LONGi (601012.SS) stock price, revenue, and financials

LONGi market cap is ¥328.6 b, and annual revenue was ¥32.9 b in FY 2019

¥328.6 B

601012.SS Mkt cap, 18-Oct-2021

¥20.1 B

LONGi Revenue H1, 2020
LONGi Gross profit (H1, 2020)5.9 B
LONGi Gross profit margin (H1, 2020), %29.2%
LONGi Net income (H1, 2020)4.2 B
LONGi EBIT (H1, 2020)4.9 B
LONGi Cash, 30-Jun-202018.7 B
LONGi EV323.8 B
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LONGi Revenue

LONGi revenue was ¥32.9 b in FY, 2019 which is a 49.6% year over year increase from the previous period.

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LONGi Revenue Breakdown

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LONGi revenue breakdown by business segment: 8.6% from Power Project Construction and Service, 39.3% from Wafers, 44.3% from Solar Modules and 7.9% from Other

LONGi revenue breakdown by geographic segment: 14.5% from Europe, 13.8% from America, 9.9% from Asian-Pacific, 61.6% from China and 0.1% from Other

LONGi Income Statement

Annual

CNYFY, 2017FY, 2018FY, 2019

Revenue

16.4b22.0b32.9b

Revenue growth, %

34%50%

Cost of goods sold

11.1b17.1b23.4b

Gross profit

5.3b4.9b9.5b

Gross profit Margin, %

32%22%29%

Sales and marketing expense

664.3m1.0b1.3b

R&D expense

201.8m304.2m

General and administrative expense

664.4m1.0b971.0m

Operating expense total

1.3b2.0b3.2b

EBIT

4.0b2.9b6.3b

EBIT margin, %

24%13%19%

Interest expense

270.0m408.9m458.4m

Interest income

75.7m128.6m232.9m

Investment income

581.6m61.9m240.0m

Pre tax profit

4.0b2.9b6.2b

Income tax expense

468.3m300.8m689.8m

Net Income

3.5b2.6b5.6b

EPS

1.80.91.5

Half Year

CNYH1, 2018H1, 2019H1, 2020

Revenue

10.0b14.1b20.1b

Cost of goods sold

7.7b10.4b14.3b

Gross profit

2.3b3.7b5.9b

Gross profit Margin, %

23%26%29%

Sales and marketing expense

456.9m546.4m330.1m

R&D expense

117.0m585.9m

General and administrative expense

351.8m399.2m186.3m

Operating expense total

806.0m2.6b1.0b

EBIT

1.5b2.4b4.9b

EBIT margin, %

15%17%24%

Interest expense

191.3m273.3m163.2m

Interest income

107.0m112.6m149.2m

Investment income

318.2m145.1m541.6m

Pre tax profit

1.5b2.4b4.8b

Income tax expense

153.0m280.4m601.1m

Net Income

1.3b2.1b4.2b

EPS

0.50.61.1

LONGi Balance Sheet

Annual

CNYFY, 2017FY, 2018FY, 2019

Cash

8.5b7.7b19.3b

Accounts Receivable

3.9b4.4b3.8b

Prepaid Expenses

443.7m608.7m1.0b

Inventories

2.4b4.3b6.4b

Current Assets

22.9b18.9b37.4b

PP&E

10.8b13.3b15.5b

Goodwill

11.0m11.0m11.0m

Total Assets

39.7b32.9b59.3b

Accounts Payable

3.5b3.8b5.6b

Short-term debt

5.4b5.4b9.0b

Current Liabilities

12.3b14.9b24.6b

Long-term debt

4.8b5.9b3.5b

Non-Current Liabilities

6.3b8.0b6.4b

Total Debt

10.2b11.3b12.5b

Total Liabilities

18.6b22.8b31.0b

Common Stock

2.0b2.8b3.8b

Additional Paid-in Capital

5.4b4.6b10.4b

Total Equity

14.2b16.8b28.3b

Debt to Equity Ratio

0.7 x0.7 x0.4 x

Debt to Assets Ratio

0.3 x0.3 x0.2 x

Financial Leverage

2.8 x2 x2.1 x

Half Year

CNYH1, 2018H1, 2019H1, 2020

Cash

7.0b14.5b18.7b

Accounts Receivable

4.5b4.8b6.0b

Prepaid Expenses

1.3b1.2b1.2b

Inventories

4.6b5.5b8.6b

Current Assets

21.2b33.4b42.9b

PP&E

12.7b13.9b18.1b

Goodwill

11.0m11.0m11.0m

Total Assets

37.9b51.6b68.0b

Accounts Payable

4.6b3.9b6.9b

Short-term debt

6.7b9.1b11.6b

Current Liabilities

15.8b20.6b31.3b

Long-term debt

3.2b5.9b2.2b

Non-Current Liabilities

6.8b8.6b4.9b

Total Debt

9.9b15.0b13.9b

Total Liabilities

22.6b29.2b36.2b

Common Stock

2.8b3.6b3.8b

Additional Paid-in Capital

4.6b7.6b10.4b

Total Equity

15.3b22.4b31.8b

Debt to Equity Ratio

0.6 x0.7 x0.4 x

Debt to Assets Ratio

0.3 x0.3 x0.2 x

Financial Leverage

2.5 x2.3 x2.1 x

LONGi Cash Flow

Annual

CNYFY, 2017FY, 2018FY, 2019

Accounts Receivable

10.9b17.9b26.5b

Accounts Payable

6.9b14.4b15.5b

Cash From Operating Activities

1.2b1.2b8.2b

Purchases of PP&E

(3.9b)(3.8b)(2.7b)

Cash From Investing Activities

(3.8b)(3.2b)(2.8b)

Long-term Borrowings

(1.5b)(1.8b)(2.9b)

Dividends Paid

(430.8m)(669.5m)(720.7m)

Cash From Financing Activities

4.8b267.5m4.6b

Net Change in Cash

2.2b(1.7b)9.9b

Half Year

CNYH1, 2018H1, 2020H1, 2019

Accounts Receivable

8.4b9.7b12.0b

Accounts Payable

6.0b6.1b9.5b

Cash From Operating Activities

1.2b2.4b338.8m

Purchases of PP&E

(2.7b)(773.6m)(1.9b)

Cash From Investing Activities

(2.5b)(1.5b)(1.5b)

Long-term Borrowings

(2.2b)(1.3b)(361.8m)

Dividends Paid

(526.4m)(560.5m)(971.0m)

Cash From Financing Activities

(1.1b)4.6b432.9m

Net Change in Cash

(2.3b)5.6b(703.3m)

LONGi Ratios

CNYFY, 2017

Revenue/Employee

924.3k

Debt/Equity

0.7 x

Debt/Assets

0.3 x

Financial Leverage

2.8 x

LONGi Operating Metrics

FY, 2017FY, 2018FY, 2019

Patents Issued

260526702

Modules Produced, MW

8.91 k

Modules Sold (Overseas), MW

1.96 k4.99 k

Modules Sold, MW

7.39 k

Mono Cells Sold (Overseas), MW

252491715

Mono Cells and Modules Shipped, MW

4.7 k7.07 k

Mono Cells and Modules Sold, MW

3.51 k6.48 k

Mono Modules Produced, MW

4.53 k7.28 k

Mono Modules Sold (Overseas), MW

3.51 k5.99 k7.39 k

Mono Modules Sold, MW

3.51 k5.99 k

Mono Wafers Produced, pieces

3.64 b

Mono Wafers Shipped, pieces

3.38 b

Mono Wafers Sold (Overseas), pieces

1.13 b1.97 b4.7 b

Solar Grade Wafers Produced, pieces

2.21 b3.64 b

Solar Grade Wafers Sold, pieces

1.13 b

Solar Mono Wafers Sold, pieces

1.97 b

Wafers Produced, pieces

2.2 b6.48 b

Wafers Sold (Overseas), pieces

1.13 b

Wafers Sold, pieces

1.13 b4.7 b

LONGi Human Capital

Job Roles

Y, 2019Y, 2018Y, 2017
Production74.3%73.7%74.4%
Technical Staff12.2%11.4%9.5%
General and Administrative 11.4%11.9%12.7%
Other2.1%3%3.5%