Net Profit 8.208 Billion Yuan! Tongwei Discloses Performance 2021 and Q1 2022 Results

PVTIME – On April 26, Tongwei Co.,Ltd.(600438.SH) disclosed its annual performance report that the operating income in 2021 was about 63.491 billion yuan, increasing 43.64% year over year. The net profit attributable to shareholders of listed companies was about 8.208 billion yuan, increasing 127.5% year over year. The basic earnings per share was 1.8234 yuan, a year-on-year increase of 112.49%. It is proposed to distribute a cash dividend of 9.12 yuan (tax included) for every 10 shares.

From January to December 2021, the photovoltaic business accounted for 60.14% of Tongwei’s operating income, agriculture and animal husbandry business accounted for 38.73%, and internal offset accounted for -0.01%.

By the end of 2021, the accumulated production capacity of high-purity silicon was 180,000 MT, which is expected to reach 350,000 MT as two of Tongwei’s high-purity silicon projects to be put into production in 2023. Meanwhile, the accumulated production capacity of solar cells was 45GW by the end of 2021, and is planned to reach 102GW as two of its solar cell projects to be completed in 2023.

Tongwei will exceed its four-year mid-term planning targets according to its recent performance. It plans to reach 80-100 million MT and 130-150GW of cumulative production capacity of high-purity crystalline silicon and solar cells respectively in 2024-2026, based on its current technology and costs.

Moreover, in the results of Q1 2022 announcement released on April 26, Tongwei’s revenue in the first quarter of 2022 was about 24.685 billion yuan, the net profit was about 5.194 billion yuan, and the basic earnings per share was 1.1539 yuan.