Market Chatter: LONGi's Market Cap Falls to Below 100 Billion Yuan

MT Newswires Live07-10

LONGi Green Energy Technology's (SHA:601012) market capitalization has dropped to below 100 billion yuan due to a slump in the photovoltaics sector, Yicai Global reported Tuesday

Its market value is now at 99.7 billion yuan, down from a peak of 550 billion yuan in 33 months, the report said.

LONGi (SHA:601012) is the last Chinese-listed solar module manufacturer to enjoy a market cap of more than 100 billion yuan, Yicai said.

Other companies such as TCL Zhonghuan Renewable Energy (SHE:002129), JA Solar Technology (SHE:002459), and Tongwei (SHA:600438) saw larger declines in the first half, the report said.

The entire photovoltaic sector's market cap plunged by about 557.3 billion yuan, the report said.

Shares closed 3% higher in Shanghai on Wednesday's afternoon trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (RMB): Â¥13.56, Change: Â¥+0.40, Percent Change: +3.04%

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