On the evening of July 14th, Longi Green Energy (601012) released its semi annual performance forecast for 2026. The company expects to achieve a net profit loss attributable to shareholders of the listed company of RMB 3.4 billion to RMB 3.8 billion in the first half of the year, but has already achieved a month on month reduction in losses compared to before.

Against the backdrop of the current deep adjustment cycle in the photovoltaic industry, this performance forecast reflects not only that the industry has not yet emerged from the trough, but also that leading enterprises are accumulating strength for the next round of growth through multiple measures such as technological innovation, product upgrades, global layout, and integration of light and energy storage.

In the face of industry operational difficulties, Longi Green Energy vigorously promotes the comprehensive BCization of its photovoltaic business, continuously enriches the scene product matrix, significantly increases overseas market sales and the proportion of BC product sales, continues to implement BC technology efficiency improvement and cost reduction measures, and achieves large-scale production of ACM (nano alloy matrix contact) batteries. At the same time, LONGi Green Energy is accelerating the layout of photovoltaic and energy storage collaboration, launching the "LONGi ONE" full scene photovoltaic and energy storage integrated product covering large power stations to industrial and commercial parks, rapidly building localization capabilities in overseas markets, and enhancing system solution capabilities and competitive advantages.

The industry is still in a downturn, and the month on month loss reduction sends a positive signal

Regarding performance changes, Longi Green Energy stated that the supply and demand relationship in the photovoltaic industry has not significantly improved, and the company's operations continue to be under pressure. Affected by multiple factors such as insufficient consumption of new energy and the rush to install a high base in the same period last year, the newly added photovoltaic capacity in China fell sharply in the first half of the year.

In fact, this is not a problem faced by a single enterprise like Longi, but a cyclical challenge experienced by the entire photovoltaic industry. In the past few years, the industry has experienced rapid expansion, and the mismatch between supply and demand has led to a continuous decline in prices. Profits in all aspects, from silicon materials, battery cells to components, have been significantly squeezed.

However, compared to the market's focus on loss figures, what is more noteworthy is the change of "month on month loss reduction". This means that the quality of Longi Green Energy's operations is gradually improving, and signals of repair have begun to be released during the most difficult stage of the industry.

For a company that insists on long-term R&D investment and technology driven development, short-term profit pressure reflects more on the industry cycle rather than the weakening of competitiveness. What truly determines the future industry landscape is still who can take the lead in completing technological upgrades, product iterations, and business model transformations.

Against the backdrop of a temporary slowdown in the domestic market, overseas markets are becoming a new growth engine for Longi.

In recent years, emerging markets such as the Middle East, Africa, and Latin America have seen sustained growth in demand due to multiple factors such as energy transition, power shortages, and advantages in light resources.

Longi continues to promote localized business strategies and launch tailored products and services for different regions. Taking the Latin American market as an example, Longi has sunk through channels and achieved a rapid breakthrough by increasing component sales by 54% year-on-year in 2025.

At the same time, Longi is establishing more comprehensive local pre-sales and after-sales teams in mature markets such as Europe, North America, and Australia, and developing adapted products for the US market, continuously improving its global market layout. Compared to relying on a single regional demand, a global layout can effectively smooth out fluctuations in different market cycles and help enhance the overall business resilience of enterprises.

Crossing cycles, competing for long-term abilities

Looking at the semi annual report forecast of Longi, it can be seen that short-term performance is still affected by industry cycles, but Longi Green Energy has not slowed down its strategic investment due to market downturn.

On the contrary, whether it is the continuous breaking of world records in research and development capabilities, the comprehensive promotion of BC industrialization, or the layout of the global market and the creation of a photovoltaic energy integration ecosystem, all reflect Longi Green Energy's long-term development philosophy.

The development history of the photovoltaic industry has proven that every industry adjustment often leaves behind not the enterprise with the lowest price, but the enterprise with the strongest technology, the most sustainable innovation ability, and the most complete global layout.

