On April 8, Tongwei Co., Ltd. (600438) announced significant progress in its photovoltaic module business. The company’s shipments for 2023 reached an impressive 45.71 GW, placing it among the top five globally for the first time. This marks a year-on-year increase of 46.91% for 2024.
Recently, Tongwei has signed multiple large sales agreements, securing a total capacity of 1,036 MW. These agreements include partnerships with PVO International B.V., European Energy A/S, Gransolar, R. Power S.A., and Hangzhou Haixing Power Technology Co., Ltd.. Additionally, the company has won a bid for a 586 MW centralized procurement project for photovoltaic module equipment from Guohua Energy Investment Co., Ltd. and has qualified for multiple photovoltaic module framework procurement projects with organizations such as China Datang Corporation, Three Gorges Materials Tendering Management Co., Ltd., and South-to-North Water Diversion Central Line New Energy (Beijing) Co., Ltd., with a total capacity exceeding 22.7 GW.
According to Tianyancha, Tongwei Co., Ltd. was established on December 8, 1995, with a registered capital of 4.501973746 billion RMB. The legal representative is Liu Shuqin, and the company’s registered address is located at 588 Tianfu Avenue Middle Section, Chengdu High-tech Zone, Sichuan Free Trade Experimental Zone, China. The company specializes in the research, development, production, and sales of aquatic feed, livestock and poultry feed, high-purity crystalline silicon, solar cells, and other related products.
Currently, Liu Shuqin serves as the chairman, while Yan Ke is the secretary of the board. The company employs 56,406 individuals, with Liu Hanyuan as the actual controller. Tongwei has stakes in 30 subsidiaries, including Tongwei Solar (Hefei) Co., Ltd., Sichuan Yongxiang Co., Ltd., Tongwei New Energy Co., Ltd., Qianxi Tongwei Feed Co., Ltd., and Ningxia Yinchuan Tongwei Feed Co., Ltd..
In terms of performance, the company’s revenues from 2021 to 2023 were 63.491 billion RMB, 142.423 billion RMB, and 139.104 billion RMB, reflecting year-on-year growth rates of 43.64%, 119.69%, and -2.33%, respectively. The net profit attributable to the parent company was 8.208 billion RMB, 25.726 billion RMB, and 13.574 billion RMB, with year-on-year growth rates of 127.50%, 217.25%, and -47.25%, respectively. During the same period, the company’s debt-to-asset ratios were 52.80%, 49.57%, and 55.08%.
Regarding risks, Tianyancha information indicates that the company has 775 inherent risk reports, 946 surrounding risk reports, 10 historical risk reports, and 467 warning alerts related to risk.
