Energy
Longi Extends Quarterly Losses as Solar Industry Glut Persists
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Chinese solar manufacturer Longi Green Energy Technology Co. recorded its fourth straight quarterly loss as a massive supply glut continues to depress prices and hurt the sector’s profitability.
The Xi’an-based company lost 1.26 billion yuan ($177 million) in the third quarter, it said in an exchange filing Wednesday. It posted net income of 2.5 billion yuan during the same period last year.