Business is like a battlefield, there are no eternal friends, only eternal interests. After many years of cooperation, Tongwei, the king of photovoltaics, suddenly found that even though he had already opened up his equity and refrained from touching components for ten years, he was still stuck at the door of his peers.
That being the case, honest people have also played hooliganism, and it is not impossible to invest 20 billion yuan in silicon wafers.
In the semi-annual report published on August 21, Digital New Energy DNE noticed that Tongwei announced that the cost of silicon materials had been reduced to less than 40,000 yuan/ton. What is the concept of 40,000 yuan? Ccement. Com/richtext/IMG/yvid3ae0ijb1692926415438.png "> According to the 2022 National Silicon Material Production Capacity List compiled by our website in March this year, except for GCL Granular Silicon, Xinte Energy is second only to Tongwei. The cost of silicon materials in the first half of this year is about 6. If the new special is due to the cost increase caused by the overhaul in the first half of this year, it may be more comparable to the comparison
with Daquan Energy, another "master" of cost control in the industry . In 2023, Daquan disclosed in its semi-annual report that the cost of silicon materials was 5. To make a simple and crude calculation, if the production cost of 76833 25 tons of silicon materials sold by Daquan in the first half of this year was calculated according to Tongwei's maximum of 40000, it would bring 8 more to Daquan.
According to Liu Hanyuan, chairman of the board of directors of Tongwei, on the basis of the current 40000 tons, the eighth generation of Yongxiang Law will further reduce the unit cost of 2000 yuan to 3000 yuan per ton.
At this cost, only the former leader, Xiexin Science and Technology, the king of granular silicon, can fight against it. At the end of March 2023, the cash cost of granular silicon in Xuzhou base of Xiexin was about 34.24 million yuan/ton. Production cost is about 4.
Among the top four silicon material leaders, the net profit of Daqo Energy was 4.426 billion yuan, a year-on-year decrease of 53.53%; The net profit of Xinte Energy was 4.759 billion, with a year-on-year decline of 15.
On the road of cost reduction, Tongwei was far from satisfied. After building the moat of polysilicon industry, the company extended its tentacles to the upstream, and laid out 300000 + 400000 tons of industrial silicon projects in Damao Banner of Baotou City and Cangxi County of Guangyuan City. Among them, the first phase of the project is scheduled to be completed and put into operation by the end of 2024, when the cost of Tongwei silicon materials will be further reduced.
this year, Tongwei announced that the average conversion efficiency of the company's first 9 GW TNC battery production line has reached 25.7%, with a yield of 98.2%. The efficiency of the production line will be improved again on the existing basis. 
such an enterprise, which emphasizes professional division of labor, suddenly began to attack in the field of components, and quickly harvested the market with the strategy of dumping at low prices. On August 17, 2022
, Tongwei Yancheng Component Production Base
won the bid at the lowest price of 1.942 yuan/watt in the fifth batch of component collection of Huarun Electric Power, while the previous report of infolink on July 14 showed that the domestic component quotation was still rising. The average price has reached 2-2.
Subsequently, on September 6, in the third batch of photovoltaic modules purchased by Guangdong Electric Power Development Co., Ltd. in 2022 (Bid Section 1), Tongwei reported again on the 20th of the
same month. Tongwei once again included in the list of successful candidates for Datang Group's tender procurement of P-type and N-type photovoltaic modules in the fourth quarter of 2022 and Shaanxi's module bundling procurement in 2022-2023
one week later, Tongwei was not surprised to appear in the list of six shortlisted enterprises.
Not only in September, but also by the end of December last year, according to media reports, the quotation of all the winning projects in Tongwei was below 2 yuan/watt, while as of January 4 this year, the average price of domestic single crystal re-feeding was still at 17.
Tongwei has used the low price as a sharp weapon, which is invincible in the bidding of domestic ground power stations. On the other hand, within the enterprise, human, material and other resources are also constantly inclined to components, and the company has set up a whole team line-ups from production to sales in just half a year. Externally, all kinds of marketing continue to appear intensively in domestic, North American, European and other global photovoltaic exhibitions. At the 2023 SNEC exhibition in May
this year, The company officially launched TWMNG-72HD large rectangular components and TWMHF-66HD components based on the latest research results of TOPCOn and HJT battery technology.
