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Canal Solar reported in August that Severe flooding in southeast China forced the closure of a facility owned by manufacturer Tongwei Solar, causing a new impact on the supply of polysilicon.
At the time, the company confirmed that it had halted operations at its 20,000 MT (metric ton) polysilicon factory in Leshan city, Sichuan, after a Level 1 flood warning was issued by local authorities.
Two months later, Tongwei reported that it had resumed production at its plant. The manufacturer said workers at its Yongxiang Polysilicon subsidiary worked 68 days, 24 hours a day, to restore production.
Currently, Tongwei has about 80 thousand MT of polysilicon production capacity.
Financial results
The Chinese company reported that it achieved record financial results in the third quarter of this year, driven by higher capacity levels than in the same period in 2019, supported by greater solar cell capacity and sales volume.
In total, RMB 12.93 billion (US $ 1.92 billion) was recorded, despite the forced closure of one of its factories, compared to US$ 1.62 billion recorded last year.
Regarding revenue, the manufacturer reported that in the first nine months of 2020 it reached RMB 31.678 billion (US $ 4.72 billion), an increase of 13.04% compared to the 2019 period.
Net profit for the quarter was significant: RMB 2.33 billion (US$ 345.8 million), compared to US$ 99.1 million in the previous quarter.
Source: PV Tech
