Longi Green Energy Technology Bundle
What is the history of Longi Green Energy Technology?
Founded on February 14, 2000, by Li Zhenguo, the company began in Xi'an, China, initially focusing on reprocessed silicon materials before shifting its core business to solar technology.
LONGi Green Energy Technology has consistently pushed the boundaries of photovoltaic innovation, particularly with its high-efficiency monocrystalline silicon products, setting new industry benchmarks.
What is Brief History of Longi Green Energy Technology Company?
The company, originally named Xi'an LONGi Silicon Materials Corporation, has grown to become a global leader in solar technology. In 2022, LONGi held over 30% of the global solar wafer market and shipped 37.5 GW of modules, solidifying its position as a top manufacturer. By 2024, total sales reached approximately RMB 150 billion (around $22.5 billion), with monocrystalline modules comprising over 80% of these sales. Despite facing projected losses of up to $1.2 billion in 2024 due to market oversupply and intense competition, LONGi remains dedicated to its mission of advancing solar energy and continues significant investment in technological development and global expansion. Investors may find the Longi Green Energy Technology BCG Matrix insightful for understanding its product portfolio.
What is the Longi Green Energy Technology Founding Story?
The journey of Longi Green Energy Technology Company began on February 14, 2000, when Li Zhenguo, alongside his university peers and wife Li Xiyan, established Xi'an LONGi Silicon Materials Corporation. Headquartered in Xi'an, Shaanxi, China, the company was built on Li Zhenguo's expertise in mono silicon technology.
The Genesis of a Solar Giant
Founded in 2000, Longi Green Energy Technology Company, initially known as Xi'an LONGi Silicon Materials Corporation, was the brainchild of Li Zhenguo and his university associates. Li Zhenguo, a recognized authority in mono silicon technology, steered the company from its early focus on silicon material reprocessing towards a pivotal role in the burgeoning solar energy sector.
- Founded on February 14, 2000, in Xi'an, China.
- Founder Li Zhenguo is an expert in mono silicon technology.
- Initial business focus was on reprocessed silicon materials.
- Transitioned to solar technology, becoming a key player in the industry.
- Li Zhenguo's 'Solar for Solar' concept highlights early sustainability commitment.
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What Drove the Early Growth of Longi Green Energy Technology?
The early history of Longi Green Energy Technology Company was characterized by a strong emphasis on monocrystalline silicon products. This focus laid the groundwork for its significant expansion in the solar industry.
IPO and Capital Infusion
The company's official listing on the Shanghai Stock Exchange in 2014 was a major milestone. This initial public offering raised approximately 3.6 billion RMB, providing crucial capital for R&D and production expansion.
Monocrystalline Leadership
By 2015, the company had established itself as the world's largest producer of monocrystalline solar cells, with a production capacity exceeding 5 GW. This early leadership in a key technology was vital for its growth.
Strategic Acquisition and Rebranding
The acquisition of LERRI Solar in 2014 was a pivotal move, expanding the company's operations into solar cells and modules. This led to a name change in 2017 to Longi Green Energy Technology Co., Ltd., reflecting its broadened manufacturing scope and its place in the Competitors Landscape of Longi Green Energy Technology.
Global Expansion and Revenue Growth
The establishment of its first overseas production base in Malaysia marked the beginning of its global expansion. By 2020, revenue reached 58.2 billion RMB, with a year-on-year growth rate exceeding 30%, showcasing its rapid development.
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What are the key Milestones in Longi Green Energy Technology history?
The Longi Green Energy Technology Company has a rich history marked by significant advancements and strategic growth within the solar industry. From its inception, the company has focused on innovation and efficiency, establishing itself as a key player. This journey has seen the company navigate both remarkable successes and considerable industry-wide challenges, shaping its current position. The Growth Strategy of Longi Green Energy Technology highlights its adaptive approach.
| Year | Milestone |
|---|---|
| 2018 | Achieved a solar cell efficiency of 24.06% with PERC technology, setting a new industry record. |
| 2023 | Monocrystalline solar cells boasted an efficiency rate of 26.81%. |
| 2024 | Achieved a conversion efficiency of 25.4% for its HPBC 2.0 module, a new world record for crystalline silicon solar module efficiency. |
| June 2025 | Unveiled a large-area crystalline silicon-perovskite two-terminal tandem solar cell reaching 33% conversion efficiency and its back-contact (BC) module surpassing the 26% efficiency threshold. |
The company's commitment to innovation is evident in its continuous pursuit of higher solar cell efficiencies and the development of advanced technologies. This dedication has led to groundbreaking achievements that push the boundaries of photovoltaic performance.
PERC Technology Advancement
The development and implementation of Passivated Emitter and Rear Cell (PERC) technology significantly boosted solar cell efficiency, with a record of 24.06% achieved in 2018.
