TCL Zhonghuan Releases Financial Report 2022

PVTIME – On 28 March, TCL Zhonghuan (002129.SZ), a leading PV silicon wafer company, released its 2022 annual report.

The report shows that in 2022, the company achieved operating revenue of 67.010 billion yuan, up 63.02% year on year, and net profit attributable to parent company of 6.819 billion yuan, up 69.21% year on year. Its operating revenue in 2022 has exceeded the sum of annual revenue in 2020 and 2021, and its net profit attributable to the parent company is also much higher than the sum of 2018 to 2021.

At the same time, TCL Zhonghuan’s total assets exceeded 100 billion yuan for the first time, reaching 109.133 billion yuan, an increase of 39.95% year on year.

According to the report, its revenue in 2022 came from the new energy photovoltaic industry and other silicon materials industry. Among them, its revenue from the photovoltaic industry reached 62.36 billion yuan, accounting for 93.06% of the total revenue.

In addition, TCL Zhonghuan produced 10.84 billion pieces of wafers in 2022, up 31.51% year on year, and sold 10.65 billion pieces of wafers (about 6.8GW), up 29.64% year on year. Silicon wafers were the largest source of revenue for the company, with revenue of approximately 50.9 billion yuan, accounting for approximately 76% of the total. Module revenue was 10.84 billion yuan, up 77.2% year on year.

By the end of December 2022, TCL Zhonghuan’s total monocrystalline production capacity had increased to 140GW, up 59% year-on-year, and its production and sales scale had increased by 31% year-on-year, with an overseas market share of over 60%. The company expects the total planned monocrystalline production capacity to exceed 180GW by the end of 2023, once the Ningxia Phase VI project becomes operational.