Tongwei's big move: Three-year target of 100 GW

In addition, the accumulated production capacity targets for the solar cell business should be as follows: 30 GW-40 GW in 2020, 40 GW-60 GW in 2021, 60 GW-80 GW in 2022, and 80 GW-100 GW in 2023. The strategy layout should focus on Perc+, Topcon, HJT and other new products, which should be compatible with all specifications of Series 210 and below. Non-silicon cost for Perc should be lower than 0.18 yuan/w. In addition, the accumulated production capacity targets for the solar cell business...

In addition, the accumulated production capacity targets for the solar cell business should be as follows: 30 GW-40 GW in 2020, 40 GW-60 GW in 2021, 60 GW-80 GW in 2022, and 80 GW-100 GW in 2023. The strategy layout should focus on Perc+, Topcon, HJT and other new products, which should be compatible with all specifications of Series 210 and below. Non-silicon cost for Perc should be lower than 0.18 yuan/w.

According to the second announcement, Tongwei Co., Ltd. and its subsidiary Tongwei Solar Co., Ltd. plan to sign the Investment Agreement for PV Industry Base with the People's Government of Jintang County of Chengdu City to build a high-efficient solar cell and supporting project with annual capacity of 30 GW in Jintang County in Chengdu City. The project will be implemented by stages with a total investment of 20 billion yuan according to estimation. Phase I 7.5 GW Project is to be launched before March of this year, which will be completed and put into operation within 2021. Subsequent projects will be gradually completed and put into operation in the future 3-5 years based on market demands.

Estimated based on the current price of mainstream cells in the market, the 30 GW high-efficient solar cell project will add an operating income of 30 billion yuan/year to the Company after it is completed and put into operation.