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8 Key CN Polysilicon Firms Pledge Not to Sell Photovoltaic Products Below Cost; GCL TECH Up 4%+, XINTE ENERGY Up 8%+
2026-08-07 10:29:29 Eight major Mainland Chinese polysilicon companies jointly signed an anti-involution initiative statement in Shanghai last night (6th), pledging that the selling prices of all photovoltaic products, including tender quotations, must not be lower than the corresponding costs calculated under the industry standard "General Principles for Cost Accounting Models in the Photovoltaic Industry". Sales below full cost must be stopped and corrected immediately, while companies will voluntarily accept supervision and inspection by market regulatory authorities at all levels. Companies should also strengthen mutual supervision and promptly report and file complaints with industry associations and the State Administration for Market Regulation when discovering illegal below-cost sales practices. The companies also pledged to strictly implement new energy consumption standards and proactively phase out outdated high-energy-consuming production capacity. The eight companies include four listed firms: TONGWEI (600438.SH), GCL TECH (03800.HK), DAQO ENERGY (688303.SH) and XINTE ENERGY (01799.HK). Together, they account for more than 90% of the country's effective polysilicon production capacity. GCL TECH (03800.HK) last quoted at HKD0.7 this morning (7th), up 4.48%, with trading volume of 160 million shares and turnover of HKD112 million. XINTE ENERGY (01799.HK) last quoted at HKD4.33, up 8.52%, with trading volume of 1.566 million shares and turnover of HKD6.728 million. In addition, XINYI SOLAR (00968.HK) last quoted at HKD2.395, up 3.23%, with turnover of HKD116 million. FLAT GLASS (06865.HK) last quoted at HKD7.58, up 2.85%, with turnover of HKD56.5405 million. ~ AASTOCKS Financial News Website: www.aastocks.com | |