Ten days later, the company signed a supply agreement with Hangzhou Haixing Electric Power Technology to jointly expand the South African market. After that, the European market was opened through supply contracts with China Machinery Import and Export (Group) Co., Ltd., European photovoltaic distributor PVO international, Austria Minlea and other enterprises.
Under the strategy of "low price" and "fast", the effect of Tongwei's hooliganism of "stirring shit stick" is obvious.
In 2022, in less than four months, Tongwei will accelerate the construction of advanced component production capacity around the three major manufacturing bases of Yancheng, Jintang and Nantong, and has formed 55GW component production capacity as of June 30. The target is 80GW by the end of the year.
Therefore, Tongwei, who wanted to be specialized, used "integration" as a weapon to start the "home protection" war.
04 Broken Dreams "Virtual Integration" can Only Be Dry Silicon Wafers! As Liu Hanyuan said, Tongwei had made efforts to avoid hand-to-hand combat. On August 21, on the same day of the announcement of the semi-annual report, Tongweihao threw 20 billion yuan to officially announce the completion of the final gap in integration-silicon wafers.
The company plans to build two bases in Leshan, Sichuan, supporting 32GW silicon rods, 32GW silicon wafers and 32GW battery capacity. The two projects are expected to be completed at the same time by the end of 2024 and reach production by the end of 2025.
that Tongwei will not enter the silicon wafer field for the time being." It is related to the duopoly of TCL Zhonghuan and Longji in the industry, and also takes into account the avoidance of direct competition with existing silicon customers.
However, the digital new energy DNE query found that in November 2020, Tongwei had entered the silicon wafer field in another way. On November 18 ,
2020, Tongwei joined hands with Trina Solar Energy to establish a joint venture
to jointly invest in a project with an annual output of 40000 tons of high-purity crystalline silicon, a project with an annual output of 15GW rods, a project with an annual output of 15GW chips and a project with an annual output of 15GW high-efficiency crystalline silicon batteries in Sichuan. Among them, Tongwei's Yongxiang shares hold 65% and Trina Solar holds 35%.
that Tongwei will not enter the silicon wafer field for the time being." It is related to the duopoly of TCL Zhonghuan and Longji in the industry, and also takes into account the avoidance of direct competition with existing silicon customers. 
. After that, Beijing Express..
Through nearly two years of vertical and horizontal cooperation, the photovoltaic head enterprises at that time have clearly formed two camps of "Xiexin + Central" and "Longji + Tongwei". Tongwei, who took the lead, gained a lot, filled the gap in the company's industrial chain peacefully after avoiding positive competition, and established the "Tongwei Model" of vertical integration.
This kind of leading group equity participation has become a trend in the photovoltaic industry before 2021. Silicon wafer enterprises such as Jingke, Tianhe and TCL Zhonghuan seek stable raw material supply upstream, while silicon material enterprises such as Tongwei and Xiexin seek deep lock-in with downstream. Chen Kangping, CEO
of Jingke Energy, said after the cooperation between Jingke and Tongwei. This strategic cooperation will be conducive to giving full play to the https://www.databm.
of both sides, but with the confrontation between the 182 and 210 camps and the subsequent internal differentiation, the leading group will build a "silicon wafer-battery-component" vertical integration model. With the advent of the wave of integration of single enterprises, they are gradually disintegrated.
Tongwei's accumulation in the past years has become more and more difficult to maintain, just as the industry ridiculed Tongwei's equity participation model as " virtual integration ", according to this definition, "virtual" is doomed not to last long, but after waking up. Photovoltaic giants are still hard to get rid of the fate of integration. Over the past
one or two hundred years, the industrial revolution has proved time and again that the division of labor can be more specialized, more refined and stronger, and the division of labor can make the industry progress faster. As Tongwei is about to complete the integration of the whole industrial chain from industrial silicon to power plants, Liu Hanyuan still emphasizes Tongwei's insistence on specialized division of labor, "If every link is done, it may lose its participation and grasp of the market in self-forgiveness and loss of competition again and again, and the bigger it is, the more mediocre it is.".
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