium over conventional products. Especially in the distributed market, the premium effect is more obvious, which also promotes the improvement of the company's main business. In the first half of 2026, the company's comprehensive gross profit rate turned positive year on year. In terms of BC technology, the company has clear first-mover advantages in technology research and development, patent layout and mass production application. The company also further strengthens the moat of BC technology through the way of "independent innovation + industrial collaboration + patent layout + business secret protection" to ensure the leading BC technology and supply chain security.
3. What is the current commercialization progress of the company in consumer scenarios such as household photovoltaic, photovoltaic + automobile, photovoltaic + intelligent display?
Answer: Photovoltaic power generation system has a wide range of applications, such as energy, transportation, agriculture, construction, etc. The company continues to explore and expand the application potential of photovoltaic power generation in different scenarios, in which the business model of household photovoltaic has been relatively mature and has become an important part of the global photovoltaic installation. The commercial value of some application scenarios remains to be verified by time.
4. In the first half of 2026, in addition to the impact of the contradiction between supply and demand in the industry, what are the main reasons for the pressure on the company's operating performance?
Answer: In the first half of 2026, the main reasons for the pressure on the company's operating performance were the delivery loss of some centralized orders caused by the high silver price in the first quarter, as well as the exchange loss and the investment loss of joint ventures.
5. Prepayments in the semi-annual report of the Company for 2026 (1) The balance of prepayments at the beginning of the period is 369,410,976.65 yuan for 1-2 years, and the balance at the end of the period is 468,897,250.51 yuan for 2-3 years. Generally, the amount of the ending balance of 2-3 years should be less than or equal to the data of the beginning balance of 1-2 years. Please explain why?
Answer: At the end of the reporting period (June 30, 2026), the prepayment with an account age of 2-3 years is the prepayment from July 2023 to June 2024. At the beginning of the period (December 31, 2025), part of the prepayment with an account age of 1-2 years and part of the prepayment with an account age of 2-3 years. Therefore, the prepayments aged 2-3 years at the end of the reporting period are not all from the prepayments aged 1-2 years at the beginning of the reporting period, and there is no articulation that the balance of the prepayments aged 2-3 years at the end of the reporting period should be less than balance of the prepayments aged 1-2 years at the beginning of the reporting period. In addition, during the reporting period, the company's acquisition of Suzhou Longji Precision Control Technology Co., Ltd. also increased some long-aged prepayments.
6. What measures does the company take in exchange management?
Answer : The company will continue to pay attention to the trend of exchange rate changes, and reduce the risk of exchange rate fluctuations through measures such as managing the account period of foreign currency assets, timely settlement of foreign exchange, and hedging through foreign exchange derivatives under the premise of strict risk control.
7. Reasons for the increase in the Company's inventory at the end of the first half of 2026 and the decrease in notes payable and accounts payable?
Answer: The increase in the inventory balance of the Company at the end of the period was mainly due to the strategic stock and the increase in inventory through the acquisition of Longji Precision Control. The decrease in notes payable and accounts payable of the Company at the end of the period was mainly due to the increase in the scale of payment of letters of credit at maturity during the period.
8. Performance of the Company's component business in overseas markets in the first half of 2026?
Answer: In the first half of 2026, the company's overseas module sales increased by more than 26% year-on-year, and the proportion of overseas module revenue increased to more than 65%, of which the sales of modules in the American market increased by more than 36% year-on-year, the sales of modules in the European market increased by more than 34% year-on-year, and the sales of modules in the Asia-Pacific market increased by more than 20% year-on-year. It has gained a leading position in key markets such as Europe, Latin America, Southeast Asia, Pakistan and the United Arab Emirates.
9. Progress of the Company's energy storage business in the first half of 2026?
Answer: In the first half of 2026, the Company successively launched a series of energy storage products covering large-scale ground energy storage, industrial and commercial energy storage, and off-grid microgrid scenarios around the LONGi ONE full-stack optical storage integration strategy. With the advantages of self-developed energy storage integration technology and global brand channels, the company has promoted the cooperation of a number of major energy storage projects at home and abroad, with a cumulative signing volume of more than 3GWh in the first half of the year.
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