On the afternoon of May 6, Longji (601012) held the 2018 annual online performance briefing. The company's chairman Zhong Baoshen, general manager Li Zhenguo, and Dong Xiaozhu Liu Xiaodong explained the performance of the company in 2018 and communicated with investors.
Regarding the strategic development of the company proposed by the company, Chairman of the Board Zhong Baoshen said that Longji has insisted on “continuously reducing the cost of electricity†as the core of the strategic development of the company for many years, while tracking the development direction and progress of different technologies in the industry. Steady operation without the principle of “not leading the market without expansionâ€. He pointed out that the current market direction of single crystal is relatively certain, and the market share is also steadily increasing. In 2018, the global single crystal accounted for 46%, and the Chinese market exceeded 50%. Longji's monocrystalline silicon wafers have a clear market share, accounting for approximately 40-45% of the world's single crystals.
For investors, the company pointed out that the company's capacity planning in the next three years is large, and the company's growth problems accompany the price impact, Zhong Baoshen said that the development of the photovoltaic industry has been aimed at continuously reducing the cost of electricity and striving to expand the scope of affordable Internet access. Even as product prices continue to fall, the company's increasing capacity and shipments can slow down the impact of price declines on revenue. At the same time, all aspects of the industry are also reducing costs through technological advancement to maintain a reasonable level of gross profit margin. At the same time, Zhong Baoshen pointed out that the company believes that with the popularity of photovoltaics, the global market demand will continue to grow.
Longji shares focus on the development, production and sales of monocrystalline silicon rods and wafers. After more than ten years of development, it has become the world's leading manufacturer of solar monocrystalline silicon photovoltaic products. In 2018, the company achieved operating income of 21.988 billion yuan, a year-on-year increase of 34.38%; net profit attributable to the parent company was 2.558 billion yuan, a year-on-year decrease of 28.24%. In the first quarter of 2019, the company achieved operating income of 5.71 billion yuan, a year-on-year increase of 64.56%, and realized a net profit attributable to the parent company of 611 million yuan, a year-on-year increase of 12.54%.
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