Quzhou LONGi honored as innovative leading firm

Zhejiang LONGi Solar Technology Co makes its debut at BePOSITIVE, an energy exhibition held in Lyon, France, from Feb 13 to 15. [Photo/longi-solar.com]

Zhejiang LONGi Solar Technology Co in Quzhou, Zhejiang province was recently named a provincial innovative leading company along with other 14 hi-tech ventures, according to the Quzhou Science and Technology Bureau.

The innovative leading companies refer to those with a strong capacity for independent innovation, advanced research and development (R&D) and a huge development potential.

Their research input should have taken up more than 4 percent of their main business revenue for the latest three consecutive years and their annual sales volume should stand at more than 500 million yuan ($72.47 million).

"In recent years, we have invested 100 to 200 million yuan in R&D and we will continue to increase our investment in the field in the coming year," said Ye Zhiqing, president of Zhejiang LONGi.

2018 was a rough year for many Chinese solar companies because of the massive cuts in financial subsidies from China's central government while Zhejiang LONGi's products fell short of demand.

Ye noted that because the costs of their high-efficiency solar cells and modules are lower than most of their competitors', they survived the massive financial subsidy cuts.

LONGi Solar, a world leading manufacturer of high-efficiency mono-crystalline solar cells and modules, has been focusing on MONO for 18 years with total assets more than $5.23 billion.

The company has its headquarters in Xi'an and branches in other Chinese cities, including Quzhou, Japan, India, Malaysia, and other countries.