Analysis of the 5 Key Companies in Polysilicon Industry
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1. Tongwei Co., Ltd. is a leading enterprise in the global photovoltaic industry, with its business activities including polysilicon, photovoltaic cells, and photovoltaic power plants. Tongwei Co., Ltd. focuses on research in reduction process automation technologies, multiphase flow technologies, hierarchical utilization of reduction heat energy, and impurity removal techniques such as those involving boron/phosphorus/carbon, in order to continuously improve the quality of crystalline silicon products, reduce energy consumption, and maintain its technological leadership. In 2021, Tongwei Co., Ltd. achieved operating revenue of 63.491 billion yuan, with a net profit attributable to the parent company of 8.208 billion yuan. In the first three quarters of 2022, the company achieved operating revenue of 102.054 billion yuan, with a net profit of 21.731 billion yuan.
2. Daquan Energy is a leading domestic producer of polysilicon. Its main product is polysilicon, which is used in the production of solar photovoltaic products such as silicon ingots, silicon wafers, solar cells, and battery modules. In 2021, Daquan Energy achieved operating revenue of 10.832 billion yuan, with a net profit attributable to the parent company of 5.724 billion yuan. In the first three quarters of 2022, the company achieved operating revenue of 24.677 billion yuan, with a net profit of 15.085 billion yuan.
3. JA Solar Technology operates on a vertically integrated model within the solar photovoltaic industry chain. It has been dedicated for years to providing photovoltaic power generation system solutions to customers around the world. Its main business activities include the research, development, production, and sales of solar photovoltaic silicon wafers, cells, and modules, as well as the development, construction, and operation of solar photovoltaic power plants. In 2021, JA Solar achieved operating revenue of 41.302 billion yuan and a net profit of 2.039 billion yuan. In the first three quarters of 2022, the company achieved operating revenue of 49.324 billion yuan and a net profit of 3.289 billion yuan.
4. Xinte Energy: Xinte Energy is a subsidiary controlled by TBEA and specializes in the development of photovoltaic new energy products. In the field of polysilicon production, as of May 2022, Xinte Energy had the capability to produce 100,000 tons of high-purity crystalline silicon, with its overall technology reaching international advanced levels. In 2021, Xinte Energy achieved operating revenue of 22.523 billion yuan and a net profit of 6.318 billion yuan. In the first half of 2022, the company achieved operating revenue of 14.716 billion yuan and a net profit of 6.03 billion yuan.