Tongwei, Solis garner huge profit in Q1 due to booming market

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Tongwei Co., Ltd has achieved an operating revenue of RMB 24.685 billion yuan in the first quarter of 2022, up 132.49% YoY, according to the company’s financial report released on April 25. The net profit attributable to parent company was RMB 5.194 billion yuan, up 513.01%, with non net profit of RMB 5.135 billion yuan, up 544.95%. The net operating cash flow was RMB 3.249 billion yuan, up 92.78%.

The substantial growth of the company's operating performance is mainly resulted from the exceeded installations during the reporting period, with strong demand for polysilicon products and increased market price. Meanwhile, the company's new production capacity was effectively released, bringing the output to a new high.

Ginlong Solis also reported its operation situation of the first quarter on that day. The company realized an operating revenue of RMB 1.102 billion yuan, up 78.72% YoY. The net profit attributable to the parent company was RMB 164 million yuan, up 54.97%, with non net profit of RMB 141 million yuan, up 51.20%.