With the continuous increase in the proportion of new energy installed capacity and the continuous release of energy storage demand, the integration of light and storage will also become an important development direction for the industry in the future. While the industry is still waiting for demand to recover, Longi Green Energy has already begun sowing new seeds for the next round of industrial upgrading.

Short term performance may still be affected by industry fluctuations, but from the large-scale implementation of BC technology, to the opening of the second growth curve through the integration of light and storage, and to the continuous expansion of the global market, Longi is using technological innovation and long-term investment to accumulate deeper competitive advantages for future development.

Compared to traditional photovoltaic business, energy storage has become an important component of Longi's future strategy.

In April of this year, LONGi officially released the "Full Stack LONGi ONE" optical storage integration strategy; During the SNEC period, Hi MO One industrial and commercial optical storage integrated machine was launched, further extending the collaboration of optical storage to the end of the distribution network.

Unlike traditional energy storage products, Hi MO One adopts a full stack self-developed architecture to achieve integrated collaboration of photovoltaic modules, energy storage systems, software platforms, control systems, and operation and maintenance systems.

As of now, Longi Energy Storage has delivered over 13GWh, maintaining a record of zero thermal runaway.

Longi has made it clear that it will not enter the field of battery cell manufacturing, but will focus on system integration and overall solutions, cooperate with excellent battery cell companies, and jointly define the technological direction.

This positioning enables Longi to fully utilize its customer resources, brand influence, and channel system accumulated over the years in the photovoltaic field, and upgrade from a "photovoltaic product provider" to a "photovoltaic storage integration system solution service provider", and then to a "green energy comprehensive solution service provider".

According to the plan, by 2026, Longi's energy storage system shipment target will reach 6GWh, and key markets such as China, Europe, Australia, and the United States are rapidly advancing.

The release of 'Technology Forest' redefines the logic of photovoltaic competition

On the day of the release of its performance forecast, LONGi Green Energy held the 2026 Optical Storage Innovation Technology Conference at Shanghai Jiao Tong University, officially proposing the concept of "Technology Forest" and releasing multiple underlying technological achievements such as ACM technology, integrated conductive backplate technology, laminated technology, hidden bus bar technology, intelligent components, LONGi One OS, etc. At the same time, it announced that the conversion efficiency of crystalline silicon perovskite stacked solar cells had been improved to 35.5%, once again breaking the world record.

Compared to upgrading a single product, 'technology forest' emphasizes a systematic technology ecosystem. The "technology forest" proposed this time is to some extent a redefinition of Longi's future competitive logic - what can truly cross the cycle is not a single technology, but a system capability that continuously nurtures innovation and iteratively upgrades.

From ACM technology that reduces silver consumption to integrated conductive backplates that reconstruct component structures; From the stacked technology that improves component efficiency to LONGi One OS that enables intelligent optical storage systems, these technologies do not exist in isolation, but work together to support future product competitiveness.

This also means that while the industry is still struggling with price competition, Longi Green Energy has shifted the focus of competition back to technological innovation.

For the photovoltaic industry, every technological upgrade means a reshaping of the industry's competitive landscape. Both RCZ single crystal technology and diamond wire cutting have propelled the industry into a new stage of development. The series of underlying technologies released this time are also considered by the industry to have similar industrial significance.

The products that everyone can buy today are those that we conducted mass testing two or three years ago; the technologies we hear today were initiated five to ten years ago; and the unnamed technologies in the Longi laboratory are preparing for the next five or ten years. "As Li Zhenguo said, the significance of the" technology forest "lies not only in the current fruits, but also in the ability to continue growing.

Since its establishment, Longi has gone through 26 years. 26 years ago, China's photovoltaic industry was still in its infancy; 26 years later, Chinese photovoltaics have become indispensable to the world. Behind this is the result of generations of photovoltaics people running with technological faith. This press conference is not only a response to the times submitted by LONGi, but also a firm and clear technical declaration from China's photovoltaic industry to the global energy transformation.

The industry cycle fluctuates, but the tree of technology remains evergreen. When Longji's "technology forest" is deeply rooted and constantly proliferates, Chinese photovoltaics have the strongest confidence - not to roll away opponents, but to redefine rules.