TCL Zhonghuan Renewable Energy Technology Co Ltd Class A

002129: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥74.50	Twmd	Mgbjgbmb

We Reduce TCL Zhonghuan's Fair Value Estimate by 2% to CNY 25.30

Cheng Wang

Oct 30, 2023

Business Strategy and Outlook

TCL Zhonghuan strives to achieve global leadership in solar silicon wafer production. As of December 2022, Zhonghuan’s solar wafer capacity has overtaken longtime champion Longi Green Energy to become the largest in the world. After years of investment in smart manufacturing, Zhonghuan has built the most automated factories in the industry. This helps increase output and reduce costs.

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