LONGi Solar announced on Monday that it had signed an agreement to invest approximately RMB 3.5 billion yuan in the construction of a 12 GW mono solar cell manufacturing facility in Tongchuan, Shaanxi Province of China.
The agreement was signed with the government of Tongchuan city and the administrative committee of the Tongchuan New Material Industrial Park on April 8.
The facility is expected to begin operations in late 2024 and reach its designed production capacity by the end of the same year.
On the same day, LONGi Solar released a performance report indicating that the company earned RMB 128.99 billion yuan in operating revenue in 2022, a 60.03% increase from the previous year. The net income attributable to shareholders of the listed company was RMB 14.78 billion yuan, reflecting a 62.66% increase.
LONGi stated that, amidst materials shortages and surging prices in the past year, the company adjusted its strategies and responded to market changes in a timely manner. The company’s production capacity of wafers, cells, and modules has continued to increase, as has the sales volume of its wafers and modules.
Meanwhile, LONGi emphasized that the financial data disclosed in the announcement are preliminary and have not been audited by an accounting firm. The data disclosed in the company’s 2022 annual report shall prevail.
