Born in 1968, Li Zhenguo studied physics at Lanzhou University with his future partner Zhong Baoshen.
The formal opening ceremony of Lanzhou University was held before the statue of its president, Jiang Longji. His inspirational life story planted the seeds of a long-cherished dream in their hearts: name their future company LONGi. After graduation, Li Zhenguo was assigned to the state-owned Huashan Semiconductor Factory. A factory directly affiliated with former Ministry of Metallurgical Industry. He then held positions of Operations Manager of Shanxi Wenxi Xinda Electronic Parts Factory and Manager of Single Crystal Base Factory of Xi’an University of Technology.
In 2000, Li Zhenguo and his partner founded Longi’s predecessor, Xi’an Xinmeng Electronic Technology Co.
LONGi entered the solar industry in 2006. Over the years, Longi Green Group has become known for its advanced technology. Longi Green has developed monocrystalline (mono) silicon technologies, a more efficient energy conversion that has become standard in solar technology (over 85% market share). The group has also become the world leader in wafers (46% market share) and solar panels (19% market share). LONGi Green is now the world’s leading producer of solar energy.
From the very beginning, Li Zhenguo had a big vision by launching different subsidiaries all specialized in a core business.
In 2007, Li Zhenguo and his partner paid tribute to their youthful dream by renaming the company LONGi. In 2011, they launched the LONGi Research and Development Center convinced that innovation would be a game changer. Year 2012 was an important year with Longi’s listing on the Shanghai Stock Exchange. Market capitalization has since multiplied by more than 40 times and now reaches $50bn. In 2020, LONGi was designated as the “solar solution supplier” for the China Pavilion at EXPO 2020 Dubai, UAE. In the same year, «LONGi Roof», the company’s first BIPV (building-integrated photovoltaic solution) product, went into production. In 2021, Li launched Xi’an LONGi Hydrogen Energy Technology Co, Ltd. and embarked on large-scale hydrogen production through water electrolysis.
« Our next goal is to raise more awareness and accelerate the adoption of solar energy.»
LONGi bases its development on the «Solar for Solar» model. While creating low-cost clean energy-based products for the world, company uses clean energy and green manufacturing practices as much as possible. In 2018, Li proposed the concept at the 24th United Nations Climate Change Conference, drawing worldwide attention.
From a CSR perspective, LONGi group has also committed to making its energy consumption 100% renewable by 2028, up from 45% in 2020. LONGi has also published a sustainability report for the year 2021.
Li Zhenguo has been involved in many philanthropic programs, such as post-earthquake reconstruction of Yushu City or donations to children with congenital heart disease. He has also supported low-income students at Lanzhou University and other institutions. The leader is also a sponsor of the LONGi 1% Foundation of the Red Cross of China.
Li and his wife control 19.1% of LONGi group. For the past three years, Li Zhenguo has been ranked 3rd in the China Best CEOs.
« Our major objective is to reduce the cost and therefore the price of mono wafers through continuous technological innovations, making the solar sector more competitive against traditional energy.»
IN A FEW FIGURES
- Headquarters in Xi’an, Shaanxi, China 49 970 employees
- Revenue 2022: $17bn
- Revenue allocation : China (53,2%), Asia-Pacific (16,3%), LATAM (16,1%), Europe (14,1%) et Africa (0,3%)
- Net profit 2022: $2bn
- Market capitalisation: $50bn
- 1000 researchers
- 1387 patents
LONGI GREEN SUBSIDIARIES
- Xi’an LONGi Silicon Technology
- Xi’an Lumei Single Crystal Silicon
- Xi’an Tongxin Semiconductor Accessories
- Xi’an LONGi Hydrogen Energy Technology Co., Ltd.
- Xi’an LONGi New Energy Co., Ltd. (anciennement LERRI Solar Energy)
- Xi’an LONGi Clean Energy Co., Ltd.,
At 54, Li Zhenguo is head of Longi Green, one of China’s largest solar panel manufacturers. The businessman has a fortune of more than $9bn.