Tongwei warns of tight products supply amidst revenue jump

• Tongwei has actually warned of ongoing tight supply of solar PV materials after recording an enter 2021 revenue over of 50%.

Recently the upstream producer released its 2021 efficiency report, validating complete operating revenues to have jumped by 50.6% year-on-year to RMB66.6 billion (US$ 10.5 billion) and also net revenue to have greater than doubled to RMB8.2 billion, a new record for the company.

Both numbers remained in line with expectations released last month.

Nevertheless the maker warned that, having benefitted from the growth in demand for downstream products throughout 3031, high-purity silicon continue to be in short supply up until now this year, causing prices to have continued to boost.

Undoubtedly, despite falling somewhat at the start of the year, polysilicon rates have actually increased in current weeks.

Tongwei's high-purity silicon production capacity continues to perform at complete capacity as well as last year the firm offered a total amount of 107,700 lots of polysilicon, a boost of 24% on the overall in 2020. Its complete annual production capacity on the other hand stands at 180,000 tons, with Tongwei progressing strategies to increase that capacity.

A brand-new center in Baotou with a capacity of 50,000 tons is set to enter into operation this year, while Tongwei additionally means to buy 200,000 tons of polysilicon capacity in Leshan, about have of which capacity is expected to find onstream this year.

By the end of 2022, Tongwei said it expects to have polysilicon manufacturing capacity of 330,000 MT.

Additionally, Tongwei stated brand-new manufacturing centers will supply additional optimised manufacturing procedures, improving product quality while minimizing cost and enabling greater quantities of n-type polysilicon to be produced, providing for the solar market's much-anticipated change to n-type modules.

Tongwei is also planning to increase its cell manufacturing capacity after a year in which it said the division expanded continuously. With capacity expansions underway in Shuangliu, Jintang, Meishan and Hefei, Tongwei anticipates to end up 2022 with cell production capacity of around 55GW, compared to 40GW in 2021.

The company stated it expects to deliver around 30GW of cells in 2022.