165GW! TCL Zhonghuan Release Its Financial Report H1 2023

PVTIME – On 28th August 2023, TCL Zhonghuan Renewable Energy Technology Co., Ltd. (002129.SZ), a leading manufacturer and distributor of discrete semiconductor devices, disclosed that it earned a revenue of 34.898 billion yuan for the first half of 2023, representing a 10.09% increase year-on-year. Meanwhile, its net profit was 4.536 billion yuan in the reporting period, an increase of 55.5% year-on-year.

In addition, by the end of June 2023, TCL Zhonghuan’s production capacity for monocrystalline rose to 165GW, which is projected to increase to 180GW by the end of 2023. 2GW production capacity of cells was added via its completion of the demonstration line of G12 cell project in Jiangsu Province while another 25GW of solar cell production capacity is ongoing as the smart factory 4.0 is under construction. Furthermore, 9GW of G12 high-efficiency stacked modules was added in Jiangsu Province, and 3GW of the same module was allocated in the first phase of production base in Tianjin City of China while the second phase is accelerated.

The company invested 1.815 billion yuan in research and development during the first half of the year, which represents an 11.2% increase. It said that to reduce costs, provide reliable products to customers, and maintain its leading position in the industry, the company must innovate its technology.

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