In the H1 of 2022, LONGi’s operating performance increased steadily, achieving a consolidated operating revenue of 50.417 billion yuan, a year-on-year increase of 43.64%. The net profit attributable to the shareholders of the listed company was 6.481 billion yuan, up 29.79% year on year, among which the net profit attributable to the shareholders of the listed company excluding non-recurring gains and losses was 6.405 billion yuan, up 30.58% year on year, and the basic earnings per share came in at 0.86 yuan, up 30.3% year on year.

Strengthened product competitiveness and rapid growth in overseas revenue

In the H1 of 2022, LONGi achieved the shipment of 39.62GW of monocrystalline silicon wafers, of which 20.15GW was sold externally and 19.47GW for internal use. The shipments of monocrystalline modules reached 18.02GW, of which 17.70GW was sold externally (including 87.35MW of BIPV modules) and 0.32GW for internal use. Although the U.S. market is impacted by the WRO (Withhold and Release Order) and the increased warehouse cost, the company timely adjusted its operating strategy, shifting the focus of sales to other key markets such as Europe. With quality product service, brand awareness and channel layout of long-term accumulation, LONGi has maintained good competitiveness and its overseas business is also developing rapidly.

Data show that in the past three years (2019-2021), the overseas revenue of LONGi accounted for 38.38%, 39.32% and 46.89% respectively, and the overseas market has become an important sales ground for the company. This year, the European Commission formally launched the "RE Power EU" plan, which aims to increase the share of renewable energy in the energy structure from 40% to 45% by 2030, double the installed solar photovoltaic capacity to more than 320GW by 2025 and close to 600GW by 2030. Meanwhile, the Indian market imported almost as many modules in the first quarter alone as it did throughout the entirety of 2021.

Rising operating cash flow and better sustainability

LONGi's operating activities generated a net cash flow of 10,698 billion yuan, an increase of 1162.43% over the same period, as a result of the expansion of the market scale, the improvement in performance, and the rise in the settlement of notes payable. Meanwhile, the company's asset-liability ratio stands at 57.91%, and its asset-liability ratio is always below 60%. LONGi's ability to recover funds and repay debt bolsters the company's capacity to finance production expansion and withstand cyclical risks. Since last year, the price of upstream raw materials has been rising continuously. Under the strain of upstream costs, LONGi has taken the initiative to lock long-term orders with strategic customers so as to guarantee the benefits and value for customers. The company has accelerated upgrading and intelligent manufacturing capacity, constantly improved production efficiency and intelligent manufacturing level, and reduced operating costs. In the H1 of 2022, the company's comprehensive gross profit margin was 17.61%, and the weighted average return on equity was 12.64%.

On April 24, LONGi officially released the "Supply Chain Green Partner Empowerment Plan" at the company’s 2022 supplier conference. This conference aims to encourage suppliers to initiate energy conservation and emission reduction actions through carbon management empowerment training. In June 2022, LONGi launched the industry’s first “Sustainability Week” to promote the green and low-carbon development philosophy. During this Sustainability Week, LONGi virtually released its 2021 Sustainability Report worldwide, highlighting the company’s achievements in responding to climate change, pursuing environmental friendliness, and contributing to a zero-carbon future.

Just a day before the reporting period, Fortune released the “2022 China ESG Influence List”, and Forbes China also released the “2022 China ESG 50 list”. LONGi has grabbed the top position in both lists, thanks to its consistent efforts and outstanding performance in the field of Environmental, Social and Governance (ESG).

Environmental, Social and Governance (ESG), as a framework system and business philosophy that comprehensively focuses on enterprise environment, society and governance performance, is regarded as a new path for human beings to achieve sustainable development. This business value concept conforms to the social development trend and is rapidly becoming an important criterion for determining whether an enterprise has sufficient social responsibility and capacity for sustainable development.

