On June 11, the 18th International Photovoltaic Power Generation and Smart Energy Exhibition (SNEC) grandly opened in Shanghai. Tongwei showcased its new energy industry chain, demonstrating the development strength of leading enterprises in the industry with new products, technologies, and solutions. Among them, Tongwei's new generation TNC 2.0 full-scenario product matrix made its debut at SNEC, fully launching "efficiency evolution" with the dual engines of technological innovation and intelligent manufacturing! and intelligent manufacturing!

1

TOPCon Continues to Maintain Momentum

At this SNEC, N-type technology remains the absolute protagonist. Major exhibitors from giants like Jinko, JA Solar, Trina, and Tongwei all featured TOPCon new products, with power exceeding 650W+. Notably, Tongwei's latest TNC 2.0 modules, with their 908 technology, TPE technology, polytech, and steel screen printing, have pushed module efficiency to new heights.

In terms of technological research and development, Tongwei's TOPCon bifacial modules have achieved a breakthrough with a bifaciality of 88%+, certified by TÜV Rheinland and CGC, precisely meeting industry trends. This provides customers with higher-quality, more efficient, and reliable photovoltaic solutions, fully meeting diverse market demands and creating greater value for customers, truly achieving "quality and efficiency excellence."

Industry professionals point out that both BC and TOPCon mainstream manufacturers have entered the phase of new product iteration. With both sides simultaneously improving, the power gap in mass-produced modules is maintained within 10W, and the average price per watt of BC may be about RMB 0.07-0.1/W higher than TOPCon.

With the deepening of the electricity price marketization mechanism, the era of simply pursuing peak module power is gradually becoming a thing of the past. "The matching degree of the power generation curve and the electricity price curve" and "the controllability of investment risk" will become new value benchmarks.

2

High Bifaciality

Constructing the Core Competitiveness of TOPCon Modules

"The revenue model of photovoltaic power stations must be redesigned in line with the price curve of the electricity market," admitted a senior power station investor. With the deepening of time-of-use electricity price mechanisms in various provinces, it has become a common phenomenon for photovoltaic power generation to implement valley electricity prices during the midday hours.

Under this trend, TOPCon technology may become the value-optimal solution for market selection. As mentioned earlier, the TNC 2.0 modules launched by Tongwei at the exhibition have already achieved a bifaciality breakthrough of 88% at the technology research and development level, meaning that their back-side power generation capacity has a better performance under the same conditions.

"The high bifaciality of TNC 2.0 modules, combined with excellent low-light performance, gives them a clear power generation advantage during dawn and dusk," Tongwei's technical lead noted on-site. "Compared to conventional TOPCon products, the bifaciality of TNC 2.0 modules has increased by 5-10 percentage points. In the open array scenarios of centralized large-scale ground power stations, the high bifaciality characteristics enable a significant increase in system power generation, and this advantage will continue to amplify with the enhancement of ground surface reflectivity."

The authoritative data from the National Photovoltaic and Energy Storage Verification Experimental Platform (Daqing Base) provides a scientific basis for the importance of module bifaciality. Empirical data shows that under conventional installation methods, the cumulative irradiance reaching the back of the module throughout the year accounts for 8.93% of the total cumulative irradiance on the back. In June, when the light conditions are optimal, this proportion can reach up to 21.58%.

(From Daqing Base Empirical Report)

3

Reliability Constructs Barriers

for the Delicate Balance of Standardization and Scenario-Based Application

This year’s SNEC unfolds as an “Extreme Testing Showcase for PV Modules.” At the core of Tongwei’s exhibition area, multiple global first certifications and initial batch approvals were conferred, covering nearly all application scenarios—from hail, high winds, and severe corrosion to extreme cold.

During the event, Kiwa PVEL, a global leader in PV module reliability and performance testing, awarded Tongwei the “Best Module Manufacturer” honor. Test results released by Kiwa PVEL show that Tongwei’s TNC high-power modules achieved top performance across the full reliability test sequence, reaffirming the brand’s premium reliability.

"Certification is just the starting point," a Tongwei representative stated. "We've built six in-house demonstration power stations and participated in eight third-party validation projects, spanning diverse climate zones in China, to rigorously verify product performance and reliability in real-world outdoor environments."

Similar scenarios also unfolded at other booths. Why scenario-driven capabilities take center stage this year?

The underlying logic is clear: in an era of accelerated production capacity optimization, high-efficiency and reliable products are pivotal for market differentiation. With new product launches, reliability validation has become non-negotiable. The government work report at the beginning of the year emphasized the development of PV power stations in "sand, gobi, and desert" areas, and the challenges of consumption and reliability have become prominent. The centralized verification of scenario application capabilities is the cornerstone for new products to win market trust.

The exhibition showcased numerous differentiated products—lightweight, flexible, anti-glare—prompting industry reflection: Can the value of niche products offset rising customization costs, non-standard quality control challenges, and consequent price increases and risk transfers?

At its essence, the photovoltaic industry remains a manufacturing sector for production materials. Only through standardized quality control, intelligent production processes, and lean capacity utilization can scale effects be achieved, enabling supply chain synergy and marginal gains in yield rates—ultimately translating into long-term LCoE value.

Against this backdrop, Tongwei’s new product portfolio embodies “less is more” wisdom. The TNC 2.0 module series mainly promotes four standardized mainstream versions. Through careful design, standardized products cover the differentiated scenario needs of the mainstream market, fully release the advantages of scale and standardization, ensure cost control and quality stability, and find a sustainable balance between standardization and differentiation. After all, reliability is the baseline, standardization is the backbone of scale economics, and “moderate optimization” for mainstream scenarios extends competitive edge.

4

High Early Returns

The Risk Hedging Logic of TNC 2.0

The electricity price mechanism reform necessitates not only technological recalibration but also forces the entire industry to reassess power station investment risks. Tongwei's data highlights critical insights:

Enhanced EPC Profitability: Under identical project parameters, constructing 10,000 m² of commercial-industrial color steel rooftop projects with TNC 2.0 modules reduces EPC costs by over RMB 200,000 compared to same-type BC modules, yielding a net profit exceeding RMB 94,000.

Cash Flow Superiority: Due to lower capital occupancy, TNC 2.0 projects maintain higher net profits than BC projects throughout their 14-25 year operational lifespan (depending on tariffs).

TNC 2.0's upfront high returns effectively mitigate investment risks like uncertainties in power-consuming enterprise sustainability, grid peak-valley adjustments, electricity price fluctuations, and downward on-grid price pressures from market transactions. In this risk-intensified landscape, early-stage profitability serves as the optimal hedging tool. TNC 2.0 achieves positive cash flow faster, significantly reducing policy-driven uncertainties.

This year's SNEC mirrors the truths about costs and returns:

Electricity pricing mechanisms dictate technological direction. Morning-evening power generation capacity may become a core component metric. Next-gen TOPCon products, approaching 90% bifaciality, are poised to capture technological dividends with superior low-light response.

Quality builds reliability barriers. The industry is shifting from scale competition to quality focus, with extreme environment adaptability defining next-gen module standards.

Revenue models face critical iteration. Investment payback period, capital occupancy ratio, and power-price curves are emerging as key decision factors, driving product value back to economic fundamentals.

As the exhibition concludes, a new industrial logic has become clear: the competitive dimensions of photovoltaics are evolving from simple power and cost to a multi-dimensional competition encompassing the matching of power generation revenue curves, the economic viability of power stations throughout their entire lifecycle, and adaptability to extreme environments.