SHANGHAI OFFICE

HEADQUARTERSBlock B, Innovation Incubation Center, Xi'an Service Outsourcing Industrial Park No. 8989, Shangji Road, Xi'an Economic and Technological Development Zone

JAPAN / USA / EUROPE

THE WORLD‘S

MONOMODULEMANUFACTURER

THE WORLD‘S

MONOMODULEMANUFACTURER

facebook.com/LONGiSolar

twitter.com/longi_solar

www.en.longi-solar.com

MONOPERC

BETTER LCOESOLUTION

48%

16%

About

LONGi Solar

A world leading mono-crystalline solar module manufacturer which achieves the lower LCOE (levelized cost of electricity) solutions.

LONGi Solar is a world leading manufacturer of

high-e�ciency mono-crystalline solar cells and

modules. The Company is wholly owned by LONGi

Group. LONGi Group(SH601012) focused on MONO 17

years and is the largest supplier of mono-crystalline

silicon wafers in the world, with total assets above $2.7

billion. (2016)

Armed and powered by advanced technology and

long standing experience in the �eld of mono-crystalline

silicon, LONGi Solar shipped approximately 4.5GW

products in 2017, with over 100% rate of growth in

three consecutive years. The Company has its

headquarters in Xi’an and branches in Japan, Europe,

North America, India, Malaysia, Australia and Africa.

With strong focus on R&D, production and sales &

marketing of mono-crystalline silicon products, LONGi

Solar is committed to providing the lower LCOE

solutions as well as promoting the worldwide

adoption of mono-crystalline technology.

NEW CHINANIFTY 50Source: FactSet，Goldman Sachs Global Investment Research

TOPINVESTMENT IDEAS

FINANCIAL HEALTH

LISTED NO.1IN 1st QUARTILE Z-SCORES PV MANUFACTURINGSource: PHOTON Consulting, LLC.

Report date: Oct 15, 2017

TOP MODULE SUPPLIER

LONGi Silicon Materials became the newest member of “Silicon Module Super League ” in 2016

This exclusive industry grouping now consists of seven companies, each forecast to ship more than 4.5GW of modules during 2017

TIER 1LONGi Solar on Bloomberg (BNEF) PV Module Maker Tier 1 List !NO.7 in the word NO.2 in ChinaPV module brands used in most debt-�nanced projectsSource: Bloomberg New Energy Finance

01 02

In 2016, the output of mono wafer was 1.518 billion pieces, which accounted for a 48% market share. Calculation based on the 2016 global

installed capacity of Bloomberg statistics

Feb 17,2017

Source：Q1 2017 Global PV Market

Outlook -Bloomberg New Energy Finance

In 2016, The output of mono module was 2.34GW，which accounted for a 16% global mono module market share.Calculation based on the 2016 global

installed capacity of Bloomberg statistics

Feb 17,2017

Source：Q1 2017 Global PV Market

Outlook -Bloomberg New Energy Finance

47.35%Gross revenue in 2016 was $1.67 billion, Net pro�t was $224 million.

The Debt Asset ratio was 47.35%. March 11. 2017

Source: LONGi 2016 Annual Report

April 18, 2017

Source:Morgan Stanley Research丨Prefer Cost and Technology

Leaders Amid Dark Times for Solar

5%Research and development investment accounted for 5% of revenueMarch 11. 2017

Source: LONGi 2016 Annual Report

23.26%WORLD RECORD HOLDER

Mono PERC cell e�ciency of 23.26%October 27.2017

Source: National Center of Supervision

and Inspection on Solar Photovoltaic

Product Quality (CPVT) Report

03 04

Total assets (Million USD)

2014 2015 2016

9921,570

2,779

+77%Net Pro�t (Million USD)Gross Pro�t (Million USD)

2014 2015 2016

46

96 80186

224

459

+180%Revenue (Million USD)

