39.1 Billion Yuan! Tongwei and LONGi Ink Deal for 862,400 Tonnes of High-purity Silicon

PVTIME – On 10 May 2024, Tongwei Co., Ltd. (Tongwei, 600438.SH), a leading company engaged in the R&D, manufacturing and marketing of solar core products, announced a silicon product supply agreement signed between Tongwei and PV giant LONGi.

According to the announcement, six subsidiaries of Tongwei will supply no less than 862,400 metric tonnes of high-purity polysilicon products to LONGi and nine of its subsidiaries from 2024 to 2026.

Prices will be determined through monthly negotiations. The total sales price is estimated to be 39.1 billion yuan, including taxes, calculated according to the average price of n-type material of 45,300 yuan per metric tonne as published by China Silicon Industry on 8 May 2024.

This new order is beneficial for the stable sales of silicon products and will be positive for Tongwei’s future performance.

According to the precious announcement, Tongwei had won two large orders of high-purity silicon products from LONGi, 55,000 metric tonnes in 2018 and 203,600 metric tonnes in 2022.

In addition, in April 2024, LONGi had signed a long-term polysilicon purchase agreement with Zhongneng Polysilicon, a subsidiary of GCL as well as a China-based high-purity polysilicon producer, for 425,000 metric tonnes of polysilicon or granular silicon from 2024 to 2026. In 2024, 125,000 metric tonnes of polysilicon or granular silicon will be supplied to LONGi, followed by 150,000metric tonnes in 2025 and 150,000 metric tonnes in 2026.  

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