CCTV financial reporters learned from the contracted enterprises that on August 6, eight leading polysilicon enterprises in China jointly signed the Anti-Involution Initiative in Shanghai.
The co-signing enterprises jointly promise that the price of all products shall not be lower than full cost, and the enterprises shall supervise and report each other; at the same time, they shall strictly implement the new energy consumption standards and take the initiative to clear the backward production capacity with high energy consumption.
Eight enterprises account for more than 90% of the effective production capacity of polysilicon in China, with a total capacity of nearly 2.8 million tons. It includes four listed companies , Tongwei Stock , Xiexin Science and Technology, Daquan Energy and Xinte Energy . As well as Asia Silicon Industry (Qinghai) Co., Ltd., Xinjiang Oriental Hope New Energy Co., Ltd., Qinghai Lihao Qingneng Co., Ltd., and Xinjiang Goens Energy Technology Co., Ltd . It basically covers all the major manufacturers in the industry at present.
It is worth noting that the meeting not only formed a consensus on self-discipline among enterprises, but also put forward a series of supporting disciplinary measures :
1. Strictly enforce the Price Law and severely crack down on low-price dumping;
2. Establish an industry price red line, and the whole industry shall not supply to enterprises selling below the red line;
3. It is suggested that financial institutions stop financing support for enterprises selling below cost and engaging in vicious competition.
The industry generally believes that with the accelerated withdrawal of backward production capacity and the formal reconstruction of price order, the polysilicon industry is expected to usher in substantial improvement in supply and demand in the third quarter. Unlike the previous "production restriction and price guarantee", this anti-involution has risen to the industry consensus of implementing the central decision-making and promoting high-quality development, and its seriousness and sustainability will far exceed the past.
Affected by this news, the polysilicon futures market performed strongly today, with the main contract (PS2609) jumping high, with an intraday increase of more than 4%. The opening price was. 00 yuan/ton 37500, which was significantly higher than yesterday's closing price of. 00 yuan/ton 35895. As of noon closing, Tongwei shares rose 6.58%, Xiexin Technology rose 7.46%, Daqo Energy rose 2.62%, and Xinte Energy rose 10.15%.
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