Home Brand Story TCL 2022 revenue and net profit hit another record high, both up over 60%

TCL 2022 revenue and net profit hit another record high, both up over 60%

TCL 2022 revenue and net profit hit another record high, both up over 60%

TCL released its 2022 annual report on March 28, the company achieved revenue of 67.010 billion yuan, up 63.02% year-on-year; achieved net profit of 6.819 billion yuan, up 69.21% year-on-year; achieved basic earnings per share of 2.1212 yuan / share, up 61.16% year-on-year. Revenue from the photovoltaic industry reached 62.36 billion yuan, accounting for 93.06% of revenue.

As for the reasons for the record high operating performance, TCL Zhonghuan believes that the main reasons include:

  • Firstly, accelerated increase in advanced production capacity, optimized product structure and significant cost and market advantages of G12 strategic products.
  • Second, the continuous promotion of technological innovation and manufacturing method change, G12 technology platform and Industry 4.0 production line deep integration, improve the company’s production and manufacturing efficiency, process technology level and the ability to meet customer demand for high quality, differentiation and flexibility, to a greater extent to protect the company’s profitability. In the crystallization process, we have reduced the consumption rate of silicon per unit of product and continued to increase the monthly production capacity of a single furnace; in the wafer process, we have improved the A-rate of silicon wafers through finer and thinner processes, and the number of wafers produced per kilogram at the same wafer thickness is significantly higher than that of the industry.
  • Third, through the long-term construction of good supply chain cooperation, the company better protects the production and sales scale. At the same time, the company has been able to play the right to define, set standards and set prices in the process of promoting the improvement of the industry’s technology and manufacturing level, which effectively reduces the operational risks during the frequent fluctuations in the supply chain.
  • Fourth, with the continued application of Industry 4.0 production methods in the workflow and operation scenarios of each industrial segment of the company, the per capita labor productivity continued to increase significantly, product quality and consistency continued to improve, consumption of raw materials and auxiliary materials further improved, and factory operation efficiency and cost continued to be optimized during the reporting period. At the same time, with the increase of demand for large size and N-type products, the advantages of Industry 4.0 flexible manufacturing continue to be highlighted.

TCL Azeus said that N-type silicon wafers are the next generation of high-efficiency products, and TCL Azeus has maintained strong product competitiveness and synergy effects by relying on years of silicon material technology accumulation and N-type technology reserves, and participating in customers’ product and process design in, and maintaining the No. 1 global export market share of N-type silicon wafers for many years.

N-type T-110μm monocrystalline silicon wafer

The announcement also stated that TCL Central is firmly committed to the differentiated technology and product line of the “G12 + G12” dual platform, and has achieved a comprehensive iteration of the “G12 + G12” 3.0 products, and has given full play to the advantages of industry chain synergy to further reduce the terminal BOS costs. It also gives full play to the synergy of the industry chain to further reduce the terminal BOS cost and steadily increase the market share.

As of the end of the reporting period, the capacity of TCL G12 high-efficiency stacked tile module project in Jiangsu has reached 9GW, and the capacity of G12 high-efficiency stacked tile module project (Phase I) in Tianjin has reached 3GW. Meanwhile, based on the consideration of the expansion of next-generation differentiated cell technology, we have completed the construction of an industry-leading 2GWG12 cell engineering demonstration line in Jiangsu with the level of automation and intelligence, and the conditions for expansion have been met. The project is ready for expansion.