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TBEA saw 119% profit surge in 2022 performance report

Major silicon provider TBEA released its annual report 2022 on April 24, with a revenue of CNY 95.887 billion yuan, up 39.03%. The company realized a net profit attributable to the parent company of CNY 15.883 billion yuan, up 118.93%.

TBEA saw 119% profit surge in 2022 performance report
TBEA saw 119% profit surge in 2022 performance report

The company attributed the reasons to the increase in sales and average sales prices of its polysilicon and coal products.

In terms of the new energy industry, during the reporting period, TBEA’s polysilicon production reached 125,900 tons and achieved sales of 106,700 tons. The newly acquired wind and photovoltaic project exceeded 6 GW, and the installed capacity of such projects that have completed and confirmed revenue was approximately 2.3 GW.

For power transmission and transformation, TBEA has signed contracts worth CNY 31.1 billion yuan in the domestic market and USD 436 million in the international market in 2022. Approximately USD 6 billion of unrecognized revenue contracts and outstanding contracts are under execution.

As for energy production, TBEA increased its coal production capacity by 20 million tons per year in 2022, bringing the annual capacity to 70 million tons per year, and achieved 17.936 billion kilowatt hours of coal-fired power generation.

The company also achieved sales of over 12 million square meters of electrode foil, 22,000 tons of high-voltage aluminum foil, and over 900 tons of 5N and above ultra-pure aluminum products in 2022.

This year, TBEA plans to achieve a revenue of CNY 110 billion yuan and control operating costs within CNY 80 billion yuan.

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