Record-Breaking Efficiencies
Consistently breaking efficiency records, the company's monocrystalline solar cells reached 26.81% efficiency by 2023, and its HPBC 2.0 module achieved 25.4% in 2024.
Tandem Cell Breakthrough
In June 2025, a significant leap was made with a crystalline silicon-perovskite tandem solar cell achieving a 33% conversion efficiency.
Back-Contact Module Innovation
The company's back-contact (BC) module technology surpassed the 26% efficiency threshold, demonstrating advanced module design capabilities.
Intellectual Property Portfolio
A robust intellectual property portfolio, including over 400 patents specifically for BC cells and modules, underscores the company's innovative drive.
Despite its technological achievements, the company has faced significant headwinds from industry overcapacity and intense price competition. These market dynamics have impacted financial performance, leading to projected losses in 2024.
Industry Overcapacity
The solar manufacturing sector, particularly in China, has experienced substantial overcapacity, driving down prices and intensifying competition.
Financial Performance Impact
Projected losses between 8.2 billion and 8.8 billion yuan for 2024 mark a significant downturn from the 10.8 billion yuan net income in 2023, reflecting the challenging market conditions.
Internal Management Factors
Underperformance of new products and less-than-optimal business management decisions have also contributed to the company's difficulties.
Cost Control Measures
Stringent cost-control measures have been implemented, including a 34.70% year-on-year reduction in management expenses for the first three quarters of 2024.
Strategic Shift
A strategic pivot towards an asset-light model, focusing on technology licensing, aims to increase market share and avoid the pitfalls of rapid, unmanaged expansion.
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What is the Timeline of Key Events for Longi Green Energy Technology?
The Longi Green Energy Technology Company history is a testament to rapid growth and innovation in the solar industry. From its founding in 2000 as Xi'an LONGi Silicon Materials Corporation, the company has consistently pushed boundaries, evolving from a silicon materials supplier to a global leader in photovoltaic products. This journey is marked by strategic acquisitions, significant capacity expansions, and a relentless pursuit of technological advancement, solidifying its position in the renewable energy sector.
| Year | Key Event |
|---|---|
| 2000 | Founded as Xi'an LONGi Silicon Materials Corporation by Li Zhenguo in Xi'an, China. |
| 2014 | Completed its Initial Public Offering (IPO) on the Shenzhen Stock Exchange, raising approximately 3.6 billion RMB. |
| 2014 | Acquired LERRI Solar, broadening its manufacturing capabilities to include solar cells and modules. |
| 2015 | Surpassed 5 GW in production capacity, becoming the world's largest producer of monocrystalline solar cells. |
| 2017 | Rebranded to LONGi Green Energy Technology Co., Ltd., reflecting its expanded focus. |
| 2018 | Achieved a solar cell efficiency of 24.06% using PERC technology and introduced the 'Solar for Solar' concept. |
| 2020 | Recorded annual revenue of 58.2 billion RMB and became the first manufacturer to ship over 20 GW of modules in a single year. |
| 2021 | Announced a $1 billion investment to expand its production facilities in Malaysia. |
| 2022 | Reported total revenue of approximately CNY 111.98 billion, equivalent to around $16 billion USD. |
| 2023 | Generated a revenue of RMB 81 billion, approximately $11.2 billion USD. |
| 2024 | Projected significant losses, potentially up to $1.2 billion, due to industry overcapacity and intense competition, while also achieving a new world record for HPBC 2.0 module efficiency at 25.4%. |
| 2025 | Q1 revenue reached CNY 13.652 billion, with plans to ship 120 GW of silicon wafers and 80-90 GW of PV modules, expecting BC modules to constitute over 25% of total shipments. The company aims for HPBC 2.0 cell and module capacity to reach 50 GW each by year-end. |
Technological Advancement and Efficiency Gains
LONGi is committed to advancing solar technology, particularly focusing on Back Contact (BC) technology. The company targets BC cell efficiencies up to 28.5% and module efficiencies exceeding 26% within the next three to five years.
Sustainable Energy Solutions and Global Impact
The company plans to integrate solar power plants with pumped storage and offers 'Green Power + Green Hydrogen' solutions for global zero-carbon development. LONGi aims for operational carbon neutrality by 2025.
Navigating Market Challenges and Future Growth
Despite challenges in 2024, LONGi anticipates industry improvements by 2025, with module prices expected to stabilize. The company plans to invest over ¥40 billion in capacity expansion over the next five years, aiming for 100 GW annual production of photovoltaic products by the end of 2025.
Strategic Expansion and Market Leadership
LONGi's long-term strategy includes expanding manufacturing plants and upgrading facilities to boost efficiency. This expansion is crucial for maintaining its global leadership and supporting its vision for a greener world, building on its early history and understanding of the Target Market of Longi Green Energy Technology.
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