On the evening of May 10, Tongwei issued an announcement that the company's six subsidiaries recently signed high-purity polysilicon sales contracts with Longi and its nine subsidiaries. According to the contract, during the period 2024-2026, LONGi purchased no less than 862,400 tons of polysilicon in total from Tongwei.
Specifically, the purchase price is determined by both parties on a monthly basis. If calculated based on the average Chinese N-type polysilicon price announced by the Silicon Industry of China Nonferrous Metals Industry Association in the latest issue (May 8, 2024) of 45,300 yuan/ton, the total estimated value of this contract is approximately 39.1 billion yuan RMB (tax included). Tongwei said that this contract is conducive to the stability of the sales of the company's polysilicon products. It is in line with the company's future business plan, and has a positive impact on the company's operating performance.It is not the first time for Tongwei and Longi to sign the contract for the polysilicon order.
According to Tongwei's past announcements, the company signed sales contracts with LONGi Green Energy for 55,000 tons and 203,600 tons of high-purity polysilicon in 2018 and 2022 respectively.
Not long before Tongwei signed this long-term polysilicon order with LONGi, GCL Technology also announced that it had signed a three-year long-term agreement with LONGi Green Energy to purchase 425,000 tons of polysilicon materials (granular silicon). The signing of this "large-scale" long-term order between Tongwei and LONGi also indicates that the cooperation between the two parties will continue to develop in depth, which responds to the outside world's doubts about the impact of granular silicon on the cooperative relationship between the two parties.