TBEA’s net profit attributable to the parent company is expected to increase by 119% to 132% in the first half of the year

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On the evening of July 8, TBEA released a profit forecast, stating that the company expects to achieve a net profit of 9.5 billion to 10 billion yuan in the first half of 2022, representing a year-on-year increase of 149% to 162%； The net profit attributable to the parent company was between 6.8 billion yuan and 7.2 billion yuan, representing a year-on-year increase of 119%-132% ； Net profit after deducting non-recurring items was between 7 billion yuan and 7.3 billion yuan, representing a year-on-year increase of 259% to 274%. The announcement states that the improvement in performance was mainly due to the fact that in the first half of 2022, thanks to the implementation of the **\"dual carbon\" strategy and the need to ensure a stable supply of energy, demand in the new energy, energy, and power transmission industries in which the company operates increased. The company seized these opportunities, intensified its efforts to expand into new markets, accelerated the development of new production capacity, and improved its management practices, resulting in good progress in all of its core business areas. Sales volumes of polysilicon and coal products increased on a year-on-year basis, with average selling prices also rising. Revenues and profits from polysilicon and coal business sectors saw significant year-on-year growth. Meanwhile, profits from wind and photovoltaic power plant construction and operation, as well as from power transmission and distribution activities, all increased as well. TBEA’s main business areas include power transmission and transformation, new energy, and energy-related services. The company’s power transmission and transformation business mainly includes transformers, wires and cables, as well as other related products, in addition to international integrated system solutions for power transmission and transformation ； The new energy business mainly involves products such as polysilicon, inverters, and SVGs, offering comprehensive energy solutions for the design, construction, commissioning, and operation and maintenance of photovoltaic and wind power plants, as well as services for the operation of such plants ； The energy business mainly includes coal, electricity, and heat products.