"In the third quarter of this year
"I think from the perspective of competition, the industry as a whole is still in the process of liquidation.". I think we will be able to see some positive results this year. Zhong Baoshen said.
For 2026, Zhong Baoshen believes that it will be a very effective year for the industry to gradually clear up. On the one hand, it is the landing of some anti-involution measures of the government, and more importantly, it is a market-oriented solution. "April should be a very bleak month for everyone to judge the whole year.". In fact, the market demand is not strong enough, especially in the Chinese market. But in terms of price, we have not seen the collapse of prices at present, but are in a stable and reasonable state. At the same time, according to different technical standards or different scenario applications of products, prices began to have a significant differentiation. In terms of
photovoltaic business, Zhong Baoshen said that Longji Green Energy is fully BC , and revealed that by the fourth quarter of this year, about 50% of the company's product power will reach 670 W-680 W. In the first quarter
of 2026, Longji Green Energy BC products accounted for two-thirds of sales, but the company's gross profit performance did not improve significantly.
In this regard, Zhong Baoshen explained: On the one hand, Longji Green Energy delivered a large number of centralized orders in the first quarter, silver prices rose sharply in the fourth quarter of 2025 and the first quarter of 2026, and production costs increased rapidly, but the company did not adjust the price accordingly. As a result, the gross profit was eroded. On the other hand, in January and February, Longji Green Energy made some technical improvements to the BC production line, but it did not reach the full production state, and the cost level did not reach the optimal state. In March, the technical transformation was fully completed, the BC production capacity reached full production, and the cost structure was good, almost at the same cost level as the conventional TOPCon cost. However, the products produced in March had almost no (performance) contribution because they could not be delivered to (overseas) customers in time, and domestic demand was relatively weak.
Regarding the development of Longji Green Energy business in the second and third quarters of 2026, Zhong Baoshen made the following response
: In the second quarter, the gross profit of about 50% of our products is higher than 10% of the gross profit of TOPCon products in the market. There are also some pre-orders that cannot be realized. However, after cost optimization, this part of the order will have a positive gross profit , but the gross margin is not so large compared with TOPCon."
For the third quarter, Zhong Baoshen said that Longji Green Energy has successfully developed a nano-alloy matrix contact (ACM) technology platform, achieved a breakthrough in the industrialization of BC new metallized materials and full-chain technology, and is currently promoting the construction of large-scale production capacity." It is expected that the 20GW production line will be completed in June 2026. After the introduction of the
above 20GW capacity, the cost will be further reduced, and at the same time, higher power technology will be introduced, and the proportion of products above 670W will be greatly increased. "Overall, for the component business, we are confident to achieve profitability in the third quarter, and we believe that such market conditions are fully available at present."
Recently, Longji Green Energy announced that it has set a new world record for its self-developed hybrid back-contact solar cell HIBC, which has been certified by the Hamelin Solar Energy Research Institute (ISFH) in Germany. The photoelectric conversion efficiency is up to 28. At the same time, the module based on HIBC cell has been certified by Rocky Mountain National Laboratory (NLR, formerly NREL). Efficiency breakthrough to 26.
In the future, how much scale will Longji Green Energy invest in this technology and the current HPBC2. In the near future, we will conduct in-depth discussions on the capacity and positioning of HIBC. "Frankly speaking, the cost and investment of it (HIBC) are very high . We need to evaluate it and HPBC2. At present, it still needs more technology development and is not very competitive for the time being."
Earlier, in terms of energy storage, Zhong Baoshen said that the company's most important markets are China, Europe, Australia and the United States. At the same time, it disclosed its strategic goal- "in about five years, the scale and volume of energy storage business can be similar to that of photovoltaic." In 2026, the shipment target of Longji Green Energy is 6GWh .
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