Image: Jay Sterling Austin, Wikimedia Commons
Tongwei said its operating profit fell to CNY139.104 billion ($19.29 billion) in 2023, down 2.33% year-on-year. Net profit fell to CNY 13.574 billion, down 47.25%. Polysilicon sales volume increased 50.79% year on year to 387,200 tons. Solar cell sales increased 68.11% year over year to 80.66 GW, while module sales increased 292.08% year over year to 31.11 GW. By the end of 2023, the company had successfully reduced the average production cost of monocrystalline silicon to CNY 42,000/ton or less. This year, Tongwei plans to expand its polysilicon production capacity to more than 850,000 tons and its N-type cell production capacity to more than 100 GW. The 2024 target includes shipping 550,000 tons of polysilicon, 90 GW of solar cells and 50 GW of modules.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.