2014 2015 2016

566915

1,671

+82.6%Debt Ratio

50%

44.6%47.35%

2014 2015 2016

47.35%

XI’ANModule Factory500MWINDIA

(Under Construction)Cell Capacity 500MW / YR Module Capacity 500MW / YR

MALAYSIACell Capacity 1GW / YR Module Capacity 1GW / YR

TAIZHOUCell Factory2GW/YRModule Factory 2GW/YR

HEFEICell Factory500MW/YR

QUZHOUModule Factory2GW/YR

YINCHUANModule Factory500MW/YR

INDUSTRY CHAIN

System

The Photon Financial Health Index of LONGi Solar rank �rst in PV industry

Source: LONGi 2016 Annual Report. March 11. 2017

STRENGTHFINANCIAL

STRENGTHCAPACITY

OVERSEAS FACTORY

Mono-crystalline Silicon Mono Cell Mono Module

ModuleCell

CAPACITY PLAN ( GW )

8.5

12

8.5

12

5.56.5

3

5

2016 2017 2018 2019

MONO PERC

BIFACIAL MONO PERC

Higher e�ciency under low irradiation.Higher e�ciency in the- infrared wave length

PERFORMANCEDislocation density and Fe impurity a�ect minority carrier lifetime which is concerned with performance.

Low O impurity determines a good LID performance.

Multi silicon structure

Mono silicon structure

Mono-C-Si modules generate less heat than multi-c-Si module.

Therefore, the nominal operating cell temperature (NOCT) for a mono cell is lower than for a multi-cell, By operating at a lower temperature, mono cells and modules generate more energy.

Lower initial light induced degradation (LID), means higher reliability and more energy generated than standard mono or multi -crystalline modules

LOWER NOCT

LOWER LID

Multi Di�ereneMono

-5

0

5

07:00 08:00 09:00 10:00 11:00 12:00 13:00 14:00 15:00 16:00 17:00 18:00 19:00

10

15

20

25

30℃

80%2M6M 1Y 25Y

82%

84%

86%

88%

90%

92%

94%

96%

98%

100%

LONGi Solar Low LID Mono Module

Multi Module

81 μs 435 μs

MINORITY CARRIER LIFETIME

Mono silicon

0 μs 40 μs

Multi silicon

For minority carrier lifetime, mono silicon is an order of magnitude higher than Multi silicon.

Front Electrode

SiNx ARC

N+ Emitter

Rear Passivation

Al BSF

Al Fingers

P-Type Si Wafer

MONO PERCAl2O3/SiNx improves backside passivation and enhance long wavelength re�ection, enabling higher cell/module e�ciency. Mono wafers with higher bulk lifetime see larger e�ciency improvement adopting PERC cell structure.

Additional energy yield from backside light absorption

≥75%Bifaciality

LOWER TEMPERATURE COEFFICIENTHigh E�ciency → Low thermal loss

Higher Voc → Lower TempCo

Lower Power loss under high temperature environment.

BETTER LOW IRRADIANCE PERFORMANCE

Research and development investment accounted for 5-7% of the revenue

430+

275

5-7%

Technical TeamMore than 700 technical sta� working on ingot, wafer, cell, and module development

R & D Investment5-7% of total revenue is invested in R&D

PatentsHas developed 190 patents on ingot, wafer, cell and module technology

STRENGTHR & D

05 06

07 08

≥300W60pc

≥360W72pc

≥21.5%Cell

≥18.34%Module

Demo project in Puchen, Shaanxi, ChinaPower generation by bifacial module +

Fixed tilt is >12.4% higher than Multi

Module

Demo project in Kubuchi, Inner Mongolia, ChinaPower generation by bifacial module +

tracker + sand is >17.3% higher than

Multi Module

Demo project in Taizhou, Jiangsu, ChinaPower generation by Hi-MO2 +

Fixed tilt is 11.5% higher than

Hi-MO1; Hi-MO2 +1-axis tracker is

21.67% higher; Hi-MO2 +2-axis

tracker is 26.20% higer

HIGH POWER

HIGH ENERGY YIELDY

300W/60pc 360W/72pc

315W 378W

330W 396W

345W 414W

Backside Power Gain

+5%

+10%

+15%

+25% 375W 450W

HIGHER SIMULATED POWER GENERATION

CASE OF GENERATING GAIN

PAN �les generated by TUV Rheinland with randomly selected modules samples

from production shipment

Simulated energy yield in �ve di�erent cities globally

Mono PERC Module of LONGi Solar won �rst place in Mono group and among all modules

