LONGi market cap is ¥328.6 b, and annual revenue was ¥32.9 b in FY 2019

LONGi Gross profit (H1, 2020)5.9 B

LONGi Gross profit margin (H1, 2020), %29.2%

LONGi Net income (H1, 2020)4.2 B

LONGi EBIT (H1, 2020)4.9 B

LONGi Cash, 30-Jun-202018.7 B

LONGi EV323.8 B

LONGi revenue was ¥32.9 b in FY, 2019 which is a 49.6% year over year increase from the previous period.

LONGi revenue breakdown by business segment: 8.6% from Power Project Construction and Service, 39.3% from Wafers, 44.3% from Solar Modules and 7.9% from Other

LONGi revenue breakdown by geographic segment: 14.5% from Europe, 13.8% from America, 9.9% from Asian-Pacific, 61.6% from China and 0.1% from Other

CNY | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Revenue | 16.4b | 22.0b | 32.9b |

| 34% | 50% | |

## Cost of goods sold | 11.1b | 17.1b | 23.4b |

## Gross profit | 5.3b | 4.9b | 9.5b |

| 32% | 22% | 29% |

## Sales and marketing expense | 664.3m | 1.0b | 1.3b |

## R&D expense | 201.8m | 304.2m | |

## General and administrative expense | 664.4m | 1.0b | 971.0m |

## Operating expense total | 1.3b | 2.0b | 3.2b |

## EBIT | 4.0b | 2.9b | 6.3b |

| 24% | 13% | 19% |

## Interest expense | 270.0m | 408.9m | 458.4m |

## Interest income | 75.7m | 128.6m | 232.9m |

## Investment income | 581.6m | 61.9m | 240.0m |

## Pre tax profit | 4.0b | 2.9b | 6.2b |

## Income tax expense | 468.3m | 300.8m | 689.8m |

## Net Income | 3.5b | 2.6b | 5.6b |

## EPS | 1.8 | 0.9 | 1.5 |

CNY | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|

## Revenue | 10.0b | 14.1b | 20.1b |

## Cost of goods sold | 7.7b | 10.4b | 14.3b |

## Gross profit | 2.3b | 3.7b | 5.9b |

| 23% | 26% | 29% |

## Sales and marketing expense | 456.9m | 546.4m | 330.1m |

## R&D expense | 117.0m | 585.9m | |

## General and administrative expense | 351.8m | 399.2m | 186.3m |

## Operating expense total | 806.0m | 2.6b | 1.0b |

## EBIT | 1.5b | 2.4b | 4.9b |

| 15% | 17% | 24% |

## Interest expense | 191.3m | 273.3m | 163.2m |

## Interest income | 107.0m | 112.6m | 149.2m |

## Investment income | 318.2m | 145.1m | 541.6m |

## Pre tax profit | 1.5b | 2.4b | 4.8b |

## Income tax expense | 153.0m | 280.4m | 601.1m |

## Net Income | 1.3b | 2.1b | 4.2b |

## EPS | 0.5 | 0.6 | 1.1 |

CNY | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Cash | 8.5b | 7.7b | 19.3b |

