24, 100 billion photovoltaic giant Tongwei shares announced a series of announcements, and the amount of information was bursting.
In addition to the annual report of 2022 and the quarterly report of 2023, it also announced a huge fixed increase plan-the announcement of raising 16 billion yuan to expand the production of polysilicon projects.
Company announcement:
In 2022, Tongwei achieved revenue of 142.423 billion yuan, an increase of 119.69% over the previous year; net profit attributable to parent company of 25.726 billion yuan, an increase of 217.25% over the previous year. In the
first quarter of 2023, the Company achieved a revenue of RMB33.245 billion, representing a year-on-year increase of 34.67%, and a net profit attributable to parent company of RMB8.601 billion, representing a year-on-year increase of 65.59%.
It raised 16 billion yuan to expand the production capacity of 400000 tons of silicon materials.
In addition, more "eye-catching" than "attracting money" is that Tongwei shares also took out more than half of last year's profit dividends.
The announcement shows that Tongwei plans to distribute a cash dividend of 28.58 yuan (including tax) per 10 shares to all shareholders, totaling 12.867 billion yuan (including tax), accounting for 50.01% of the net profit of the company's consolidated statement in 2022.
According to the annual report of Tongwei, in 2022, the company achieved a revenue of 142.423 billion yuan, an increase of 119.69% over the previous year, and a net profit of 25.726 billion yuan, an increase of 217.25% over the previous year.
Among the major sectors, polysilicon business contributes the most to profits. Stimulated
by the conflict between Russia and Ukraine, the energy transformation accelerated, the global demand for photovoltaic terminal installation exceeded expectations in 2022, the supply of high-purity silicon products was in short supply, the price rose year-on-year and maintained a high level, and the profit level of high-purity silicon in Tongwei shares reached a record high.
The report shows that Tongwei achieved 256,800 tons of high-purity silicon sales in 2022, an increase of 138.41% over the same period last year. Realized operating income of 61.855 billion yuan, an increase of 229.70% over the previous year, accounting for 43% of the total revenue. In terms of gross profit rate, the gross profit rate of high-purity silicon and chemical industry reached 75.13%.
Tongwei shares said that up to now, the company has gradually recovered all the investment costs of high-purity silicon business. In terms of
capacity construction, in 2022, Inner Mongolia Tongwei Phase II 50000 tons project reached production ahead of schedule, and the company is also promoting the construction of Yongxiang Energy Science and Technology Phase I 120000 tons project, which is expected to be put into operation in the third quarter of 2023, when the company's annual production capacity of high-purity silicon will exceed 380000 tons.
In the annual report of Tongwei Stock Company, the second largest business in revenue is solar cells, modules and related businesses, with operating income of 53.526 billion yuan, accounting for 37.58% of the total revenue, and gross interest rate of 10.19%.
Last August, Tongwei shares suddenly entered the manufacturing end of photovoltaic modules, accelerating the overall layout, and achieving rapid landing of production capacity.
The company said that through the technical transformation of the polycrystalline battery workshop of the original Hefei base, Tongwei realized the smooth offline of the "8GW photovoltaic intelligent factory technical transformation project" in three months, and the module production capacity jumped to & nbsp; 14 GW.
In 2022, the company's component sales volume was 7.94 GW (including OEM), an increase of 226.06% over the same period last year. According to InfoLink Consulting, the company's component shipments have entered the top ten in the world.
At present, the company has started Yancheng, Jintang, Nantong and other component projects, according to the project investment plan, the company's component production capacity is expected to reach 80GW by the end of 2023. In terms of
batteries, Tongwei continued to rank first in the world in terms of solar cell shipments in 2022, and became the first battery manufacturer in the industry with cumulative shipments exceeding 100GW. At present, the company's annual production capacity has exceeded 70 GW, and large-size production capacity accounts for more than 95%.
In 2024-2026, Tongwei expects that the cumulative capacity of solar cells will reach 130-150 GW. On the evening
of April 24, Tongwei shares, together with the annual report and the first quarterly report, threw out a major news and a fixed increase plan of 160 yuan. The company intends to raise no more than 16 billion yuan for 200000 tons of high-purity silicon project and Yunnan Tongwei Hydropower Silicon Material High-purity Silicon Project (Phase II 200000 tons/year high-purity silicon project). The total investment of the
two projects is about 10.1 billion yuan, and the funds raised are planned to be 9.4 billion yuan and 6.6 billion yuan respectively.
The company said that through this issue, the company's high-purity silicon production capacity will be further enhanced to help achieve the company's business development planning objectives, effectively enhance the company's comprehensive strength, further enhance the overall profitability, consolidate the market position, and highlight the brand influence.
According to the company's 2022 annual report, last year, the company announced investment plans for 200000 tons of high-purity silicon and supporting projects in Tongwei Silicon Energy, Inner Mongolia, and 200000 tons of high-purity silicon and supporting projects in Tongwei Phase II, Yunnan. Perhaps it is the main project of this fixed increase plan.
According to the plan, the cumulative production capacity of high-purity silicon in Tongwei from 2024 to 2026 will reach 800000 tons to 1 million tons respectively.
As the most profitable company in the photovoltaic industry , Tongwei shares have continued to enjoy the dividend of soaring silicon prices in recent years, and now it continues to increase the polysilicon business, component business "make up for shortcomings", and also start the "reinforcement" of other links. It is not only the continuous consolidation of hegemony, but also the last resort. Stimulated
by soaring prices in recent years, a large number of new and old players have entered the photovoltaic manufacturing sector since 2020, investing heavily in expanding production. The industry predicts that polysilicon production capacity will gradually enter the era of excess, which will inevitably drag down the "profitability" of the entire photovoltaic industry chain.
At that time, Tongwei shares, which have completed the "integration" layout, will inevitably take the initiative steadily.
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