Simulated Power Generation (kWh/kWp/year)

1007

1545

1306

1625

1762

993

1526

1289

1608

1743

800

1100

1400

1700

Datong, China Chennai, India Los Angeles, US

Hi-MO1 Winner in Multi Grp

Cologne, Germany Kumamoto, Japan

EFFICIENCY

POWER

GAIN

09 10

30-YearPower Warranty

-0.45%Linear Power Degradation

<2%First Year Linear Power

Degradation

WARRANTY

(10 years warranty on material / 30 years linear power output warranty / 25- year non-cancellable term) This info seems duplicate of above info. Suggest to delete.

30YPG30Y84.95%POWER-OUTPUT10Y MATERIAL &

CRAFTWORK

HIGH RELIABILITY

BIFACIAL TECHNOLOGY Will enable PV LCOE to drop below $0.05/kWh for

most regions sooner

0.0770.073

0.0650.063 0.059

0.0540.051 0.0490.043 0.042

0.039 0.036

0.039 0.0370.033 0.032 0.03 0.027

970911.8

814.8 785.7746.9

679

0

200

400

600

800

1000

1200

0

0.02

0.04

0.06

0.08

0.1

0.12

2016 2017 2019 2021 2024 2027

1000 kWh/kWp 1500 kWh/kWp 2000 kWh/kWp assumed system price

LCO

E [U

SD/k

Wh]

Ass

umed

sys

tem

pric

e [U

SD/k

Wp]

Loan 80%Interest rate 5%

Discount rate 2%

98%97%

100%

84.95%84.80%

87.20%

80%

98%97%

87.20%

100%

84.95%84.80%

80%

01

510

1520

25

0 1 5 10 15 20 3025

LONGi Solar MonoPERC module linear power Warranty

LONGi Solar bifacial PERC module linear power Warranty

Standard Module linear power Warranty

+4.95%+7.20%

+4.80%

98%

84.95%

97%

Source: ITRPV 2017

Σ System costsCapital costsO&M costs, etc.

11 12

LCOE = Total System Cost

Total Generation($/kWh)

BIFACIAL PERC MODULE IS THE SOLUTION

kWh Generated

LOWER BOS LOWER EPC COSTS

LOWER MODULE COSTS

LOWER INVESTMENT COSTS

HIGH RELIABILITY

(STABLE HARVEST)

HIGH ENERGY YIELD PRODUCTION

HIGH EFFICIENCY

PRODUCT WARRANTY

13 14

LOWER LCOE

Multi Mono PERC Bifacial PERC

Module Pmax (W) 320 340 360 360

Annual degradation 0.70% 0.55% 0.55% 0.45%

Average peak sun hour per day (Hr) 6.5 6.6 6.7 7.2

4.12 4.01 3.96 3.27

System lifetime (yr) 25 25 25 30

System cost (cent / W) 100 99 99 103

Module cost (cent / W) X X+1 X+3 X+7

BOS cost (cent / W) Y Y - 2 Y - 4 Y - 4

4.0

3.75

3.50

3.25

LCOE(c/kWh)

PARTNERLONGi Solar has established strong strategic partnerships with equipment and material suppliers, leading research institutes and universities, as well as customers, to advance the development of ingot, wafer, cell and module technology.

1st-class Partners

MODULE TECHNOLOGY MULTI MONO PERC BIFACIAL PERC

For reference only

calculated based on California， USA

SHANGHAI OFFICE

HEADQUARTERSBlock B, Innovation Incubation Center, Xi'an Service Outsourcing Industrial Park No. 8989, Shangji Road, Xi'an Economic and Technological Development Zone

JAPAN / USA / EUROPE

THE WORLD‘S

MONOMODULEMANUFACTURER

THE WORLD‘S

MONOMODULEMANUFACTURER

facebook.com/LONGiSolar

twitter.com/longi_solar

www.en.longi-solar.com

MONOPERC

BETTER LCOESOLUTION