[{"_1":2,"_78":-5,"_79":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_67":68,"_75":70,"_76":58,"_77":59},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":34,"_35":-5,"_36":37,"_38":39,"_49":50,"_60":61,"_62":63,"_64":65,"_66":32},"documentId","ef0mkhpolcl8tz2g2c2bt27s","title","TZE Denies Rumors of Production Shutdown: No Plans to Reduce Production Lines","slug","tze-denies-rumors-of-production-shutdown-no-plans-to-reduce-production-lines","excerpt","TZE denies rumors of halted production: still in normal production operations, currently no plans to reduce production lines.","content","\n

Recently, there have been market rumors that certain silicon wafer manufacturers in Tianjin and Yixing might cease production, with industry speculation suggesting these rumors refer to TZE. On August 21, a reporter, posing as an investor, called TZE for verification. The company stated that they have not received any news about a production stoppage, and the relevant bases are still operating normally. The company currently has no plans to stop production or reduce its production lines.

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TZE's capacity layout in China mainly involves Tianjin, Inner Mongolia, Ningxia, Jiangsu, and other regions. In the past two years, influenced by changes in supply and demand structure, the photovoltaic industry has entered a deep adjustment period, with product prices declining and outdated capacity being accelerated out of the market. Contrary to this trend, TZE has chosen to increase production. According to the annual report, by the end of 2023, the company's crystal capacity will reach 183 GW, a 31% increase from the beginning of the period. Additionally, according to media reports, the company's crystal capacity is expected to further increase by 9% to 200 GW by the end of 2024.

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However, the performance of TZE has not seen the same upward trajectory as the company's capacity. In 2023, TZE's revenue and net profit attributable to shareholders both declined compared to the previous year, with the annual net profit attributable to shareholders at 3.416 billion yuan, almost halving year-on-year. In the first half of this year, TZE released a performance forecast, stating that it expects a net profit loss of 2.9 billion to 3.2 billion yuan, compared to a profit of 4.536 billion yuan in the same period last year.

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In response to the anticipated losses, TZE explained that in the first half of 2024, global photovoltaic terminal installation is expected to continue its steady rise. However, the capacity release across various stages of photovoltaic manufacturing is accelerating, leading to a further imbalance in supply and demand compared to the second half of 2023, resulting in intensified short-term competitive dynamics. During the reporting period, the prices of major products in the photovoltaic supply chain, such as silicon materials, silicon wafers, and solar cells, fell. By the second quarter of 2024, the various stages of the industry are generally in a state of selling prices being lower than costs, widespread losses, and even cash cost losses, putting pressure on operational performance.

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With the changes in performance, news about personnel adjustments at TZE has been circulating in the market. In early August, TZE announced that Shen Haoping applied to resign from the position of CEO due to work needs and personal energy considerations, but he will continue to serve as the company's director, vice chairman, and hold relevant positions in various special committees of the board. The company's CEO duties will be temporarily assumed by Chairman Li Dongsheng.

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Shen Haoping is considered the 'soul figure' of TZE. According to TZE, Shen Haoping has been serving as the General Manager of the company since June 2007, leading the company in promoting technological innovation and manufacturing innovation. The company has continued to grow in scale and has established comprehensive competitiveness in technology, products, manufacturing, and industrial layout, leading several significant transformations in the photovoltaic and semiconductor industries. Therefore, the market speculates that Shen Haoping's resignation may indicate that TZE will adjust its business strategy. In the announcement regarding Shen Haoping's resignation, TZE stated that the global photovoltaic industry is still in a downturn, and the company will adhere to its global leading strategic objectives, accelerate transformation and innovation, enhance competitiveness, and strive to improve the company's operating performance.

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Tag: #TZE

TZE Denies Rumors of Production Shutdown: No Plans to Reduce Production Lines