On April 29, Tongwei Co.Ltd(600438) 2021 annual performance explanation meeting was held in China Securities Journal · China Securities Network.
In 2021, Tongwei Co.Ltd(600438) achieved an operating revenue of 63.491 billion yuan, an increase of 43.64% year-on-year; The net profit attributable to shareholders of listed companies was 8.208 billion yuan, a year-on-year increase of 127.5%.
Tongwei Co.Ltd(600438) is a large-scale private technology-based listed company focusing on agriculture and new energy. In agriculture, the company’s main business is the research, production and sales of aquatic feed, livestock and poultry feed and other products to meet the growth and nutrition needs in the process of aquaculture and livestock and poultry breeding. In terms of new energy, the company focuses on the R & D, production and sales of high-purity crystalline silicon, Cecep Solar Energy Co.Ltd(000591) batteries and other products. In 2021, the company’s output of high-purity crystalline silicon ranked first in the world, the Chinese market share reached 22%, and the battery shipment ranked first in the world for five consecutive years.
roadshow guests
Tongwei Co.Ltd(600438) chairman Xie Yi
Tongwei Co.Ltd(600438) vice chairman Yan Hu
Tongwei Co.Ltd(600438) independent director Du Kunlun
Tongwei Co.Ltd(600438) Board Secretary Yan Ke
Tongwei Co.Ltd(600438) financial director Zhou Bin
company profile
Tongwei Co.Ltd(600438) is the world’s leading manufacturer of aquatic feed and crystalline silicon battery. The company entered the photovoltaic new energy industry in 2006. After more than 10 years of rapid development, it has become a photovoltaic enterprise from the production of high-purity silicon in the upstream, the production of high-efficiency Cecep Solar Energy Co.Ltd(000591) cells in the midstream, to the construction and operation of terminal photovoltaic power stations. It has formed a complete photovoltaic new energy industry chain with independent intellectual property rights, and has become an important participant and main driving force in the development of photovoltaic new energy industry in China and even the world. At present, the company’s annual production capacity of high-purity silicon is 180000 tons, the annual production capacity of high-efficiency cells is 45gw, and the grid connected scale of photovoltaic power stations has reached 2.7gw.
Since its establishment in 1982, Tongwei Co.Ltd(600438) has deeply participated in and witnessed the development and growth of China’s aquaculture and feed industry, continuously improved breeding varieties, feed R & D, green breeding, food processing and sales, formed a whole process quality monitoring and traceability system from “source to table”, and effectively improved the value and competitiveness of the modern aquaculture industry chain Tongwei Co.Ltd(600438) with an annual feed production capacity of more than 10 million tons, the production and sales network covers most parts of the country and Vietnam, Bangladesh, Indonesia and other countries. It is a leading aquatic feed production enterprise and an important livestock and poultry feed production enterprise in the world. Among them, aquatic feed, as the company’s core product, has been in the forefront of the industry for many years.
Q & a collection
Q: how does the company judge the price trend of silicon material
answer: silicon material price depends on the relationship between supply and demand. At present, silicon material supply is relatively short, and the price remains high. It is estimated that the total global supply of silicon material this year will be more than 800000 tons, which is basically in tight balance compared with the expected terminal installed capacity, but it is tight compared with the downstream silicon wafer capacity. It is expected that the price of silicon material will remain high throughout the year. Subsequently, with the gradual release of industrial capacity, the price of silicon material may gradually return to a reasonable level. However, there are high technical, capital and talent barriers in the construction and operation of silicon material capacity, and there will be more uncertainty in the process of capacity construction. How the price of silicon material operates in the future is closely related to the investment and construction of silicon material capacity and downstream demand.
Q: has the epidemic affected the company
answer: epidemic has limited impact on the company’s production and operation. The production and operation of silicon materials and Cecep Solar Energy Co.Ltd(000591) batteries of the company remained normal, and the projects under construction were advancing as planned.
Q: how does the company plan the production and cost reduction of n-type materials
answer: company has realized the batch supply of n-type materials, but at present, due to the large-scale production of new batteries, the downstream demand for n-type materials is generally small. However, the iteration of battery technology is unstoppable, and the demand for n-type materials will gradually increase in the future. The company has arranged in advance, increased the technical research and development of high-purity crystalline silicon, and accelerated the improvement of product quality and purity. At present, 90% of the production capacity can supply n-type materials. In terms of production cost, based on the company’s long-term process and technology optimization, safe and stable operation, automation and fine management, the company’s production cost has long been at the industry-leading level and has core competitiveness. Subsequently, the company will mass produce cost-effective n-type materials according to the needs of the industry, so as to help the industry further improve quality and efficiency.
Q: what is the average electricity price of polysilicon production bases of the company
answer: company’s polysilicon production bases are mainly located in Leshan, Sichuan, Baoshan, Yunnan and Baotou, Inner Mongolia. The electricity price level is relatively advantageous. Specific electricity prices have signed confidentiality agreements with local governments.
Q: what is the company’s photovoltaic power generation plan
answer: by the end of 2021, the gross profit margin of the company’s photovoltaic power generation business was 62.82%. The power station business of the company focuses on the “integrated fishing and light” project. In the future, the company will promote the implementation of more “integrated fishing and light” projects, promote the transformation of fishery breeding, and continuously produce clean energy in accordance with the development principles of “scale”, “cluster” and “benefit”, so as to contribute to the green and sustainable development of China while realizing the economic benefits of enterprises.
Q: what has the company done in Rural Revitalization and Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816)
answer: in terms of rural revitalization, the company has built a “fishing light integration” base, combined with the National Rural Revitalization Strategy, appropriately introduced rural tourism elements, produced green energy on the water and green food under the water, driven the surrounding rural tourism, organically integrated the primary, secondary and tertiary industries, and truly turned them into three new projects of new breeding, new energy and new countryside; At the same time, the company continues to promote “photovoltaic poverty alleviation”, drive the development of rural industries, improve the ecological environment, drive the people out of poverty and become rich, and contribute to the goal of green water and green mountains and common prosperity.
