LONGi Green Energy Technology (SHA:601012) expects to swing to a loss in 2024 amid industry supply-demand imbalances, declining profit margins, asset impairments and investment losses from associated silicon material enterprises.
The solar wafer manufacturer forecasted attributable net loss of between 8.2 billion yuan and 8.8 billion yuan in 2024, compared with a net profit of 10.8 billion yuan in 2023, according to a Friday filing with the Shanghai bourse.
Shares of LONGi Green Energy Technology were down 1% in recent trade.
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