LONGi Selected into “New China Nifty 50” by Goldman Sachs
BEIJING, Oct. 30, 2017 /PRNewswire/ — Recently, the world’s largest investment bank Goldman Sachs selected 50 stocks reflecting the Chinese economy at the new stage, known as the “New China Nifty 50”. LONGi Green Energy Technology Co., Ltd. (SHA: 601012) is the only enterprise selected from the new energy industry. A “Nifty 50” stock should meet three conditions: a net profit growth rate higher than 15%, a rate of return on common stockholders’ equity (ROE) higher than 15% for three consecutive years, and a price to earnings ratio (P/E ratio) lower than 35. A “New China Nifty 50” stock should have an even higher growth rate, higher profit and lower financial leverage.
LONGi, the world’s largest manufacturer of monocrystalline silicon products, has been acclaimed by the capital market and become the world’s largest photovoltaic manufacturer.
LONGi’s stock price trend and potential value reflect the growing demand for monocrystalline PV products stimulated by the growth of distributed PV, the expansion of Top Runner Program, and the development of poverty alleviation photovoltaic projects in the industry. Facing the fierce competition in the photovoltaic industry, on the one hand, LONGi has been expanding the capacity to address the robust market demand. On the other hand, LONGi has continuously improved the technical level of monocrystalline silicon wafer, cell and module with technology as the core competitiveness, and its monocrystalline product technology has always been in the industry leading position. It is these factors that have made LONGi the only enterprise in the new energy industry which was selected into the “New China Nifty 50” list of Goldman Sachs.