LONGi Green Energy sets third crystalline silicon cell efficiency world record at 28.29% in 2024
LONGi Green Energy announced on September 24 that its HIBC solar cell achieved a certified efficiency of 28.29%, verified by Germany's ISFH. This is LONGi's third world record in 2024, reaching 96.2% of the theoretical limit. The company also unveiled a 700W+ module based on the technology, indicating mass production readiness. The achievement comes amid a global solar industry downturn, with SolarPower Europe forecasting the first contraction in over 20 years for 2026 installations.
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Common ground
- Both sides agree that China's solar industry is undergoing a deliberate consolidation, with 'anti-involution' policies weeding out weaker players.
- There is agreement that LONGi's 28.29% efficiency record is a genuine technological achievement, reaching 96.2% of the theoretical limit for crystalline silicon.
- Both acknowledge that the Zhongji Innolight buyback signals strong confidence from that company, though they interpret its meaning differently.
Points of contention
- The Eastern Agent sees the efficiency record as proof of long-term market dominance, while the Neutral Agent argues lab results don't guarantee profitability or pricing power.
- They disagree on whether the 87% of PV companies with profit declines is a temporary phase in a successful strategy or a sign of a systemic crisis.
- The Eastern Agent blames demand contraction on Western political interference, while the Neutral Agent says it's due to structural issues like grid bottlenecks and overcapacity.
- They clash over whether China's supply chain control ensures lasting leadership, with the Neutral Agent pointing to global diversification efforts in India, the US, and Southeast Asia.
Blind spots
- Both sides overlook the potential impact of rapid technological shifts, like breakthroughs in alternative solar materials that could disrupt crystalline silicon's dominance.
- Neither fully addresses how geopolitical tensions or trade wars might escalate beyond current tariffs, cutting off key markets for Chinese exports.
- The debate ignores the environmental and social costs of rapid consolidation, such as job losses in weaker firms or the carbon footprint of massive new production lines.
WorldAttention’s read
This debate shows that China's solar industry is at a crossroads: it has world-beating technology and a clear strategy to consolidate, but it's also facing a painful shakeout where most companies are losing money. The Eastern Agent is right that the long-term goal is to control the global energy standard, but the Neutral Agent is right that this doesn't guarantee short-term profits or market stability. The real test will be whether the survivors can turn technological leads into sustainable margins while navigating trade barriers, grid limits, and global competition. For now, the industry's strength lies in its innovation and supply chain, but its weakness is the overcapacity that's crushing profits across the board.
Reporting timeline
LONGi Green Energy Hits 28.29% Solar Cell Efficiency, Nearing Theoretical Limit
LONGi Green Energy announced on September 24 that its independently developed HIBC (high-low temperature composite passivated back contact) cell achieved a photoelectric conversion efficiency of 28.29%, certified by the Institute for Solar Energy Research Hamelin (ISFH) in Germany. This is LONGi's third world record this year, following 28.04% and 28.13%, and reaches 96.2% of the theoretical limit. A 700W+ module based on HIBC technology has also been launched, indicating mass production. The article notes that the photovoltaic industry is in a deep adjustment cycle, with global demand weakening. SolarPower Europe forecasts 664 GW of new installations in 2025, falling to 612 GW in 2026, the first contraction in over 20 years. Supply-side consolidation is accelerating under anti-internal competition policies. Other companies like Trina Solar and Tongwei are also advancing perovskite/crystalline silicon tandem technologies. According to a China Securities report, quality capacity premiums are emerging. Data from Securities Times shows that among 73 A-share photovoltaic equipment companies, 9 saw net profit growth in the first half of the year, led by photovoltaic auxiliary material firms such as Tongxiang Technology, Levima Group, and Betely. Foreign investors (QFII) held stakes in 22 photovoltaic stocks worth 45.27 billion yuan as of June 30.
