LONGi Green Energy Technology Co Ltd Class A

601012: XSHG (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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LONGi Green Energy Earnings: Cut Fair Value Estimate on Lower Wafer and Module Prices

Cheng Wang

May 6, 2024

We cut our fair value estimate for LONGi Green Energy to CNY 25.60 from CNY 29.30 after incorporating lower solar wafer and module prices. While the losses in fourth-quarter 2023 and first-quarter 2024 are disappointing, market reaction was contained as prices appear to be bottoming. LONGi remains undervalued, but we currently prefer TCL Zhonghuan for greater upside potential.

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LONGi Green Energy Technology Co Ltd Class A

LONGi Green Energy Earnings: Cut Fair Value Estimate on Lower Wafer and Module Prices

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