Industry news, on October 11, eight polysilicon enterprises of Tongwei Stock and Xiexin Science and Technology held a closed-door meeting in Hangzhou, Zhejiang Province. It is agreed that the average cost of silicon materials (including Siemens method and granular silicon) including tax and the corresponding sales price shall not be less than 43,000 yuan/ton ; The price of BC components should not be less than 0.86 yuan/W , and TOPCon components should not be less than 0.
The above "price bottom line" also applies to export products, social procurement and bidding. According to
media reports, the Hangzhou Conference also clarified a set of mutual supervision mechanisms to encourage active reporting of violations of national low-price dumping regulations, malicious disruption of market economic rules and disruption of industry order. The
market believes that the Hangzhou Conference is the specific landing of the Shanghai Initiative and the key step for the polysilicon industry to "sell at no less than cost price".
"Shanghai-Chengdu-Beijing-Hangzhou", the photovoltaic anti-involution process has been accelerated
in less than three months since August, and there have been many reports in the photovoltaic industry that leading enterprises have held closed-door meetings.
On August 6, Tongwei, GCL Technology, Daqo Energy, Xinte Energy, Asia Silicon, Oriental Hope, Qinghai Lihao and Goens , eight leading polysilicon enterprises, held a closed-door meeting in Shanghai, signed a proposal and unanimously decided to resolutely implement the full cost price sales compliance requirements. We will comprehensively conduct self-examination and self-correction of prices, put an end to the dumping of products at prices below cost, and promote energy conservation, carbon reduction and capacity clearance . At the beginning of
September, the industry spread the "Chengdu Production Reduction Conference", the core of which is that polysilicon enterprises should start large-scale production reduction, control production and accelerate inventory removal. In the fourth quarter of 2026, the output was reduced by 500000 tons, and the total output in 2026 was reduced to about 1-1.1 million tons. In mid-
September, the "Beijing Conference on Polysilicon" was circulated in the photovoltaic circle, the core of which was still the reduction of production, but the intensity was strengthened compared with the "Chengdu Conference on Reduction of Production". The content shows that the executive level of 10 silicon factories participated in the re-signing of the letter of commitment to reduce production, according to their respective capacity control (to) 35%, the total capacity control to 1.028 million tons, monthly capacity control 8.
The Hangzhou meeting is to further delimit the bottom line of the price, but also to further form a landing plan for capacity restrictions. Through the market-oriented regulation mechanism, enterprises are encouraged to co-ordinate and actively suppress their own production capacity according to the total market demand.
From the proposal of Shanghai to the bottom line of Hangzhou, it can be seen that photovoltaic enterprises are accelerating the anti-involution process of the industry around measures such as production reduction and price limit. However, through the content of the Hangzhou Conference, we can also see the bottleneck of the current dilemma of "anti-involution" in the photovoltaic industry through three questions.
Question 1: Why is the mutual supervision mechanism clarified again? Why did the Hangzhou Conference clarify the mutual supervision mechanism again?
Since the second half of 2024, anti-involution has become the focus of the photovoltaic industry. Similar closed-door meetings have been held, but the results are very little.
According to Digital New Energy DataBM.
However, due to the weak market demand, the polysilicon sector began to fall off a cliff since the beginning of 2026. The average transaction price once dropped to 3.
The meeting of eight polysilicon enterprises not only delimited the bottom line of silicon material price, but also why did they delimit the bottom line of component price? How can it be implemented?
Before this, each link base price delimits separately, does not look from the logic inappropriately, but the final result actually is: After the short-term price game, the price stalls the speed to slide once more.
Eight major polysilicon enterprises hold more than 80% of the national production capacity of silicon materials, and also hold the bargaining power of silicon material prices. Although the price of polysilicon can be raised by the joint efforts of eight polysilicon enterprises, silicon materials, as the cost anchor of the photovoltaic industry chain, will inevitably push up the cost of downstream links.
Components are the only export for the value realization of photovoltaic industry. Once the price of components can not go up synchronously, it will reverse the price reduction of each link layer by layer. In this way, the price of silicon enterprises is only a short-term bubble after all. At
the Hangzhou conference, the industry grasped the core of the above problems- polysilicon is the core of cost, but components are the core of the market. Set the base price of silicon materials and components at the same time, so that the price can really go up. This also shows that the anti-involution of the photovoltaic industry is moving from the tube supply to the tube market.
Question 3: Why is it directed at the bidding process of central enterprises? To put it bluntly, the above content is aimed at the bidding link of the central enterprises.
As early as October 2024, the photovoltaic industry association has announced that the lowest cost price of components including tax is 0.68 yuan/W ; In November of the same year, the photovoltaic industry association also gave the lowest component tax-inclusive cost price of 0.
Digital new energy DataBM. Com statistics combed the enterprise bidding data for 27 months since July 2024. Among them, the lowest bidding price of the 20-month project is less than 0.
In the centralized procurement project of China Energy Construction, the bidding unit price of TOPCon is 0.69-0.77 yuan/W. The BC bidding price is 0.76-0.
The gap between the above quotation and the bottom line of the component price set at the Hangzhou Conference is obvious, which also means that the difficulty of implementing the bottom price of the component should not be underestimated.
The postscript
has different views on the content market of the Hangzhou Conference. Some voices believe that the ideal of the participating enterprises is very good, but the realistic basic condition for the realization is the terminal market demand. From January to August
this year, the newly installed PV capacity in China was only 97.19 GW, representing a year-on-year decrease of 57. Although there is still incremental demand in the domestic market, the release of demand in the short term is still not very optimistic.
The Hangzhou Conference demonstrates the determination of enterprises to break the involution, but whether it can be achieved ultimately does not depend on the conference room.
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