| 股票代码：600438 | 股票简称：通威股份 | 公告编号：2024-096 | | --- | --- | --- | | 债券代码：110085 | 债券简称：通 22 转债 | | 通威股份有限公司关于 "通 22 转债"预计满足转股价格修正条件的提示性公告 在本次发行的可转债存续期间，当公司 A 股股票在任意连续三十个交易日中 有十五个交易日的收盘价低于当期转股价格的 85%时，公司董事会有权提出转股 价格向下修正方案并提交公司股东大会审议表决。 上述方案须经出席会议的股东所持表决权的三分之二以上通过方可实施。股 东大会进行表决时，持有本次发行的可转债的股东应当回避。修正后的转股价格 应不低于前述的股东大会召开日前二十个交易日公司 A 股股票交易均价和前一 个交易日公司 A 股股票交易均价。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、"通 22 转债"发行上市概况 经中国证券监督管理委员会证监许可[2021]4028 号文核准，公司于 2022 年 2 月 24 日公开发行了 12,000 万张可转换公 ...

Group 1 - Company held investor relations activities in November, focusing on industry chain price trends and battery technology [1] - Company believes that the multi-crystalline silicon price has reached a bottom, with limited downward space and potential for stabilization in the short term [1] - The company’s 200,000-ton high-purity silicon project in Baotou began trial operation in October and has achieved full production by the end of November [1] Group 2 - Company has rapidly entered the top five in component shipments since entering the component business, with stable bidding prices for domestic ground power station projects [2] - The trend of continuous price decline in the industry has likely ended, with uncertainty regarding short-term component price increases [2] - Company acknowledges the need for industry self-discipline to address overcapacity and believes that positive factors are gradually accumulating [2] Group 3 - The Ministry of Industry and Information Technology has issued stricter energy and water consumption requirements for new and expanded photovoltaic projects [3] - Company’s current multi-crystalline silicon and solar cell projects meet the advanced manufacturing capacity standards set by the new regulations [3] - Company views TOPCon technology as the mainstream technology for the foreseeable future, while also exploring new technologies [3] Group 4 - Recent adjustments to export tax rebate policies have reduced the rebate rate for photovoltaic cells and components, potentially increasing export costs in the short term [4] - Company anticipates that the cost increase may be absorbed by overseas customers, and the policy could lead to higher export component prices in the medium to long term [4] - Structural price increases have been observed in battery prices due to the export tax adjustment, particularly for N-type batteries [4] Group 5 - Company plans to set its 2025 shipment targets based on internal and external market factors, with clearer guidance expected in the annual report [5] - Company is considering various financing channels based on market conditions and strategic needs, with no current plans for overseas refinancing [5]

股票代码：600438 股票简称：通威股份 公告编号：2024-095 债券代码：110085 债券简称：通 22 转债 通威股份有限公司 关于对外提供担保的进展公告 公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 被担保人名称： 2024 年 11 月 1 日—2024 年 11 月 30 日期间（以下简称"本次期间"）公司担保事项被 担保人均为非上市公司关联人。被担保人如下：公司下属 8 家全资子公司：通威绿色 基材（广元）有限公司、内蒙古通威绿色基材有限公司、通威太阳能（盐城）有限公司、 通威太阳能（眉山）有限公司、通威太阳能（成都）有限公司、高唐通威新能源有限公 司、前江通威有限责任公司、和平通威有限责任公司；公司下属 4 家控股子公司：四川 永祥能源科技有限公司、四川永祥光伏科技有限公司、越南天邦饲料有限公司、通威 （海南）水产食品有限公司；公司 1 家合营公司：通威拜欧玛（无锡）生物科技有限公 司；公司 2 家联营公司：贵港史记生物技术有限公司、湖北史记种猪畜牧有限公司；公 司部分客户。 本次期间担保 ...

