PVTIME – Tongwei Co., Ltd. (hereinafer referred to as “Tongwei” or the “Company”) issued its Performance Forecast for 2021 on January 6, 2022.
According to the announcement, it is estimated that the net profit attributable to shareholders of listed companies will be RMB 8-8.5 billion in 2021, a year-on-year increase of 122%-136%. After deducting non-recurring gains and losses, the company expects to achieve a net profit attributable to shareholders of listed companies of RMB 8-8.5 billion in 2021, a year-on-year increase of 232%-253%.
Data shown that Tongwei’s net profit in Q1 was 847 million yuan, that of Q2 was 2.119 billion yuan, and in Q3 it was 2.979 billion yuan, maintaining a quarter-on-quarter growth for two consecutive quarters. According to the announcement of this performance increase, Tongwei’s net profit in Q4 is expected to be 2.055-2.555 billion yuan, failing to continue to exceed the Q3 performance.
In Q4, Tongwei’s silicon material projects have been put into production one after another, increasing its silicon material production capacity from 80,000MT at the end of 2020 to 180,000MT at the end of 2021. This will meet the demands of silicon materials in China as well as the needs for further increase in revenue of the company.
It is estimated based on current silicon material prices that Tongwei’s net profit in Q1 2022 is likely to continue to be more than 2 billion yuan, or even exceed 3 billion yuan.
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