LONGi Green Energy Technology (601012) Q1 2025 earnings summary

Executive summary

• Q1 2025 operating revenue was RMB 13.65 billion, down 22.75% year-over-year, with a net loss attributable to shareholders of RMB 1.44 billion, a significant reduction in losses compared to Q1 2024.

• Wafer shipments reached 23.46 GW and cell & module shipments were 16.93 GW, including 4.32 GW of BC modules.

• Enhanced inventory management, reduced expenses, and investment gains contributed to improved results.

Financial highlights

• Net loss attributable to shareholders narrowed by 38.89% year-over-year to RMB 1.44 billion.

• Operating revenue decreased by 22.75% year-over-year.

• Net cash outflow from operating activities improved by 64.26% to RMB -1.75 billion.

• Basic and diluted EPS were both RMB -0.19, compared to RMB -0.31 and -0.32 in Q1 2024.

• Total assets at quarter-end were RMB 149.04 billion, down 2.49% from year-end 2024.

Outlook and guidance

• Chairman Zhong Baoshen plans to increase his shareholding by at least RMB 100 million within 12 months from November 2024, with RMB 71.93 million already executed.