Polysilicon concept stocks rose in early trading, with XINTE ENERGY (01799) climbing 8.9% to HK$4.345, and GCL TECH (03800) gaining 3.73% to HK$0.695 as of the time of writing.
According to information from signing companies, on the evening of August 6, just one week after the State Administration for Market Regulation issued price compliance guidance for the photovoltaic industry on July 31, eight major domestic polysilicon enterprises jointly signed an "Anti-Involution Initiative" in Shanghai. These eight companies together account for over 90% of China's effective polysilicon production capacity.
The companies have jointly committed that all photovoltaic product sales prices (including bidding and tender prices) must not fall below the corresponding costs calculated based on the group standard "Photovoltaic Industry Cost Accounting Model Guidelines." Any sales below full cost must be immediately stopped and corrected, and companies must voluntarily accept supervision and inspection by market regulation authorities at all levels. Enterprises are also required to strengthen mutual supervision, promptly reporting and reporting any illegal low-cost sales to industry associations and the State Administration for Market Regulation.
Additionally, the companies pledged to strictly implement new energy consumption standards and proactively phase out high-energy-consuming, outdated production capacity.
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