LONGi Green Energy to Swing to Loss in H1; Shares Up 4%

MT Newswires Live07-10

LONGi Green Energy Technology (SHA:601012) expects to incur a loss attributable to shareholders of between 4.80 billion yuan to 5.50 billion yuan in the first half of the year, swinging from the year-ago profit of 9.18 billion yuan, according to the company's filing on the Shanghai Stock Exchange.

The Chinese solar panel manufacturer attributed the forecast to a decline in revenue, which stemmed from the overall mismatch of supply and demand in the photovoltaic industry and the sharp decline in the market sales prices of major products, the Wednesday filing noted.

Shares of the company rose more than 4% in recent trade.

Price (RMB): Â¥13.74, Change: Â¥+0.58, Percent Change: +4.41%

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