Read sourceLONGi Sets World Record for Crystalline Silicon Cell Efficiency, Nearing Theoretical Limit
This article from Securities Times, published on Tencent Stock, reports on recent developments in the A-share photovoltaic (PV) equipment sector. LONGi Green Energy announced on September 24 that its independently developed HIBC solar cell achieved a photoelectric conversion efficiency of 28.29%, certified by the ISFH in Germany. This is LONGi's third world record this year, reaching 96.2% of the theoretical limit. The article notes that the global PV market faces headwinds, with SolarPower Europe forecasting a potential 8% decline in new installations in 2026, the first contraction in over 20 years. Amidst this, leading companies like LONGi, Trina Solar, and Tongwei are accelerating product iterations towards higher efficiency. The article also covers Zhongji Innolight's completion of a nearly 50 billion yuan share buyback for employee stock plans. Of the 73 listed PV equipment companies, only 9 reported net profit growth in the first half of the year, primarily in the auxiliary materials segment. A Wukong Securities report suggests that industry supply-side consolidation and policies against 'involution' are creating premiums for high-quality capacity.
Read sourceLONGi Green Energy Sets New World Record for Crystalline Silicon Cell Efficiency at 28.29%
Chinese solar manufacturer LONGi Green Energy announced on September 24 that its independently developed HIBC (High-Low Temperature Composite Passivated Back Contact) cell achieved a certified photoelectric conversion efficiency of 28.29%, verified by Germany's ISFH institute. This marks LONGi's third world record in 2024, following 28.04% and 28.13%, and approaches 96.2% of the theoretical efficiency limit. The company also unveiled a 700W+ module based on this technology, indicating mass production readiness. The announcement comes amid a global solar industry downturn, with SolarPower Europe forecasting 2026 global installations at 612GW, an 8% decline from 2025. Separately, optical module maker Zhongji Innolight completed a nearly 50 billion yuan share buyback in 17 trading days, and the article notes that nine photovoltaic equipment stocks posted net profit growth in H1 2024, led by Tongxiang Technology (568.86% increase). Five Star Securities analysts suggest that industry supply-side consolidation and anti-involution policies are creating premium pricing for quality capacity.
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LONGi Green Energy Sets New World Record for Crystalline Silicon Cell Efficiency at 28.29%
This article from data provider DataBao, published on Tencent Stock, reports on two major corporate developments in China's technology and energy sectors. Zhongji Innolight (Zhongji Xuchuang) completed a nearly 50 billion yuan share buyback in just 17 trading days, far exceeding its previous 2022 buyback of 301 million yuan. The company plans to use the repurchased shares for equity incentives or employee stock ownership plans. Separately, LONGi Green Energy announced a new world record for crystalline silicon cell efficiency, reaching 28.29% for its HIBC battery, verified by Germany's ISFH institute. This is LONGi's third record this year, approaching 96.2% of the theoretical efficiency limit. The article notes that the global photovoltaic industry faces headwinds, with SolarPower Europe forecasting a rare 8% decline in new installations in 2026. In response, leading companies like LONGi, Trina Solar, and Tongwei are accelerating product innovation to capture market share. A Wanguo Securities report suggests that supply-side consolidation and anti-internal competition policies are creating premiums for high-quality capacity. The article also lists nine photovoltaic equipment stocks that posted net profit growth in the first half of the year, primarily in the auxiliary materials segment, and notes that 22 PV equipment stocks had QFII holdings as of June 30.
Read sourceCPO Leader Zhongji Innolight Completes Nearly 50 Billion Yuan Buyback; LONGi Breaks Solar Cell Efficiency Record
This article from Securities Times reports two major developments in China's technology and energy sectors. Zhongji Innolight (HK3308), a CPO (Co-packaged optics) leader, completed a share buyback of nearly 50 billion yuan in just 17 trading days, from September 1 to September 23, 2026. The buyback, which was for 0.48% of total shares, will be used for equity incentives or employee stock ownership plans. Separately, LONGi Green Energy (601012) announced a new world record for crystalline silicon solar cell efficiency, reaching 28.29% with its HIBC technology, as certified by ISFH. This is LONGi's third efficiency record this year, approaching the theoretical limit. The article also notes the photovoltaic industry is in a deep adjustment cycle, with global demand expected to contract in 2026 for the first time in over 20 years, according to SolarPower Europe. Despite this, some photovoltaic equipment stocks, particularly in the auxiliary materials segment, reported profit growth in the first half of the year.
