TBEA(600089)2024-11-05 07:33Group 1: Production and Sales Performance - The company produced 181,700 tons of high-purity polysilicon and sold 182,800 tons in the first three quarters of 2024 [1] - The average selling price of coal decreased by approximately 15% year-on-year in the first three quarters [2] - The inverter sales volume exceeded 13 GW in the first three quarters, representing a year-on-year growth of over 80% [2] Group 2: Capacity and Utilization - The current capacity utilization rate for polysilicon is around 25%, with a production guidance of 15,000 to 16,000 tons for Q4 [7] - The company has a coal production capacity of 74 million tons per year, with ongoing applications for additional capacity pending national approval [2] - The company has over 2 GW of self-operated new energy power stations under construction, with completion times varying from 6 months to 2 years depending on the project [3] Group 3: Financial Metrics and Plans - The company's asset-liability ratio was 56.80% at the end of Q3, indicating a reasonable level of debt [5] - The gross profit margin for coal products in the first half of 2024 was 34% [4] - The company has no current plans for stock buybacks or mid-term dividends, focusing instead on operational performance and investor returns [6] Group 4: Market and Strategic Initiatives - The company is actively engaging in investor relations and plans to increase communication with investment institutions [4] - The management is considering measures to enhance shareholder returns, including potential future dividends based on profitability and funding needs [3] - The company aims to leverage national policies to improve market capitalization and investor confidence [8]