On November 5, Tongwei Co., Ltd. released a record of investor relations activities. On November 4, 2024, it held its Q3 2024 earnings call, where company executives addressed questions from a broad group of investors. The meeting included participation from Tongwei's Chairman and CEO, Liu Shuqi; Chief Technology Officer for Photovoltaic Technology and Director of the National-Level Technology Center at Tongwei Solar (Chengdu) Co., Ltd., Xing Guoqiang; Board Secretary, Yan Ke; and Chief Financial Officer, Zhou Bin.
During the meeting, Tongwei disclosed that it has completed all PERC production line upgrades, with some lines still in the debugging and ramp-up phase post-upgrade. Additionally, its new 25GW TNC cell project in Shuangliu has gradually commenced production, with Tongwei’s N-type cell capacity expected to exceed 100GW by the end of the year.
Regarding the third phase of the Inner Mongolia 200,000-ton polysilicon project, Tongwei stated that this project has also started production and is currently in the ramp-up phase.
On the topic of production scheduling, Tongwei noted that the fourth quarter is typically a peak season for bidding and order fulfillment, and production scheduling has increased slightly since the start of the quarter but remains generally stable.
In terms of the overseas market, when asked whether the company would consider directly exporting polysilicon, Tongwei pointed out that global wafer capacity is primarily concentrated in China, and that its polysilicon sales are mainly conducted through long-term agreements with domestic downstream wafer manufacturers.
Tongwei also mentioned that in recent years, its module shipments to overseas markets have grown significantly faster than the industry average, with its monthly overseas module exports gradually increasing to about 10% this year. As for potential U.S. capacity expansion, Tongwei noted that it has conducted multiple preliminary research assessments, focusing on global trade policies, stability of production factors, industry support, investment intensity, and cooperation models. However, with considerable uncertainty in U.S. trade policy, Tongwei aims to adopt a cautious approach to global expansion, with specific project plans subject to future company announcements.
Regarding the energy storage sector, Tongwei stated that it remains focused on its core photovoltaic business and has no plans to aggressively expand into the energy storage sector.
Source：https://mp.weixin.qq.com/s/mV0D-aE72mFWvZEEddGyMA