Driving industry innovation with increased R&D spending

According to the report, LONGi has developed and reserved a variety of new high-efficiency cell and module technologies, seeking breakthroughs in various technologies such as n-type TOPCon, p-type TOPCon, n-type HJT and p-type HJT, and the company also creatively developed the HPBC (Hybrid Passivated Back Contact) cell, continue to promote the mass production and transformation of new high-efficiency cell and modules. On June 23, LONGi announced a new world record conversion efficiency of 26.5% for its silicon heterojunction (HJT) photovoltaic cells. The new record, validated in testing carried out by the Institute for Solar Energy Research (ISFH) in Hamelin, Germany, was achieved on M6 (274.4cm2) full-size monocrystalline silicon wafers, marking a new breakthrough in efficiency for large-size monocrystalline silicon photovoltaic cells.

In regards to the performance requirements of silicon wafers required by the new photovoltaic cell technology, the company has realized the compatible production of raw materials, equipment, auxiliary materials and other links, thereby ensuring sufficient technical reserves and mass production guarantee for the supply of silicon wafers for the new photovoltaic cell technology.

On July 25, 2022, LONGi’s Central R&D Institute officially kicked off operations at its global headquarters. LONGi Central R&D Institute is a world-class facility for the company to carry out research and development in the photovoltaic industry. The significance of the company's R&D project lies in its ability to attract top-tier scientific research talent, advance the transformation and application of scientific research achievements, and accelerate the expansion of the green energy industry.

The company believes that LONGi Central R&D Institute will attract more than 4000 high-end scientific research talents, with more than 85% of the employees holding a master's degree or a doctorate, and around 20 percent of the personnel being top researchers in the field of new energy.

As of H1 2022, LONGi has secured 1,808 authorized patents of various types, and invested 3.670 billion yuan in research and development, accounting for 7.28% of the operating revenue. During the reporting period, the impairment loss of fixed assets was 472 million yuan, maintaining the industry-leading quality of the company's equipment and assets.

Global market potential promotes continuous expansion and layout

According to a recent report by the International Energy Agency (IEA), the global manufacturing capacity for solar photovoltaic panels has increasingly shifted from Europe, Japan and the United States over the last decade, and moved into China, with China taking the lead in investment and technology innovation.

This year, LONGi has brought the entire industry chain to Inner Mongolia for the first time. The 46GW monocrystalline silicon ingot and wafer project, 30GW monocrystalline high-efficiency photovoltaic cell project and 5GW photovoltaic module project all started their construction in the Zero-carbon Industrial Park in the Ordos.

In addition, 15GW monocrystalline high-efficiency photovoltaic cell project in Shaanxi’s Xixian New Area, the 5GW high-efficiency photovoltaic cell project in Ningxia, the 4GW high-efficiency photovoltaic cell project in Taizhou, the 10GW photovoltaic module project in Jiaxing, the 10GW photovoltaic module project in Wuhu and other projects are either under construction or in the preparation phase.

2022年上半年，隆基经营业绩稳步增长，实现合并营业收入504.17亿元，同比增长43.64%。实现归属于上市公司股东的净利润64.81亿元，同比增长29.79%。其中，归属于上市公司股东的扣除非经常性损益的净利润64.05亿元，同比增长30.58%，基本每股收益0.86元，同比增长30.3%。

产品竞争力增强，海外收入快速增长

2022年上半年，隆基实现单晶硅片出货量39.62GW，其中外部销售20.15GW，内部使用19.47GW。单晶组件出货量达到18.02GW，其中外部销售17.70GW（含BIPV组件87.35MW），内部使用0.32GW。虽然美国市场受到WRO（预扣令）和仓储成本增加的影响，但公司及时调整了经营策略，将销售重心转移到欧洲等其他重点市场。凭借长期积累的优质产品服务、品牌知名度和渠道布局，隆基一直保持着良好的竞争力，海外业务也在快速发展。

数据显示，近三年（2019-2021年），隆基股份海外收入占比分别为38.38%、39.32%、46.89%，海外市场已成为公司重要的销售地。今年，欧盟委员会正式推出了“欧盟可再生能源”计划，该计划旨在到2030年将可再生能源在能源结构中的份额从40%提高到45%，到2025年将太阳能光伏装机容量翻一番，达到320GW以上，到2030年接近600GW。与此同时，印度市场仅在第一季度就进口了几乎与整个2021年一样多的组件。