## Accounts Receivable | 3.9b | 4.4b | 3.8b |

## Prepaid Expenses | 443.7m | 608.7m | 1.0b |

## Inventories | 2.4b | 4.3b | 6.4b |

## Current Assets | 22.9b | 18.9b | 37.4b |

## PP&E | 10.8b | 13.3b | 15.5b |

## Goodwill | 11.0m | 11.0m | 11.0m |

## Total Assets | 39.7b | 32.9b | 59.3b |

## Accounts Payable | 3.5b | 3.8b | 5.6b |

## Short-term debt | 5.4b | 5.4b | 9.0b |

## Current Liabilities | 12.3b | 14.9b | 24.6b |

## Long-term debt | 4.8b | 5.9b | 3.5b |

## Non-Current Liabilities | 6.3b | 8.0b | 6.4b |

## Total Debt | 10.2b | 11.3b | 12.5b |

## Total Liabilities | 18.6b | 22.8b | 31.0b |

## Common Stock | 2.0b | 2.8b | 3.8b |

## Additional Paid-in Capital | 5.4b | 4.6b | 10.4b |

## Total Equity | 14.2b | 16.8b | 28.3b |

## Debt to Equity Ratio | 0.7 x | 0.7 x | 0.4 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.2 x |

## Financial Leverage | 2.8 x | 2 x | 2.1 x |

CNY | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|

## Cash | 7.0b | 14.5b | 18.7b |

## Accounts Receivable | 4.5b | 4.8b | 6.0b |

## Prepaid Expenses | 1.3b | 1.2b | 1.2b |

## Inventories | 4.6b | 5.5b | 8.6b |

## Current Assets | 21.2b | 33.4b | 42.9b |

## PP&E | 12.7b | 13.9b | 18.1b |

## Goodwill | 11.0m | 11.0m | 11.0m |

## Total Assets | 37.9b | 51.6b | 68.0b |

## Accounts Payable | 4.6b | 3.9b | 6.9b |

## Short-term debt | 6.7b | 9.1b | 11.6b |

## Current Liabilities | 15.8b | 20.6b | 31.3b |

## Long-term debt | 3.2b | 5.9b | 2.2b |

## Non-Current Liabilities | 6.8b | 8.6b | 4.9b |

## Total Debt | 9.9b | 15.0b | 13.9b |

## Total Liabilities | 22.6b | 29.2b | 36.2b |

## Common Stock | 2.8b | 3.6b | 3.8b |

## Additional Paid-in Capital | 4.6b | 7.6b | 10.4b |

## Total Equity | 15.3b | 22.4b | 31.8b |

## Debt to Equity Ratio | 0.6 x | 0.7 x | 0.4 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.2 x |

## Financial Leverage | 2.5 x | 2.3 x | 2.1 x |

CNY | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Accounts Receivable | 10.9b | 17.9b | 26.5b |

## Accounts Payable | 6.9b | 14.4b | 15.5b |

## Cash From Operating Activities | 1.2b | 1.2b | 8.2b |

## Purchases of PP&E | (3.9b) | (3.8b) | (2.7b) |

## Cash From Investing Activities | (3.8b) | (3.2b) | (2.8b) |

## Long-term Borrowings | (1.5b) | (1.8b) | (2.9b) |

## Dividends Paid | (430.8m) | (669.5m) | (720.7m) |

## Cash From Financing Activities | 4.8b | 267.5m | 4.6b |

## Net Change in Cash | 2.2b | (1.7b) | 9.9b |

CNY | H1, 2018 | H1, 2020 | H1, 2019 |
---|---|---|---|

## Accounts Receivable | 8.4b | 9.7b | 12.0b |

## Accounts Payable | 6.0b | 6.1b | 9.5b |

## Cash From Operating Activities | 1.2b | 2.4b | 338.8m |

## Purchases of PP&E | (2.7b) | (773.6m) | (1.9b) |

## Cash From Investing Activities | (2.5b) | (1.5b) | (1.5b) |

## Long-term Borrowings | (2.2b) | (1.3b) | (361.8m) |

## Dividends Paid | (526.4m) | (560.5m) | (971.0m) |

## Cash From Financing Activities | (1.1b) | 4.6b | 432.9m |

## Net Change in Cash | (2.3b) | 5.6b | (703.3m) |

CNY | FY, 2017 |
---|---|

## Revenue/Employee | 924.3k |

## Debt/Equity | 0.7 x |

## Debt/Assets | 0.3 x |

## Financial Leverage | 2.8 x |

FY, 2017 | FY, 2018 | FY, 2019 | |
---|---|---|---|

## Patents Issued | 260 | 526 | 702 |

## Modules Produced, MW | 8.91 k | ||

## Modules Sold (Overseas), MW | 1.96 k | 4.99 k | |

## Modules Sold, MW | 7.39 k | ||

## Mono Cells Sold (Overseas), MW | 252 | 491 | 715 |

## Mono Cells and Modules Shipped, MW | 4.7 k | 7.07 k | |

## Mono Cells and Modules Sold, MW | 3.51 k | 6.48 k | |

## Mono Modules Produced, MW | 4.53 k | 7.28 k | |

## Mono Modules Sold (Overseas), MW | 3.51 k | 5.99 k | 7.39 k |

## Mono Modules Sold, MW | 3.51 k | 5.99 k | |

## Mono Wafers Produced, pieces | 3.64 b | ||

## Mono Wafers Shipped, pieces | 3.38 b | ||

## Mono Wafers Sold (Overseas), pieces | 1.13 b | 1.97 b | 4.7 b |

## Solar Grade Wafers Produced, pieces | 2.21 b | 3.64 b | |

## Solar Grade Wafers Sold, pieces | 1.13 b | ||

## Solar Mono Wafers Sold, pieces | 1.97 b | ||

## Wafers Produced, pieces | 2.2 b | 6.48 b | |

## Wafers Sold (Overseas), pieces | 1.13 b | ||

## Wafers Sold, pieces | 1.13 b | 4.7 b |

Y, 2019 | Y, 2018 | Y, 2017 | |
---|---|---|---|

Production | 74.3% | 73.7% | 74.4% |

Technical Staff | 12.2% | 11.4% | 9.5% |

General and Administrative | 11.4% | 11.9% | 12.7% |

Other | 2.1% | 3% | 3.5% |