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.
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