证券代码：600438 证券简称：通威股份 公告编号：2024-094 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，现将公司回购股份的进展情况公告如下： 2024 年 11 月，公司未实施股份回购。截至 2024 年 11 月 30 日，公司通过上海 证券交易所交易系统以集中竞价交易方式累计回购公司股份 101,360,012 股，占公 司目前总股本 4,501,983,851 股的 2.2515%，回购成交的最高价为 22.94 元/股，最低 价为 17.43 元/股，成交总金额为 2,001,014,959.13 元（不含交易佣金等交易费用）。 上述回购股份情况符合法律法规的规定及公司回购股份方案。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/4/30 | | --- | --- | | 回购方案实施期限 | 2024/4/28~2025/4/27 | | 预计回购金额 | 200,000 万元~400,000 ...

Group 1: Company Operations and Production - The Baotou 200,000-ton high-purity silicon project began trial operation in October, achieving full production by the last week of November [3] - The company is considering production adjustments due to rising electricity prices and is researching reduction plans based on market conditions [3] - The company aims to dynamically adjust production arrangements according to the most economical production configuration [3] Group 2: Market Conditions and Pricing - The short-term outlook for polysilicon prices is stable, with limited downward space, as the market is expected to enter a destocking phase [3] - The export tax rate for batteries and components has been reduced from 13% to 9%, which may increase short-term costs but could promote exports in the long term [4] - The current bidding prices for domestic ground power station components are stable at 0.68 CNY/W, with the final component cost estimated at 0.69 CNY/W [5] Group 3: Industry Trends and Challenges - The photovoltaic industry is experiencing severe competition, with supply exceeding demand, prompting discussions on self-regulation and potential policy changes to guide healthy development [5] - The company is monitoring the impact of structural price increases in battery prices due to export tax adjustments and supply tightness [6] - The company plans to set shipping targets for silicon materials, batteries, and components for 2025 based on internal and external market factors [5]

股票代码：600438 股票简称：通威股份 公告编号：2024-093 债券代码：110085 债券简称：通 22 转债 通威股份有限公司 二、本次员工持股计划存续期届满前的后续事项 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 通威股份有限公司（以下简称"公司"）2022-2024 年员工持股计划（以下简 称"本次员工持股计划"）的存续期将于 2025 年 5 月 31 日届满。根据《关于上 市公司实施员工持股计划试点的指导意见》《上海证券交易所上市公司自律监管 指引第 1 号—规范运作》等规定，现将本次员工持股计划存续期即将届满的相关 情况公告如下： 一、本次员工持股计划的基本情况 经公司 2022 年 5 月 13 日召开的第八届董事会第一次会议、第八届监事会第 一次会议及 2022 年 6 月 1 日召开的 2022 年第一次临时股东大会审议，公司设立 了 2022-2024 年员工持股计划。本次员工持股计划存续期为 2022 年 6 月 1 日-2025 年 5 月 31 日。截至本公告披露日，本次员工持股计划共持 ...

2023 年 8 月 16 日，公司收到中国银行间市场交易商协会（以下简称"交易 商协会"）下发的《接受注册通知书》（中市协注[2023]DFI42 号）。《接受注册 通知书》中明确：交易商协会决定接受公司债务融资工具注册；注册自通知书落 款之日（2023 年 8 月 10 日）起 2 年内有效；公司在注册有效期内可分期发行超 短期融资券、短期融资券、中期票据、永续票据、资产支持票据、绿色债务融资 工具等产品，也可定向发行相关产品；每期发行时应确定当期主承销商、发行产 品、发行规模、发行期限等要素。具体内容详见公司于 2023 年 8 月 17 日在上海 证券交易所网站（www.sse.com.cn）披露的相关公告。 近日，公司已完成 2024 年度第六期绿色中期票据（科创票据）发行工作， 发行结果如下： | 股票代码：600438 | 股票简称：通威股份 | | 公告编号：2024-092 | | --- | --- | --- | --- | | 债券代码：110085 | 债券简称：通 转债 | 22 | | 通威股份有限公司 2024 年度第六期绿色中期票据（科创票据）发行结果公告 本公司董事会及全体 ...

