Longi Green Energy's energy storage business "though late, but arrives" plans not to produce battery cells, focusing mainly on overseas markets

Asking AI · How would not involving in battery cell manufacturing affect Longi Energy Storage’s business development?

Cailian Press, April 3rd (Reporter Liu Mengran)
At the bottom of the photovoltaic industry cycle, the strategic positioning battle of integrated leading companies in energy storage has entered a heated stage. Once regarded as a “latecomer,” Longi Green Energy (601012.SH) is accelerating to make up for this strategic piece with an almost urgent posture. At the 14th International Energy Storage Summit and Exhibition held recently, the company officially announced the “Full-Stack Longi LONGi ONE” integrated solar and storage strategy.

Cailian Press reporters noticed that this was Longi’s first participation in an industry exhibition focused on energy storage. Previously, companies such as JinkoSolar (688223.SH), Trina Solar (688599.SH), and others had been exhibiting at this event for several consecutive years.

Reviewing Longi Green Energy’s entry into energy storage, from announcing the acquisition to completing integration and launching system solutions, took less than five months. In November 2025, the company plans to acquire approximately 61.9998% of voting rights in Jingkong Energy through equity purchase, capital increase, and voting rights entrustment, entering the energy storage track; in January this year, it completed a business registration change, with Jingkong Energy’s legal representative changing to Longi Green Energy Chairman Zhong Baosheng, and registered capital increasing to 450 million yuan; on March 17th, the company disclosed in a research summary that the acquisition of Jingkong Energy had been completed.

Against the backdrop of cyclical adjustments in the photovoltaic industry, the strategic focus of leading integrated photovoltaic companies is generally shifting more rapidly toward the energy storage sector. In recent years, JinkoSolar, Trina Solar, and JA Solar (002459.SZ), which are among the top four in module shipments, have deepened their layout in the energy storage market through self-built capacity or system integration, forming a “solar-storage integration” second growth curve.

In contrast, in Longi Green Energy’s earlier diversified strategic landscape, hydrogen energy has been a key second growth curve it has cultivated, which also led to its scaled development of energy storage lagging behind industry peers.

However, Longi Green Energy Vice President She Haifeng stated during an exchange that Longi is not a “new entrant” into energy storage. He believes that Jingkong Energy began exploring energy storage over ten years ago, nearly a decade earlier than many peers. Few other photovoltaic companies dare to propose a “full-stack resource” layout, and after acquiring Jingkong Energy, Longi launched related full-stack resource products in just 100 days, with a speed far faster than industry peers. Jingkong Energy has been deeply involved in energy storage for over ten years, with 31 GWh of independent capacity and over 12 GWh of global grid-connected volume. This integration will quickly amplify Longi’s advantages in system integration and delivery.

It is important to note that for Longi Green Energy, this is not only the integration of photovoltaic and energy storage businesses but also the integration of two companies. According to She Haifeng, at the brand level, all related branding will be unified under “Longi,” and the independent brand of Jingkong Energy will no longer be retained, focusing on synergy with Longi Jingkong’s core business.

Regarding strategic choices, She Haifeng stated that Longi will not engage in battery cell manufacturing in the short term. He believes that battery cell manufacturing standards are extremely high and that it is a large-scale manufacturing category capable of rapid expansion, but currently, large-scale investment efficiency and risks are not aligned. In the medium to long term, Longi will form deep strategic ties with leading cell manufacturers, covering supply chain supply, joint R&D, and other dimensions.

He further explained that aside from battery cells, the system and control segments will be handled independently by Longi. She Haifeng said that the company will focus on investing in power electronics, with its existing PCS team having developed to the third generation, relying mainly on its own team, but external supplementation is also possible.

In terms of market deployment, Longi’s core focus for energy storage is high-value overseas markets. According to the plan, Longi will leverage its photovoltaic marketing and service network across 120 countries worldwide, along with Jingkong Energy’s past 13 GWh of global deliveries, aiming to establish 30 comprehensive local service centers in major global integrated solar-storage markets by the end of 2028.

However, She Haifeng also candidly admitted that due to the current massive scale of the photovoltaic business, the short-term impact of energy storage on the group’s overall performance is limited. It is expected that from 2027 to 2028, energy storage will gradually enter a stable profit stage, with current efforts mainly focused on R&D and services.

(Cailian Press, Liu Mengran)