报告期内，隆基股份资产负债率为51.31%，较2020年末下降8.07个百分点。相较于同行增加资产负债至70%以上的激进投资，隆基股份财务状况更为稳健，显示较强的偿债能力和持续投资的融资潜力。在PV Module Tech发布的可融资性评级报告中，公司凭借卓越的制造能力和财务健康水平，是近三年全球唯一获得AAA评级的组件供应企业，创下目前该评级报告中所统计最高水平，财务健康指数持续领先。
April 27, Longi shares released 2021 annual report. During the reporting period, the company achieved operating revenue of 80.932 billion yuan, a year-on-year increase of 48.27%; The net profit attributable to the shareholders of the listed company reached 9.086 billion yuan, among which the net profit attributable to the shareholders of the listed company deducted non-recurring gains and losses amounted to 8.826 billion yuan; The comprehensive gross profit rate was 20.19%, and the asset-liability ratio was 51.31%, down 8.07 percentage points.
Longji said it aims to achieve operating revenue of more than 100 billion yuan in 2022.
Market share to achieve market segment overall lead in 2021, the company achieved monocrystalline silicon sheet shipments of 70.01GW, including external sales of 33.92GW, 36.09GW; The shipments of single crystal components reached 38.52GW, of which 37.24GW was sold abroad, with a year-on-year growth of 55.45%, and 1.28GW was used for self-use.
During the reporting period, Longji component sales, market share and brand influence ranked first in the world, and its total volume of domestic and foreign component shipments far exceeded the second place by more than 10GW.
In terms of sales region, Longi Shares has achieved the leading market share in Asia-Pacific, Europe, Central and East Africa and other countries and regions, and the component sales volume has achieved the overall global lead from 2020 to the overall lead in the major global market segments in 2021.
By the end of 2021, the company's single-crystal silicon wafer production capacity reached 105GW, single-crystal battery production capacity reached 37GW, and single-crystal component production capacity reached 60GW. In 2021, the number of inventory turnover days decreased by 6.8 days compared with 2020, and the market's recognition of Longji stock products continued to improve.
Longi shares released the 2022 monocrystalline silicon wafer shipment target of 90GW-100GW (including self-use), component shipment target of 50GW-60GW (including self-use).
At the same time, the company announced the 2021 annual profit distribution plan in the annual report, intends to pay a cash dividend of 2.6 yuan (tax included) to all shareholders per 10 shares, intends to increase 4 shares to all shareholders per 10 shares by capital accumulation fund. In 2021, Longji's basic earnings per share were 1.69 yuan, up 4.32 percent from a year earlier.
Citic Construction Investment Securities research report believes that the layout of leading battery module enterprises in terms of technological capacity will be able to enjoy strong technology dividends, gain excess profits and valuation
elasticity through component premium, and have better investment opportunities.
10 years of research and development of more than 10 billion ranks the top in the industry
In 2021, the country's newly installed photovoltaic capacity was 54.88GW, accounting for 31.17% of the country's newly installed power generation capacity, up 13.9% year-on-year. Photovoltaic power generation has become the fastest growing renewable energy variety in the world.
Since the listing in 2012 to 2021, Longji shares operating revenue compound annual growth rate reached 53.52%, its total revenue increased from 1.71 billion yuan to more than 80 billion yuan, an increase of 47 times. The company's R&D investment has exceeded 10 billion yuan. In 2021, the company accumulated 1,387 kinds of authorized patents, the annual R&D investment of 4.394 billion yuan, accounting for 5.43% of the operating revenue, a year-on-year increase of 69.55% compared with 2020.
In terms of silicon wafers, according to PV InfoLink's latest statistics, the 182 product market share in 2021 is 28%, the global shipment is about 48.5GW, 210 component shipment is 23.5GW, it is expected that in 2022 182 product market share will reach 53%, 210 size product market share will reach 26%.
In terms of battery components, the company has set up an open innovation platform. During the report period, the R&D and conversion efficiency of N-type TOPCon, HJT battery and P-type TOPCon battery published by the company constantly broke the world record in the industry.
It is reported that in the first quarter of 2022, Longi accelerated the industrial construction of the new battery technology, which is expected to start production in the third quarter of 2022.
Continuing to reduce assets and liabilities to meet industrial changes, statistics show that in 2021, China's newly installed photovoltaic capacity 54.88GW, accounting for 31.17% of the country's newly installed power generation capacity, a year-on-year increase of 13.9%. In the total newly installed photovoltaic capacity, the distributed newly installed photovoltaic capacity is about 29.28GW (of which the newly installed household photovoltaic capacity is about 21.6GW),
accounting for about 53.4% of the newly installed photovoltaic capacity in China that year, which is the first time in history to break through 50%.
Annual report shows that the company's operating activities of net cash flow continued to grow, up to 12.323 billion yuan, year-on-year growth of 11.87%, indicating that the scale of sales expansion, recovery improvement. From the pre-payment receivable and pre-payment payable, we can see that Longji shares have strong bargaining power for downstream buyers.
During the reporting period, the asset-liability ratio of Longi shares was 51.31%, down 8.07 percentage points from the end of 2020. Compared with peers who increase their balance sheet to more than 70% of the aggressive investment, Longi shares financial position is more stable, showing strong solvency and financing potential
for continuous investment. In the financability rating report issued by PV Module Tech, the company is the only component supplier in the world to obtain AAA rating in the past three years with its excellent manufacturing capability and financial health level, which is the highest statistical level in the current rating report, and the financial health index continues to lead.
In 2021, in terms of crystal drawing and slicings, the Qujing project with annual output of 10GW monocrystalline silicon rods and wafers of Longji Corporation has reached production, and the Chuxiong (phase III) project with annual output of 20GW monocrystalline silicon wafers has been partially put into production; In terms of battery components, the production line upgrade of Longji, Jiangsu, Chuzhou Phase II and other bases has been completed, and the annual output of 15GW single crystal battery project
of Xixian Leye is under construction. Accelerated expansion of integrated production capacity.