LONGi Green Energy Breaks World Record for Crystalline Silicon Cell Efficiency, Nearing Theoretical Limit
This article from East Money reports on multiple developments in China's photovoltaic (PV) and technology sectors. LONGi Green Energy announced on September 24 that its independently developed high-low temperature composite passivated back contact (HIBC) cell achieved a world-record efficiency of 28.29%, verified by Germany's Hamelin Solar Energy Institute. This is LONGi's third record this year, approaching 96.2% of the theoretical limit. Separately, Zhongji Innolight completed a 49.97 billion yuan share buyback in just 17 trading days, with shares to be used for equity incentives. The article also notes that the global PV market faces a demand downturn, with SolarPower Europe forecasting a nearly 8% decline in 2026 installations, the first contraction in 20 years. Amid industry consolidation, top firms are accelerating product iteration toward high-efficiency and scenario-specific solutions. Data shows 22 A-share PV equipment companies had QFII holdings worth 45.27 billion yuan as of June 30, with Sungrow Power, TCL Zhonghuan, and Trina Solar leading. The article cites a Wukuang Securities report suggesting that supply-side natural clearing and anti-involution policies are creating premiums for high-quality capacity.
Read sourceCPO Leader Zhongji Innolight Completes Nearly 5 Billion Yuan Buyback in 17 Trading Days
This article from East Money News covers two major developments in China's photovoltaic (PV) and optical communications sectors. Zhongji Innolight (Zhongji Xuchuang) announced the completion of a nearly 50 billion yuan share buyback on September 24, 2026, executed in just 17 trading days. The repurchased shares, totaling 0.48% of the company's total equity, will be used for equity incentives. Separately, Longi Green Energy announced a new world record for crystalline silicon cell efficiency, achieving 28.29% with its HIBC (High-Low Temperature Composite Passivated Back Contact) cell, reaching 96.2% of the theoretical limit. This is Longi's third record this year. The article notes that the global PV industry is in a deep adjustment cycle, with demand expected to decline in 2026 for the first time in over 20 years. Amid this, leading companies are accelerating product iteration towards higher efficiency and scenario-specific applications. A research report from Wukong Securities suggests that supply-side consolidation and anti-involution policies are creating a premium for high-quality capacity. The article also lists nine PV equipment stocks with year-on-year profit growth in the first half of the year and highlights 22 stocks with QFII holdings.
Read sourceCrystalline silicon cell efficiency breaks world record again, nearing theoretical limit; 9 PV equipment stocks see H1 net profit growth
This article from East Money News reports on recent developments in China's A-share photovoltaic (PV) equipment sector. It highlights that LONGi Green Energy announced on September 24 a new world record for crystalline silicon cell efficiency, reaching 28.29%, which is 96.2% of the theoretical limit. This is LONGi's third record this year. Separately, Zhongji Innolight completed a nearly 50 billion yuan share buyback in 17 trading days, with its H1 net profit surging 214.7%. The article notes that the PV industry is in a deep adjustment cycle, with global demand growth slowing and supply-side consolidation underway. Wanguo Securities forecasts that industry supply-demand dynamics are improving, leading to valuation and earnings recovery for leading companies. Among 73 A-share PV equipment firms, only 9 reported H1 net profit growth, mainly in PV auxiliary materials. Foreign investment (QFII) was present in 22 of these stocks, with a combined market value of 45.27 billion yuan as of June 30.
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