Tongwei shares (600438PlaygameswincryptoSH) release of the 2023 annual report showsPlaygameswincryptoIts operating income in 2023 was 139.104 billion yuan, down 2.33% from the same period last year, and the net profit belonging to shareholders of listed companies was 13.574 billion yuan, down 47.25% from the same period last year.

Red Star Capital Bureau noted that since the beginning of the first quarter, the photovoltaic industry has ushered in the traditional off-season, and the price of the industrial chain continues to bottom. Affected by the imbalance between supply and demand and the price downturn, the overall profitability of the photovoltaic industry fell sharply in the first quarter compared with the same period last year.

On the same day, Tongwei shares also disclosed its quarterly report of 2024, its operating income was 19.57 billion yuan, down 41.13% from the same period last year, and the net profit belonging to shareholders of listed companies was-787 million yuan, down 109.15% from the same period last year.

From the disclosure of the first quarterly report of the leading photovoltaic enterprises, they are currently facing pressure and adjustment, and the bottom profit of the industrial chain may come quickly.

In the past year, the performance of Tongwei's photovoltaic business was outstanding. Its high-purity silicon production capacity reached 387200 tons, an increase of 50.79% over the same period last year, with a global market share of more than 25%. Battery sales of 80.66GW (including self-use) increased by 68.11% compared with the same period last year. Components achieved full-year sales of 31.11GW, a breakthrough growth of 292.08% over the same period last year.

In terms of cost, as far as silicon is concerned, the average production cost of high-purity silicon products has dropped to less than 42000 yuan / ton in 2023, substantially leading the industry average.

In addition, Tongwei shares have successively increased their holdings by major shareholders by 10-2 billion yuan, repurchased 20-4 billion yuan by listed companies, and paid a total of more than 4 billion cash dividends in 2023.

(article source: red Star Capital Bureau)