Longi reports first loss since listing amid industry downturn

Longi Green Energy Technology (SSE: 601012) reported a net loss of CNY8.618 billion for 2024, a sharp reversal from a CNY10.751 billion profit in the previous year, marking its first loss since listing. Revenues also declined significantly by 36.23% to CNY82.582 billion, attributed to a severe mismatch between supply and demand, alongside intensified market competition. Basic earnings per share stood at negative CNY1.14.