【Longi Green Energy: Expected Net Loss of 4.8 to 5.5 Billion Yuan in the First Half of 2024】

Longi Green Energy announced that the company expects to achieve a net loss attributable to shareholders of the listed company of 4.8 billion yuan to 5.5 billion yuan in the first half of 2024, with a net loss after deducting non-recurring gains and losses ranging from 4.839 billion yuan to 5.539 billion yuan. The net profit for the same period last year was 9.178 billion yuan. The main reason for the loss is the mismatch between supply and demand in the photovoltaic industry and a significant drop in market sales prices. It is estimated that the inventory impairment amount will be 4.5 billion yuan to 4.8 billion yuan. The company will accelerate the mass supply of its new product, Hi-M09, to enhance its long-term competitiveness.