02

TOPCon Still Holds Great Potential!

TOPCon represents a highly unique Technical route.

In just 18 months, TOPCon capacity surged from tens of GW to 800GW (excluding planned but terminated projects), becoming the sector's mainstream.

The rapid proliferation of TOPCon technology, coupled with advancements and capacity expansion, has also brought about certain impacts.

Xing Guoqiang has witnessed multiple technological transformations in the PV industry, and remarked, "We must always view issues through a developmental lens. Just as PERC faced numerous challenges during its introduction, all issues were resolved with technological progress."

Some even argue that TOPCon's rapid development might lead to a short lifecycle, potentially reaching a technological bottleneck soon.

However, we can observe the following facts:

(1) In March 2025, under the 2384*1303mm standard size, Tongwei's 210-66 version TNC module achieved a front-side power of 778.5 watts, with a conversion efficiency exceeding 25.06%; under the 2382*1134mm standard size, Tongwei's 210R-66 version TNC module achieved a front-side power of 682.8 watts, with a conversion efficiency exceeding 25.28%, setting new records for power and efficiency in both mainstream TOPCon module versions.

(2) In 2022, the average conversion efficiency of TOPCon cells was less than 25%, and the average power of standard module versions was less than 580W.

(3) The theoretical conversion efficiency of TOPCon cells stands at 28.7%.

These data demonstrate TOPCon's accelerated progress toward its theoretical efficiency ceiling.

Xing Guoqiang asserted, "For technology research and development, we're nowhere near exhausting all possibilities.

In his view, Tongwei maintains an open attitude towards the future. "Further development is needed in passivation, 0BB, steel plate printing, multi-wafer segmentation, double-sided poly, metallization, etc. Some areas may require revolutionary technological suites. For instance, For example, after breakthroughs in metallization technology, it's hard to identify whether cell capacity needs to be rebuilt or newly constructed."

Tongwei's continuous world records aim to explore ultimate efficiency of cells and power of modules at technology's cutting edge.

Xing said, "Our team has been deeply contemplating how many of the numerous technologies that create world records can provide technological guidance for future mass production. Based on the information we have internally, at least half of our technologies can be applied to mass production."

For Tongwei Co., Ltd., continuous research and development is a very meaningful and valuable endeavor, crucial for future product and corporate competitiveness.

03 Mass Production Choices: Respecting Both Technology and the Market

Tongwei has consistently adhered to the principle of not making choices in technology research and development, and not negating any technology.

Xing Guoqiang stated, "We never bet on a single technology. In research and development, we have deployed all the current mainstream technological directions in the industry."

As the world's leading cell manufacturer by shipments, Tongwei's cell capacity is concentrated in TOPCon. However, it has not abandoned research and development on other technological pathways, and even maintains a high level of sensitivity and technological leadership towards them, hoping that these other technological pathways can gain development opportunities and new market space through continuous R&D and technological advancements.

Beyond TOPCon, Tongwei has also achieved notable results in other technologies.

(1) Currently, Tongwei has a complete research center and experimental line for the research and development in back-contact TBC technology. Its R&D efficiency of N-type TBC has reached 26.87%, and TBC module power exceeds 660W, at an industry-leading level.

Xing Guoqiang said, "In fact, Tongwei began R&D on BC two and a half years ago, including P-type BC, N-type BC, and HTBC's cell and module integration technology."

(2) Tongwei's R&D on HJT started even earlier, dating back to July 2018. As early as 2021, Tongwei constructed China's first GW-level HJT production line.

On March 18 of this year, Tongwei Co., Ltd. announced that its THC 210 66-version heterojunction (HJT) module power reached 790.8 watts, with a conversion efficiency exceeding 25.46%! This marks the 11th time since 2023 that Tongwei has broken the world record for HJT module power and efficiency. The full-area module efficiency of 25.46% sets the highest value for the full-area efficiency of crystalline silicon modules tested by authoritative third parties.

Xing Guoqiang stated, "We approach HJT with an open attitude. For mass production, our baseline is 760W, and we aim to challenge 780W. We believe that HJT, with its advantages in efficiency, low-temperature coefficient, and bifaciality, will also secure a place in the future mass production landscape."

(3) Tongwei Co., Ltd. also prioritizes perovskite technology. Tongwei built a perovskite/silicon tandem cell laboratory in the third quarter of 2022, achieving fruitful results in technology research and development. The small-area tandem cell research efficiency reached 34.17%, and the 210 half-cell full-size tandem cell efficiency reached 26.62%.

Tongwei Co., Ltd. is willing to invest heavily in research and development. In addition to annual R&D investment amount to several billions, what the R&D personnel feel most deeply is that the company never sets an upper limit on R&D expenses. All R&D projects are approved at once and are fully implemented—all R&D budgets are fully allocated.

Xing Guoqiang said, "We compare different technology routes and benchmark against industry peers, striving to be industry-leading in all dimensions."

Regarding technology implementation, Xing Guoqiang emphasized Tongwei's corporate tenet of "pursuing excellence," with a results-oriented approach, providing the market with higher quality and more cost-effective products.

For Tongwei, choosing a technology route is not based on what technology it currently possesses, nor is it because a technology is the most advanced in the industry, but rather what products the market needs most. In short — "comprehensive R&D, strategic deployment." This is Tongwei's realism.

Perhaps, it is precisely because Tongwei respects both technology and the market that it has been able to stand firm in the ever-changing market for many years.