PVTIME – Tongwei Co., Ltd. (SH.600438) disclosed its preliminary earnings estimate for the year of 2022.
For the year ended December 31, 2022, Tongwei estimates that (i) its net profit attributable to the shareholders in 2022 would be in the range of RMB 25.2~27.2 billion yuan, representing a 207% -231% increase as compared to that in 2021, and (ii) the preliminary unaudited net income attributable to the shareholders of Tongwei excluding nonrecurring gains and losses is estimated to be in the range of RMB 26~28 billion, increasing by 206% -230% year over year.
The main reason for the change in performance was benefited from the high demand of high-purity crystal silicon and solar cell products results from sustained and rapid development of the photovoltaic power industry in the year of 2022. Tongwei’s product structure was further optimized and its production capacity of solar cells was expanded to meet the needs of the industry, therefore, a significantly improved profit was gained in 2022.
 disclosed its preliminary earnings estimate for the year of 2022. For the year ended December 31, 2022, Tongwei estimates that (i) its net profit attributable…){kind=link}