Tongwei’s flooded polysilicon plant back in production as company sets record Q3 revenue and profits

Facebook
Twitter
LinkedIn
Reddit
Email
Tongwei has resumed production at its 20,000MT polysilicon plant in Leshan City, Sichuan province after damage, due to severe flooding in the region forced the plant to close in mid-August, contributing to a spike in polysilicon prices at the time. Image: Tongwei

Major polysilicon and merchant solar cell producer Tongwei has resumed production at its 20,000MT polysilicon plant in Leshan City, Sichuan province after damage, due to severe flooding in the region forced the plant to close in mid-August, contributing to a spike in polysilicon prices at the time.

The company said that workers at the subsidiary, Yongxiang Polysilicon had worked for 68 days, 24 hours a day to restore production. Tongwei has around 80,000MT of polysilicon production capacity.

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

Financial results

Tongwei has recently reported record third quarter financial results, driven by polysilicon ASP increases and higher capacity levels than the prior year period, supported by increased solar cell capacity and sales volume. 

The company reported total group revenue of RMB12.93 billion (US$1.92 billion) for the third quarter of 2020, despite the forced closure of one of its polysilicon plants, up from US$1.62 billion in the previous quarter. 

The company reported total group revenue of RMB 12.93 billion (US$1.92 billion) for the third quarter of 2020, despite the forced closure of one of its polysilicon plants, up from US$1.62 billion in the previous quarter.

Revenue for the first nine months of 2020 topped RMB31.678 billion (US$4.72 billion), up 13.04% from the prior year period.

Net profit in the quarter was a significant RMB2.33 billion (US$345.8 million), compared to US$99.1 million in the previous quarter. 

However, net profit after deductions for non-recurring gains and losses were US$286 million, still more than two times higher than its previous quarterly record and 48.57% higher than the net profits for the nine-month period, year-on-year. 

 Net profit after deductions for non-recurring gains and losses were US$286 million, still more than two times higher than its previous quarterly record and 48.57% higher than the net profits for the nine-month period, year-on-year.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

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).
Premium
October 6, 2025
Talon PV aims to be the first US company to safely manufacture TOPCon cells at scale, backed by European technology and a crucial First Solar licensing deal.
October 3, 2025
The US solar manufacturing industry is feeling bullish, despite the policy whiplash inflicted over the summer and the increased pressure on US solar supply chains.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
October 2, 2025
PV products using perovskite technology could assume a dominant position within the next ten years, according to module producer Qcells' CTO.
Premium
October 2, 2025
PV Talk: Qcells’ CTO Danielle Merfeld discusses the imminent opening of America’s first integrated c-Si ingot-to-module factory and her belief in solar’s long-term strengths.

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