Longi Green Energy Enters Energy Storage Sector Amid Performance Pressure

Deep News11-14

On November 13, the Shaanxi Provincial Market Supervision Administration announced Longi Green Energy Technology Co., Ltd.'s acquisition of a stake in Jingkong Energy. The news drove Longi's stock price up by 2.72% to 21.88 yuan per share on November 14, with a total market capitalization of 165.8 billion yuan.

Longi reported revenue of 50.915 billion yuan in the first three quarters, down 13.1% year-on-year, and a net loss of 3.403 billion yuan, reflecting significant growth pressure. The company plans to acquire approximately 61.9998% of voting rights in Jingkong Energy, marking its official entry into the energy storage sector.

Supported by favorable policies, the energy storage industry is projected to achieve a compound annual growth rate exceeding 20% over the next five years. Jingkong Energy aims for a total energy storage capacity of 31GWh by 2025, with products distributed across more than 50 countries and regions.

This move allows Longi to address its operational gaps and establish an integrated "solar-plus-storage" ecosystem.

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