通威股份：通威股份有限公司2024年年度报告

StockCode:600438ShortName:TongweiCo.,Ltd TongweiCo.,Ltd. 2024AnnualReport ImportantNotice I.Theboardofdirectors,supervisorycommitteeaswellasdirectors,supervisorsandseniormanagersoftheCompanyareresponsiblefortheauthenticity,accuracyandcompletenessoftheinformationcontainedinthisAnnualReportwithoutfalserecords,misleadingstatementsormaterialomissions,andassumejointandseveralliabilitytherefor. II.AlldirectorsoftheCompanyhavebeenpresentintheboardmeeting. III.SichuanHuaxin(Group)CPA(SpecialGeneralPartnership)hasexpressedastandardunqualifiedopiniononthefinancialstatementsoftheCompany. IV.LiuShuqi,HeadoftheCompany,ZhouBin,HeadofaccountingaffairsandGanLu,Headofaccountingdepartmentrepresentthattheyareresponsiblefortheauthenticity,accuracyandcompletenessofthefinancialstatementsinthisAnnualReport. V.Theproposalonprofitdistributionortheproposalonconversionofcapitalreservetosharecapitalforcurrentperiodresolvedintheboardmeeting Aftercomprehensiveevaluationofindustrytrends,corporatedevelopmentalphase,andactualoperationalperformance,Tongwei’sBoardhasdeterminedtoretain2024earningstosafeguardlong-termshareholdervalueandensuresustainabledevelopmentcapitalrequirements.Thecurrentprofitallocationproposal,involvingneithercashdividends,capitalreserveconversions,norbonussharedistributions,fullycomplieswithregulatoryrequirementsincludingtheNo.3GuidelinefortheSupervisionofListedCompanies–CashDividendsofListedCompaniesandtheTongwei’sArticlesofAssociation. Inaccordancewithpertinentregulations,specificallytheRulesforRepurchaseofSharesbyListedCompanies,whencashdividenddistributionsbylistedcompaniesincludesharerepurchasesconductedviaoffersorcentralizedcompetitivebidding,theserepurchases,executedwithcashastheconsideration,aretreatedascashdividendsinrelevantproportioncalculations.In2024,theCompanysuccessfullyrepurchased101,360,012sharesthroughcentralizedcompetitivetrading,amountingtoatotalof2,001,014,959.13yuan,exclusiveoftransactionfeessuchasstampdutyandtradingcommissions. Itiscrucialtonotethatthisprofitdistributionproposalhasnotbeensubmittedtothegeneralmeetingofshareholders. VI.Cautionarynoteonforward-lookingstatement √Applicable□NotApplicable Theforward-lookingstatementsoftheCompanyregardingitsfuturedevelopmentstrategiesandbusinessplansdonotconstituteanysubstantialcommitmentoftheCompanytoinvestors;andinvestorsshouldpayattentiontorisks VII.Anyfundspossessedbythecontrollingshareholderandotherrelatedpartiesfornon-operatingpurposes? No VIII.AnyoutwardguaranteebytheCompanyinviolationoftheprescribeddecision-makingprocedures? No IX.Morethanhalfofthedirectorscannotensurethetruthfulness,accuracy,andcompletenessoftheannualreportdisclosedbytheCompany? No X.Notieceonmaterialrisks TheCompanyhaddetailedpossiblerisksinthisReport.PleaserefertoVI“discussionandanalysisontheCompany’sfuturedevelopment”inSectionIIIManagementDiscussionandAnalysisformoreinformationonpossiblerisksandactions. XI.Others □Applicable√NotApplicable *The2024AnnualReportofTongweiCo.,Ltd.waspublishedbothinChineseandEnglish.WhereanydiscrepancyarisesbetweentheEnglishandtheChinesecontent,theChineseversionshallprevail.TheEnglishversionherewasonlyusedforinvestors’reference. Contents SectionI.Definitions4 SectionII.CompanyProfileandMajorFinancialIndicators5 SectionIII.ManagementDiscussionandAnalysis8 SectionIV.CompanyGovernance39 SectionV.EnvironmentalandSocialResponsibility58 SectionVI.ImportantMatters75 SectionVII.ShareChangesandShareholders97 SectionVIII.PreferenceShares104 SectionIX.Bonds105 SectionX.FinancialReport114 Listofdocumentstobechecked FinancialstatementsbearingthesignaturesandsealsoftheheadoftheCompany,theheadoftheaccountingaffairs,andtheheadoftheaccountingdepartment.Originalauditor'sreportbearingthesealoftheaccountantfirmandthesignaturesoftheCPAs.FormalcopiesofallCompanydocumentsandtheoriginalannouncementspubliclydisclosedinwebsitesdesignatedbytheCSRC. SectionI.Definitions I.Definitions Unlessotherwiseindicatedinthecontext,thefollowingtermsshallhavethefollowingmeaningsinthisReport: DefinitionsoffrequentlyusedtermsTongwei,Company,We,orus refersto TongweiCo.,Ltd. TongweiGroup refersto TongweiGroupCo.,Ltd. Yongxiang refersto YongxiangCo.,Ltd. YongxiangPolysilicon refersto SichuanYongxiangPolysiliconCo.,Ltd. YongxiangNewEnergy refersto SichuanYongxiangNewEnergyCo.,Ltd. InnerMongoliaTongwei refersto InnerMongoliaTongweiHigh-purityCrystallineSiliconCompany YunnanTongwei refersto YunnanTongweiHigh-purityCrystallineSiliconCompany TongweiNewEnergy refersto TongweiNewEnergyCo.,Ltd. HefeiSolar refersto TongweiSolar(Hefei)Co.,Ltd. AnhuiSolar refersto TongweiSolar(Anhui)Co.,Ltd. ChengduSolar refersto TongweiSolar(Chengdu)Co.,Ltd. MeishanSolar refersto TongweiSolar(Meishan)Co.,Ltd. TongyuProperty refersto ChengduTongyuPropertyManagementCo.,Ltd. TongweiMedia refersto ChengduTongweiCultureMediaCo.,Ltd. Shuangliu25GWTNCProject refersto PhaseV25GWHigh-efficiencyCellProjectofChengduSolar Meishan16GWTNCProject refersto Theprojectwithanannualcapacityof16GWhigh-efficiencysolarcells(MeishanPha