As the European Union enforces mandatory registration of Chinese photovoltaic (PV) products, the pressure on China’s domestic PV sector has intensified, pushing the industry into a period of transformation. Just yesterday, several major players in the sector took significant steps, signaling a shift in strategy. At the top and bottom of the supply chain, leading companies Yingli Green Energy and GCL-Poly have begun collaborating more closely. Meanwhile, Suntech Power, once a major player in the industry, was officially declared bankrupt and placed under restructuring by the Wuxi Intermediate People's Court.
Industry experts suggest that the PV sector is now entering a phase of consolidation, where only the most resilient companies will survive. The recent rise in polysilicon prices, a key raw material for solar panels, has played a major role in this development. The global polysilicon market has long been dominated by international giants like Hemlock from the U.S. and WACKER from Germany, whose pricing decisions have significantly influenced the industry. However, with the upcoming Chinese anti-dumping investigations targeting European polysilicon imports, prices have surged sharply.
According to data from photovoltaic research institutions, the price of solar-grade polysilicon has increased by 15% this year. For example, GCL-Poly saw its polysilicon prices jump from around RMB 110 per kilogram before the Spring Festival to as high as RMB 150-180 per kilogram. "Some foreign polysilicon producers took advantage of the initial market downturn to flood the market with low-cost products, which triggered concerns among domestic manufacturers," said Zhang Xin, an analyst at Guoxin Securities specializing in new energy and electrical equipment.
Suntech Power, another major name in the Chinese PV industry, faced a difficult day. The company was officially declared bankrupt and restructured after failing to meet its debt obligations. By the end of February, nine major banks, including ICBC, Agricultural Bank of China, and China Construction Bank, had extended a total of RMB 7.1 billion in credit to Suntech. Its share price has plummeted from a high of $85 in 2007 to less than $0.60 at the time of its bankruptcy filing. The company also announced a leadership change, appointing Zhou Weiping as its new executive director and president.
Experts believe that the current environment for the domestic PV industry has become increasingly challenging. Bai Ming, deputy director of the International Market Research Department at the Ministry of Commerce’s Institute of International Trade and Economic Cooperation, noted that due to ongoing anti-dumping investigations from both the EU and the U.S., as well as China’s own investigations into European polysilicon imports, the industry is undergoing a major transformation. Companies are now forced to choose between setting up factories abroad, integrating their supply chains, or facing the risk of being left behind in the competitive landscape.Rain Shower Head with Handheld Shower Faucet Set Complete with High Pressure.Includes one-piece cartridge to simplify installation and maintenance.Our shower system provides free replacement parts in 5 years.
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