LONGi and JA Solar have recorded losses in the first quarter of the year due to ongoing pricing pressures. Image: JinkoSolar.
The recent quarterly reports from China’s big-five module producers highlight the challenges PV manufacturers face in maintaining profitability due to ongoing pricing pressures in the industry.
The 2023 annual report and the first quarter of 2024 performance report of LONGi Green Energy revealed that the company achieved an operating income of RMB17.674 billion (US$2.4 billion) in Q1 2024, down 37.59% year-on-year. Its net profit was a loss of RMB2.35 billion, compared with a net profit of RMB3.637 billion in the same period last year.
(The above content is reproduced from pv-tech，By Carrie Xiao）
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