| 股票代码：600438 | 股票简称：通威股份 | | 公告编号：2024-091 | | --- | --- | --- | --- | | 债券代码：110085 | 债券简称：通 22 | 转债 | | 通威股份有限公司 商过程中，交易各方也同步在积极探讨其他整合方案，如有确定进展或变化，公 司将及时披露。请广大投资者以公司公告信息为准，注意投资风险。 特此公告。 通威股份有限公司 关于与江苏润阳新能源科技股份有限公司及相关方交易事 项的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 通威股份有限公司（以下简称"公司"）关注到近期有部分媒体报道江苏润 阳新能源科技股份有限公司（以下简称"润阳股份"）部分产能停产相关事项， 因公司前期披露拟以向润阳股份进行增资及收购相关股东股权等方式，合计取得 润阳股份不低于 51%的股权，相关事项尚在推进中，为回应市场关切，便于投资 者了解相关情况，特说明如下： 一、本次交易情况概述 2024 年 8 月 14 日，公司披露《通威股份有限公司关于与江苏润阳新能源科 技股份有 ...

Investment Rating - The investment rating for Tongwei Co., Ltd. is "Outperform the Market" and is maintained [1] Core Views - The company's performance in Q3 2024 showed significant improvement, with total revenue reaching 68.272 billion yuan and a net profit attributable to shareholders of -3.973 billion yuan. In Q3 2024, revenue was 24.475 billion yuan, reflecting a quarter-on-quarter growth of 1.03%, and a substantial reduction in losses with a gross margin of 8.90%, up by 3.47 percentage points [5] - The company is focusing on cost reduction and efficiency improvement in its silicon material production, with the production cost significantly lowered in Q3 2024. The new capacity from the Inner Mongolia project is ramping up, which is expected to strengthen the company's cost advantage in silicon materials [5] - In the battery segment, the company is rapidly increasing its N-type battery capacity, with expectations to exceed 100GW by the end of the year. The company has achieved record-breaking efficiency in its heterojunction components [6] - The company's module business is expanding internationally, with new contracts signed in markets such as South Africa and the UAE, and an increasing share of overseas sales [6] Financial Summary - For the first three quarters of 2024, the company reported total revenue of 68.272 billion yuan, with a net profit of -3.973 billion yuan. The Q3 revenue was 24.475 billion yuan, with a significant reduction in losses to -844 million yuan [5] - The projected financials for 2024-2026 indicate a recovery, with expected net profits of -4.570 billion yuan in 2024, followed by 4.354 billion yuan in 2025 and 8.108 billion yuan in 2026. The gross margin is expected to improve from 7.1% in 2024 to 16.0% in 2026 [8][10] - The estimated price-to-book (PB) ratio for 2025 is projected to be between 3.0 and 3.2, with a corresponding reasonable value range of 36.82 to 39.28 yuan per share [7]

Investment Rating - The report maintains a "Recommended" rating for Tongwei Co., Ltd. (600438) with a target price of 35.11 CNY [1][2]. Core Insights - The company reported a significant reduction in losses in Q3 2024 compared to previous quarters, indicating a potential turnaround in performance [1]. - The integrated production model is expected to enhance growth opportunities, particularly in the silicon material and solar cell sectors [2]. - The company has achieved a year-on-year increase in silicon material shipments, with a notable 28.5% growth in the first three quarters of 2024 [2]. - The company is expanding its production capacity for N-type solar cells, with plans to exceed 100GW by the end of 2024 [2]. - The company has successfully increased its module shipments, with a 58.68% year-on-year growth in the first three quarters of 2024 [2]. - The financial forecasts have been adjusted, with expected net profits for 2024-2026 being -4.97 billion, 4.52 billion, and 7.02 billion CNY respectively [2]. Financial Summary - Total revenue for 2024 is projected to be 101.34 billion CNY, reflecting a year-on-year decrease of 27.1% [3]. - The net profit for 2024 is expected to be -4.97 billion CNY, a significant decline of 136.6% compared to the previous year [3]. - Earnings per share (EPS) is forecasted to be -1.10 CNY for 2024, with a recovery to 1.00 CNY in 2025 [3]. - The company’s price-to-earnings (P/E) ratio is projected to be -27 for 2024, improving to 30 in 2025 and 19 in 2026 [3].