PVTIME – On March 27, Tongwei Co.,Ltd.(600438.SH) released its performance forecast with an expected increase of 4.053-4.353 billion yuan for its net profit attributable to shareholders of listed companies in the first quarter of 2022 compared with the same period of last year, and reaching a year-on-year increase of 478%~514%.
Tongwei stated that the main reasons for the change in performance were its expanded production capacity of silicon materials and the sharp rising prices resulted from dramatically increased of the demands for polysilicon products, which due to the beyond expectation of installed photovoltaic capacity over the world during the reporting period.
On March 23, Tongwei stated on a Stock Interactive Platform that the company’s high-purity crystalline silicon production capacity will reach 330,000 MT by the end of 2022 as its production capacity for silicon material is 180,000 MT so far, and the production capacity under construction is 150,000 MT.
