On November 11, TBEA released the record of investor relations activities for the third quarter performance presentation. Huang Hanjie, director and general manager of the company, Zou Baoju, independent director, Bai Yungang, chief accountant, and Jiao Haihua, secretary of the board of directors, responded to questions on investor relations.
TBEA disclosed that the price of polysilicon rebounded in the third quarter, and enterprises with large inventory gained excess returns when the price of polysilicon rose. However, due to the company 's low output and the implementation of the business strategy of selling out, some orders were executed in the third quarter, resulting in a gap between the company's performance and that of the same industry.
At the same time, the company disclosed that at present, the crystalline silicon base is in full production , and a production line in the Zhunte base is in full production . "The company will reasonably allocate production capacity to meet the needs of downstream customers according to market supply and demand.". The company will actively support the special management of anti-involution in the industry and jointly safeguard the sustainable development of the industry.
Regarding the questions related to polysilicon storage, TBEA said that the related work is still under communication and discussion.
The original text is as follows:
1. How is the polysilicon business in the third quarter? Will the polysilicon business turn a profit in the fourth quarter? Due to the low output of the company and the implementation of the business strategy of full sales, some orders were executed in the third quarter, resulting in a gap between the company's performance and that of the same industry. At present, the company's crystalline silicon base is in full production, a production line in Zhunte base has been in full production, and the cost and quality have reached the target value. The company will reasonably allocate production capacity to meet the needs of downstream customers according to market supply and demand. The company will actively support the special management of anti-involution in the industry and jointly safeguard the sustainable development of the industry.
2. At present, is the relevant unit of the transformer in full production? How long is the average lead time? Does the company have any orders from North America? The company has orders from North America.
3. What is the development of the company's Middle East business?
4. What is the comprehensive strength of the company's solid-state transformers in China? The company has accumulated technology in the application of wide bandgap semiconductor devices and the R & D and manufacturing of solid-state transformers, and continues to deepen related technology research to improve product power density and conversion efficiency. We will continue to pay attention to market dynamics and promote the industrialization of relevant technological achievements in a timely manner.
5. At present, what is the proportion of the company's transformer orders at home and abroad? 2.4 billion yuan, the international contract
12.6, the company's third quarter performance, the reason for the decline in non-net profit? Is the company confident that the fourth quarter performance will grow by more than 30%? With the promotion of anti-involution in the polysilicon industry, the price of polysilicon has stopped falling and rebounded, which has a positive contribution to the company's fourth quarter performance.
7. In the context of rising copper prices, does the company plan to increase the proportion of aluminium in its products in the future? The company uses futures hedging to cope with fluctuations in raw material prices.
8. In the case of full production of transformers, does the company plan to acquire other qualified manufacturers to increase production capacity?
9. As of November 6, whether the Yajiang Hydropower Station has won the bid for UHV and what is the amount of the bid? As the core supplier of power transmission and transformation equipment in China, the company can provide products including transformers, wires, cables and cable accessories, switches, capacitors, reactors and so on. The company will continue to closely track the progress of the project, increase product research and development efforts according to customer needs, and actively participate in the bidding of related products.
10. There are rumors that polysilicon production capacity is in the first phase of storage. Is the company a participant? How much money does the company prepare to participate in the collection? Will we participate in the second phase of storage next year? How many tons of polysilicon production capacity do we store?
11. Current situation of the company's energy storage business. Does the company plan to develop the energy storage business rapidly and vigorously?
12. What is the progress of nuclear increase of coal production capacity?
13. How much did the average coal price of Tianchi Energy drop in the first three quarters compared with the same period last year? What is the proportion of Xinjiang coal sold out of Xinjiang? In the first three quarters of 2025, the company's coal sales were basically the same as the same period last year, and coal sales outside Xinjiang accounted for more than 20% of the total coal sales.
14. May I ask about the rise in coal prices in Xinjiang in the fourth quarter? How much has it improved the company's business performance?
15. Can 2 billion cubic meters coal-to-gas project of Tianchi Energy be completed in 2026?
16. What is the approximate completion and commissioning time of the company's alumina project in Fangchenggang, Guangxi? What are the estimated economic benefits of the project after it is put into production? What is the approximate completion and commissioning time of Xinjiang Coal Chemical Project? What are the estimated economic benefits of the project after it is put into production?
17. What is the approximate completion time and operation time of the company's Amalia Hydropower Station in Guinea?
18. Does the overseas gold mining and smelting business belong to TBEA Group or the listed company? How many tons of gold did your company produce and sell in the first three quarters? According to the current production scale, the company's gold business is expected to produce about 3 tons of gold metal in 2025.
19. What is the company's dividend plan? Due to the difficulties faced by the polysilicon industry, the company's dividend ratio was relatively reduced in 2023, but the total dividend was still 1 billion yuan. The specific dividend plan in the future will be formulated after taking into account the company's profitability, future development capital needs, balancing investor returns and the company's long-term development and other factors.
20. Does the company have any plans to raise the stock price?
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