Benefitting from Rapidly Developing PV Industry, Tongwei Predicts A Surge in Its 2022 Profits

Tongwei released its performance forecast for 2022. It is estimated that its net profit in 2022 stood at 25.2-27.2 billion yuan, a year-on-year increase of 207%-231%.

Regarding the performance changes, Tongwei said that the main reason is that benefiting from the continuous and rapid development of the photovoltaic industry, there was strong demand for high-purity crystalline silicon and solar cell products in 2022. The company's high-purity crystalline silicon production line continued to operate at full capacity last year, and new projects were quickly put into production and reached full capacity, enabling its production and profit to achieve 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.