Chinese billionaire Li Zhenguo has stepped down from day-to-day management of Longi, the solar giant he founded, amid industry turmoil marked by falling profits and overcapacity. He will focus on research and development while retaining his controlling shareholder status; however, Longi’s shares have plummeted nearly 80% from their late 2021 peak. The company, along with other major Chinese solar firms, has reported consecutive quarterly losses, with projections indicating persistent overcapacity and slow demand growth through 2028.
