On April 28, Longji Green Energy released its annual report for 2025 and its quarterly report for 2026. Restricted by the continuing downturn in product prices, insufficient start-up rate and the rising cost of raw materials such as silicon and silver paste in the fourth quarter of last year, the company realized business income of 70.347 billion yuan last year. In the first quarter of 2026, it realized business income of 11.192 billion yuan . The production and sales rate of
components reached 98.96%, and the number of various authorized patents was 3690.
In recent years, the rapid expansion of production capacity has made the industry still in a serious state of mismatch between supply and demand, the operating rate remained low, and the price of the industrial chain fluctuated significantly under the disturbance of factors such as domestic rush installation and anti-inwinding. Through the strategy of two-way cost reduction and efficiency enhancement of management and products, Longji Green Energy has achieved the cumulative shipment of monocrystalline silicon wafers ranking first in the world in the past ten years. In 2025, the non-silicon cost of the company's silicon wafer process decreased by 29% compared with 2024 , and the production and sales rate reached 96.46% .
Over the past seven years, Longji's component shipments have been among the top two in the world, with a production and sales rate of 98.96% . As of the end of the reporting period, the Company's self-owned battery production capacity of HPBC 2.0 reached 46GW , and the cooperative production capacity with Yingfa Derui and Pingmei Longji reached 11GW . In 2025, the integrated operation of the company's plan achieved remarkable results, and the inventory turnover days decreased by 10 days compared with the same period last year.
In the newly released world record of Martin Green's 67th edition of Solar Cell Efficiency Table, the company has created 10 world records covering the fields of heterojunction batteries, HIBC batteries, HBC modules, laminated batteries and modules, which has reserved sufficient technical momentum for the medium- and long-term development in the future. As of the end of the reporting period, Longji Green Energy has obtained 3690 authorized patents of various types , and has established a full-chain and international intellectual property system.
This year, BC component shipments accounted for more than 60%
of Longji Green Energy's highest financing rating for PVTech component manufacturers for 24 consecutive times. As of the end of the reporting period, the company's asset-liability ratio was 64.43% and the interest-bearing debt ratio was 22.89% , maintaining sufficient and safe cash reserves. In the current drastic industry fluctuations and industrial transformation and evolution, this kind of financial resilience rooted in the operation gene not only builds a solid barrier for the company's safe operation, but also provides an important resource guarantee for the company's sustained technological iteration, global layout and strategic upgrading. In the first quarter
of 2026, the company continued to rank as a Bloomberg Tier 1 component manufacturer, and was selected as a Bloomberg Tier 1 energy storage manufacturer for the first time after laying out the energy storage field. The company has been awarded "Fortune China 500" and "China Manufacturing 500" for many years. In the "2025 China Brand Value Evaluation Information", Longji ranked first in the photovoltaic industry with a brand value of 73.48 billion yuan.
According to InfoLink data, global shipments of new energy storage systems in 2025 are 421 GWh, up 75% year-on-year, and 600 GWh are expected to be shipped in 2026, maintaining a high growth trend. The deep integration of optical storage has become an inevitable trend of industrial development. In the first quarter of 2026, the company launched full-stack self-developed optical storage products and solutions, and was successfully selected as Bloomberg Tier 1 energy storage manufacturers, ranking first in the world, and the technical strength and market potential of energy storage were continuously recognized by the market.
According to Longji Green Energy, 2026 is the beginning of the company's strategic transformation and upgrading, and the company will base itself on the iterative product matrix of in-depth scenario application, rely on strategic customer management and BC value marketing, and vigorously increase the proportion of overseas revenue. It plans to ship about 100 GW of silicon wafers and 80 GW of components throughout the year, of which BC components account for more than 65% . Overseas shipments account for more than 50%. The company will accelerate the integration of optical storage business, rely on the synergistic advantages of customers and scenarios, achieve large-scale sales of energy storage products, actively build the second curve of business growth, and lay the foundation for the company's long-term steady development. The shipment target of energy storage system in 2026 is 6G Wh .
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