Gelonghui, May 14 | Bank of China Securities Research Report indicates that Longji Green Energy (601012.SH) recently announced its 2023 annual report and 2024 quarterly report, with profit of -27%/-165%, respectively. Affected by factors such as the continued decline in prices in the photovoltaic industry chain, the company has planned large inventory impairment preparations. In 2023, the company achieved 125.42 GW of silicon wafer shipments, an increase of 47.45% year on year; module shipments were 67.52 GW, an increase of 44.40% year on year. While maintaining the number one monocrystalline silicon wafer shipment volume in the world for nine consecutive years, the company achieved 53.79 GW of silicon wafers in foreign sales, an increase of 26.51% over the previous year. On May 7, 2024, the company released the Hi-MO 9 module. It is based on high-efficiency HPBC 2.0 battery technology. The maximum power of the Hi-MO 9 module reaches 660W, and the conversion efficiency is as high as 24.43%. It is planned to be launched on the market in the second half of 2024. Based on the current industrial chain price, the company's current production capacity and production capacity plan, the bank adjusted the company's 2024-2026 forecast earnings per share to 0.54/0.83/1.08 yuan (the original 2024-2026 forecast was 2.96/3.49/- yuan), corresponding to a price-earnings ratio of 34.3/22.3/17.1 times; maintaining a “buy” rating.