New Energy
China’s Longi Green Narrows Loss as Solar Installations Surge
Longi Green Energy Technology Co. solar panels on the rooftop of the company's headquarters in Xi'an, China.
Photographer: BloombergChinese solar giant Longi Green Energy Technology Co. posted a narrower first-half loss as a surge in solar panel installations helped limit the impact of industry overcapacity.
The company reported a net loss of 2.57 billion yuan ($358 million) in the first six months, according to a statement on Friday, compared with a loss of 5.23 billion yuan a year earlier. The improvement came after developers rushed to install projects to lock in better returns ahead of less favorable pricing policies from June.