经营性现金流上升，可持续性较好

受市场规模扩大、业绩改善、应付票据结算上升等因素影响，隆基股份经营活动产生现金流量净额106.98亿元，同比增长1162.43%。同时，公司资产负债率为57.91%，资产负债率始终低于60%。隆基回收资金和偿还债务的能力增强了该公司为扩张融资和抵御周期性风险的能力。去年以来，上游原材料价格持续上涨。在上游成本紧张的情况下，隆基主动与战略客户锁定长期订单，为客户的利益和价值提供保障。公司加快提升智能制造能力，不断提升生产效率和智能制造水平，降低运营成本。2022年上半年，公司综合毛利率为17.61%，加权平均净资产收益率为12.64%。

4月24日，隆基在公司2022年供应商大会上正式发布“供应链绿色伙伴赋能计划”，旨在通过碳管理赋能培训，鼓励供应商发起节能减排行动。2022年6月，隆基启动了行业首个“可持续发展周”活动，宣传绿色低碳发展理念。在本次可持续发展周期间，隆基发布了其2021年全球可持续发展报告，突出了该公司在应对气候变化、追求环境友好、为零碳未来做出贡献方面所取得的成就。

就在报告期的前一天，《财富》发布了“ 2022中国ESG影响力榜”，福布斯中国也发布了“ 2022中国ESG50榜”。凭借在环境、社会和治理（ESG）领域的一贯努力和出色表现，隆基在两个榜单中均占据了榜首位置。

环境、社会和治理（ESG）作为全面关注企业环境、社会和治理绩效的框架体系和经营理念，被视为人类实现可持续发展的新路径。这一商业价值理念顺应了社会发展趋势，正迅速成为判定企业是否具有足够的社会责任和可持续发展能力的重要标准。

通过增加研发支出推动行业创新

报告称，隆基已开发和储备了多种新型高效电池片和组件技术，在N型TOPCon、P型TOPCon、N型HJT和P型HJT等多种技术上寻求突破，公司还创造性地开发了HPBC（Hybrid Passivated Back Contact）电池片，持续推进新型高效电池片和组件的量产和转化。6月23日，隆基宣布其硅异质结（HJT）光伏电池的转换效率达到26.5%，创造了新的世界纪录。德国哈梅林太阳能研究所（ISFH）在M6（274.4cm2）全尺寸单晶硅片上实现了这一新纪录，标志着大尺寸单晶硅光伏电池效率的新突破。

针对新型光伏电池技术对硅片的性能要求，公司实现了原材料、设备、辅助材料等环节的兼容生产，为新型光伏电池技术的硅片供应提供了充足的技术储备和量产保障。

2022年7月25日，隆基中央研究院在其全球总部正式启动运营。隆基中央研究院是公司开展光伏产业研发的世界级设施。公司研发项目的意义在于能够吸引一流的科研人才，推进科研成果的转化应用，加速绿色能源产业的拓展。

隆基中央研究院将吸引超过4000名高端科研人才，其中85%以上的员工拥有硕士或博士学位，约20%的人员是新能源领域的顶尖研究人员。

截至2022年上半年，隆基已获得各类授权专利1808项，研发投入36.70亿元，占营业收入的7.28%。报告期内，固定资产减值损失4.72亿元，保持了公司设备和资产行业领先的品质。

全球市场潜力推动持续布局拓展

根据国际能源署（IEA）最近的一份报告，在过去十年中，全球太阳能光伏电池板的制造能力越来越多地从欧洲、日本和美国转移到中国，中国在投资和技术创新方面处于领先地位。

今年，隆基首次将整个产业链带到内蒙古。46吉瓦单晶硅锭及硅片项目、30吉瓦单晶高效光伏电池项目、5吉瓦光伏组件项目均在鄂尔多斯零碳产业园开工建设。

此外，陕西西咸新区15GW单晶高效光伏电池片项目、宁夏5GW高效光伏电池片项目、泰州4GW高效光伏电池项目、嘉兴10GW光伏组件项目、芜湖10GW光伏组件项目等都成为了在建或筹建项目。

中国光伏行业协会此前表示，全球光伏市场发展或将启动提速，预计今年将新增装机205-250GW，其中中国预计新增装机85-100GW。隆基将其单晶硅片全球出货目标设定在90GW-100GW左右（含内部使用），组件出货目标设定在50GW-60GW左右（含内部使用）。公司计划2022年实现营业收入1000亿元以上。