On June 3, LONGi Green Energy released its investor relations activity record. Company directors including then-General Manager Li Zhenguo, CFO Liu Xuewen, and Independent Director Lu Yi participated in the meeting, addressing topics such as market deployment, HPBC 2.0 technology progress, and capacity planning.
In the Q&A session, LONGi disclosed that China accounted for approximately 55% of its 2024 module sales, with overseas markets mainly concentrated in Asia (21%) and Europe (16%). Regarding the recent decline in PV product prices since May, the company believes prices are now approaching a previous low and are expected to stabilize in the short term as production across the supply chain is curtailed.
LONGi emphasized its strict adherence to a build-to-order model, adjusting production schedules based on market demand and orders, with inventories kept under control. On the technology and capacity front, the company noted that current HPBC 2.0 module production costs are slightly higher than those of TOPCon products, but it expects cost parity by the end of 2025.
Among the newly added HPBC 2.0 cell production capacity this year, about 50% comes from the upgrade of original HPBC 1.0 and PERC cell production lines. By the end of 2025, the company aims to reach 50 GW of HPBC 2.0 cell and module capacity. Notably, over 50% of cumulative HPBC 2.0 module orders to date come from overseas customers.
Regarding recent policy changes in the U.S. market, LONGi stated that it has not lowered its shipment target for the U.S. this year. The company reported that its 5 GW joint venture module plant in the U.S. has reached full production, and that Malaysia's anti-dumping tariffs are lower than those in other Southeast Asian markets, allowing continued cell exports to the U.S.
On the same day, fellow PV module leader Trina Solar also released its investor relations activity record, disclosing module shipments of over 70 GW for 2024 and setting a 2025 shipment target of 70–75 GW. Trina noted that its current capacity layout is sufficient to meet the full-year shipment plan for 2025, and thus has no new capacity investment projects planned at this time.
In the energy storage sector, Trina shipped 4.3 GWh in 2024, with nearly 1.8 GWh shipped in Q4 alone. Overseas shipments continued to rise during the quarter, especially in Europe, contributing to ongoing loss reduction.
Looking ahead, the company plans to achieve over 100% year-on-year growth in shipments and revenue in 2025, targeting full-year shipments of 8–10 GWh. It will focus on major clients and PV-plus-storage customers in overseas markets. Signed overseas orders have already exceeded 5 GWh, indicating a several-fold increase compared to 2024 overseas shipments.
Source：https://mp.weixin.qq.com/s/ihA5x5Wjg8Lm93ehmGi6kQ
