On September 11, during an earnings briefing, Tongwei Co., Ltd. responded to questions regarding its acquisition of Lihao Clean Energy, capacity phase-out, perovskite research and development, and production arrangements for the third and fourth quarters.
Regarding the acquisition of a 100% equity stake in Lihao Clean Energy, Tongwei stated that the basic work involved in the transaction, such as auditing and evaluation, has been preliminarily completed. However, due to significant changes in the photovoltaic industry's market environment following the disclosure of the transaction plan, the transacting parties are still engaged in ongoing negotiations regarding the specific scheme. Once an agreement is reached, the company will convene another board meeting for deliberation and fulfill the subsequent approval and information disclosure procedures. The company also noted that the risk of adjustments to the transaction scheme, or the possibility that the parties may fail to reach an agreement, cannot be ruled out.
In terms of silicon material production capacity, all of the company's high-purity crystalline silicon projects currently meet the Tier 3 energy consumption standards outlined in the newly released "Norm of Energy Consumption per Unit Product of Polycrystalline Silicon and Germanium." As relevant national standards for energy consumption and energy efficiency are officially implemented next year, outdated production capacity in the industry will be gradually phased out. Nevertheless, the specific pace of this phase-out will require further observation in conjunction with changes in market supply and demand.
In the area of technological R&D, Tongwei indicated that the development of perovskite tandem technology is progressing well. The company continues to conduct research utilizing its established 5MW fully automated perovskite/heterojunction tandem pilot line. It also mentioned that its "large-scale preparation technology for perovskite-crystalline silicon tandem cells" has been included in relevant industry lists recognizing scientific and technological progress.
Regarding overseas markets, the company successfully launched multiple projects in countries such as Romania and Poland during the first half of this year. The overseas sales volume of modules saw a year-on-year increase, with its proportion of total sales rising to nearly 40%. The company expressed its intention to continuously deepen strategic cooperation with core overseas power plant developers and distributors in the future, while simultaneously accelerating the expansion of its global marketing network to further enhance its brand influence in international markets.
Furthermore, Tongwei disclosed that the operating rates across its various business segments have overall remained cautious and orderly during the third quarter. In the silicon material segment, influenced by the high-water season in Southwest China, the comprehensive operating rate has seen a slight recovery since June; however, the overall strategy continues to be one of "orderly production control." For the cell and module segments in the fourth quarter, the company will flexibly adjust production schedules based on the rhythm of incoming orders, strictly adhering to the principle of "determining production by sales, prioritizing high efficiency."
Source：EnergyTrend