Tongwei warns of tight materials supply amidst revenue jump

By Carrie Xiao
February 21, 2022
Facebook
Twitter
LinkedIn
Reddit
Email
Tongwei expects to finish 2022 with solar cell production capacity of 55GW. Image: Tongwei.

Tongwei has warned of ongoing tight supply of solar PV materials after recording a jump in 2021 revenue in excess of 50%.

Last week the upstream manufacturer published its 2021 performance report, confirming total operating revenues to have jumped by 50.6% year-on-year to RMB66.6 billion (US$10.5 billion) and net profit to have more than doubled to RMB8.2 billion, a new record for the company.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Both figures were in line with expectations published last month.

However the manufacturer warned that, having benefitted from the growth in demand for downstream products throughout 3031, high-purity silicon remain in short supply so far this year, causing prices to have continued to increase.

Indeed, despite falling slightly at the start of the year, polysilicon prices have risen in recent weeks.  

Tongwei’s high-purity silicon production capacity continues to run at full capacity and last year the company sold a total of 107,700 tons of polysilicon, an increase of 24% on the total in 2020. Its total annual production capacity meanwhile stands at 180,000 tons, with Tongwei advancing plans to expand that capacity.

A new facility in Baotou with a capacity of 50,000 tons is set to come into operation this year, while Tongwei also intends to invest in 200,000 tons of polysilicon capacity in Leshan, approximately have of which capacity is expected to come onstream this year.

By the end of 2022, Tongwei said it expects to have polysilicon production capacity of 330,000MT.

Furthermore, Tongwei said new production facilities will deliver further optimised production processes, improving product quality while reducing cost and allowing for greater quantities of n-type polysilicon to be produced, catering for the solar industry’s much-anticipated shift to n-type modules.

Tongwei is too planning to ramp up its cell manufacturing capacity after a year in which it said the division grew steadily. With capacity expansions underway in Shuangliu, Jintang, Meishan and Hefei, Tongwei expects to finish 2022 with cell production capacity of around 55GW, compared to 40GW in 2021.

The company said it expects to ship around 30GW of cells in 2022.

Read Next

October 20, 2025
Details of tariffs on US imports of polysilicon products may be announced as early as the end of this month, according to a note from investment bank Roth Capital.
October 13, 2025
Two Chinese state-owned energy enterprises have signed cooperation agreements on PV and wind power projects with Saudi companies, with the total contract value exceeding RMB30 billion (US$4.2 billion). 
October 9, 2025
Chinese inverter and storage manufacturer Sungrow has revealed details of its planned flotation on the Hong Kong Stock Exchange.
October 9, 2025
The retroactive collection of duties on historical solar imports to the US has been temporarily paused pending the outcome of an appeal.
October 8, 2025
University of Sydney scientists have created the largest and most efficient triple-junction perovskite-perovskite-silicon solar cell on record.
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK