Photovoltaic leader Tongwei Co., Ltd. (600438) disclosed its main operating data from January to March on the evening of April 9. According to the company’s preliminary calculations, from January to March 2023, the company’s operating income will be about 35 billion to 36 billion yuan, a year-on-year increase of about 42%. -46%; realized net profit of about 8.3-8.7 billion yuan, a year-on-year increase of about 60%-68%.
According to Tongwei, from January to March, the photovoltaic industry continued to maintain rapid growth. The company’s main photovoltaic products are booming in production and sales, and each business segment operates efficiently, achieving good performance results.
In 2022, Tongwei will continue to increase investment in new energy. For example, in March 2022, Tongwei announced that Tongwei Solar Energy Co., Ltd., a subsidiary of the company, intends to invest in the construction of a 32GW high-efficiency crystalline silicon battery project in Meishan Tianfu New District. The project will be implemented in two phases, with a total investment estimated at 12 billion yuan. Among them, the first phase of the 16GW battery project has an investment of about 6 billion yuan, and strives to be put into production before the end of December 2023. The second phase of the 16GW battery project will be launched according to the agreement.
In August 2022, Tongwei Co., Ltd. announced that it plans to build high-purity crystalline silicon and supporting projects with an annual output of 200,000 tons in Baotou City and Baoshan City. A month later, Tongwei announced that it planned to build a high-efficiency photovoltaic module manufacturing base project with an annual output of 25GW in Yancheng City. The investment in fixed assets of the project is about 4 billion yuan. The construction period of the project is expected to be within 24 months.
Tongwei Co., Ltd. announced on the evening of December 12, 2022 that the company intends to sign the “High-efficiency Photovoltaic Module Manufacturing Base Project Investment Agreement” with the Management Committee of Nantong Economic and Technological Development Zone, and the company will invest in the construction of high-efficiency photovoltaic modules with an annual output of 25GW in Nantong Development Zone. The manufacturing base project has reached a cooperation. The project is expected to invest about 4 billion yuan in fixed assets. It is planned to start construction in 2023 and strive to be put into production before the end of 2023.
While Tongwei is increasing its investment in the new energy field, the company also frequently signs major sales contracts.
For example, on March 22, 2022, Tongwei announced that it had signed a polysilicon long-order purchase agreement with 8 subsidiaries of Longji. Its four subsidiaries purchased 203,600 tons of polysilicon products.
On June 23, 2022, Tongwei announced that it signed a long-term polysilicon sales contract with Yuze Semiconductor (Yunnan) Co., Ltd. The contract stipulates that during the period from 2022 to 2026, Yunnan Yuze plans to purchase from five subsidiaries of the company in total 161,100 tons of polysilicon products.
On September 10, 2022, the company announced that it signed a long-term polysilicon sales contract with JinkoSolar Co., Ltd. and its subsidiaries. The contract stipulates that during the period from September 2022 to December 2026, JinkoSolar and its subsidiaries plan to The five subsidiaries of the company purchased about 382,800 tons of polysilicon products in total.
The scheduled disclosure dates for Tongwei’s 2022 annual report and 2023 first quarter report are both on April 25. Tongwei Co., Ltd., which is booming in production and sales, also has a lot of business performance.
Tongwei previously disclosed its performance forecast for 2022. It is expected that the net profit for the whole year of 2022 will increase by 17-19 billion yuan compared with the same period of the previous year, a year-on-year increase of 207%-231%.
Regarding the reasons for the performance changes in 2022, Tongwei said that benefiting from the continuous and rapid development of the photovoltaic industry, the demand for high-purity crystalline silicon and solar cell products will be strong in 2022. The company’s high-purity crystalline silicon production line continued to operate at full capacity, various production indicators were further optimized, new projects were quickly put into production and reached production capacity, and the volume and profit achieved a substantial increase year-on-year; the scale of solar cell production capacity continued to expand, the product structure was further optimized, and the profit increased significantly year-on-year. At the same time, the company’s agriculture and animal husbandry business has developed steadily, and sales have achieved new breakthroughs.
It is worth mentioning that Tongwei announced on the evening of March 21 this year that the company’s chairman and CEO Xie Yi resigned and no longer held any other positions in the company. Liu Shuqi took over these two positions. According to e-company reports, Liu Shuqi is the daughter of Liu Hanyuan, the actual controller of Tongwei Co., Ltd.