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The enthusiasm for photovoltaics has faded, from tens of thousands of attendees to only 800 people online; LONGi Green Energy Technology aims for a return to the break-even point in Q3 | Direct coverage of the Earnings Conference.
① The company's Director, Zhong Baoshen, stated that the ability to turn losses into profits is closely related to the industry situation, with a goal to return to breakeven by the third quarter of this year; ② Zhong Baoshen anticipates that by 2026, as the Electrical Utilities system adapts and adjusts to the acceptance of the New energy Fund, there will be a return to a growth state. However, it will not again reach the rapid growth rates of 40% to 50% seen in previous years, but may be around a 10% increase.
The price war in the photovoltaic Industry is fierce, LONGi Green Energy Technology is expected to incur a net loss of 8.62 billion yuan in 2024, marking its first annual loss in over a decade | Earnings Reports insights.
The Global photovoltaic Industry is experiencing a decline in prices, leading to widespread losses for companies at all stages, and LONGi has also not escaped the pressure of price competition. The Chairman of LONGi Green Energy Technology stated that the company is facing the most difficult situation in its history in 2024. LONGi reported a net loss of 8.6 billion yuan for the entire last year, marking its first annual loss since 2013. The net loss situation improved somewhat in the first quarter, decreasing by 38.89% year-on-year to 1.436 billion yuan, but the industry crisis has not been completely resolved.
The chairman of LONGi Green Energy Technology stated in the annual report that it was the "most challenging year since going public" and admitted to several failed decisions | Interpretations
①Looking back at 2024, LONGi Green Energy Technology's revenue has significantly decreased year-on-year, and there has been a substantial loss in net income. The Chairman stated, "This has become the most difficult year since the company went public." ②The external reason is the imbalance between supply and demand in the Industry, insufficient operating rates, and continuously falling prices of photovoltaic products. The internal reason is the accumulation of many management mistakes in Operations.
China Tourism Group Duty Free Corporation's Q1 performance has yet to recover from a continuous decline. In the future, it may benefit from the new tax refund policy for departing travelers | Interpretations
In Q1 of this year, China Tourism Group Duty Free Corporation achieved revenue of 16.746 billion yuan, a year-on-year decrease of 10.96%; net income attributable to the parent company was 1.938 billion yuan, a year-on-year decrease of 15.98%. Analysts indicate that the further promotion of the duty-free "buy and refund" policy for departing travelers and future visa-exempt policies is expected to stimulate a recovery in the number of inbound business and travel passengers.
Midea's Q1 revenue increased by 20.5% year-on-year, net income surged by 38%, new business is experiencing explosive growth | Earnings Reports insights.
Midea's new Business performance is impressive: In the first quarter, New energy Fund and industrial technology revenue reached 11.1 billion yuan, a year-on-year increase of 45%; Asia Vets revenue was 9.9 billion yuan, a year-on-year increase of 20%; Siasun Robot&Automation revenue was 7.3 billion yuan, a year-on-year increase of 9%. Midea also announced plans to spin off Ande Intelligent Connectivity for listing on the Main Board of the Hong Kong Stock Exchange.
In Q1, China Tourism Group Duty Free Corporation's revenue decreased by 10.96% year-on-year, and net income fell by 15.8% | Earnings Reports insights.
In the last quarter of last year, China Tourism Group Duty Free Corporation experienced a significant year-on-year decline in revenue and profit. In Q1, the Business continued to be under pressure, with double-digit declines in both revenue and profit. Selling expenses and administrative expenses decreased by 9% and 11% year-on-year respectively. The net cash flow from operating activities decreased by 9.52% year-on-year. At the end of the reporting period, the inventory balance was 15.751 billion yuan, a decrease of approximately 9.21% compared to the 17.348 billion yuan at the end of 2024.
