LONGi Solar has topped the BNEF Altman-Z score chart for solar module manufacturers for the first time.
Chinese solar PV major, LONGi Solar has topped the Bloomberg New Energy Finance (BNEF) Altman-Z score chart for solar module manufacturers for the first time – and with a highly increased score.
The Altman-Z ratio measures a company’s financial security against five basic criteria which test the possibility of it going bankrupt in the next two years.
LONGi Solar was ranked as the most secure PV manufacturer worldwide in BNEF’s 2Q-2019 PV Market Outlook, with an Altman-Z score ratio of 3.01. In previous editions of BNEF report, LONGi had been the highest ranked Asia-based manufacturer and placed second globally. LONGi is also consistently listed in BNEF Tier 1 Module Makers.
Wenxue Li, President of LONGi Solar, commented, “The recent BNEF Altman-Z score underlines the tremendous growth and leadership position LONGi has secured in the high-quality, high-performance and high-volume global solar market in recent years. These factors are propelling the company forward as the preferred choice for customers, due to our financial strength and independently verified bankability.”
LONGi Solar is a wholly-owned subsidiary of world leading high-efficiency monocrystalline wafer producer LONGi Green Energy. The Group set a new annual revenue record of RMB 21,987 million ($3.27 billion) in 2018, up 34.38% from the previous year, with an annual net profit of RMB 2,557 million ($ 379.8 million). LONGi achieved solar cell & module shipments of 7.072 GW, amongst the top 4 in the world in 2018.
In May, highlighting its growing strength in the industry, LONGi released a new series of modules that it expects will set industry benchmarks – the new generation Hi-MO4 and Real Black high-efficiency modules.
Li said, “Efficiency wins and producing cost-effective and high-quality products are the technological innovation of LONGi. We expect the release of Hi-MO4 will play an important role in reducing the cost of electricity and promoting grid parity. Real Black will bring new aesthetics and high power to rooftop PV users.