As the European Union imposes mandatory registration on Chinese photovoltaic (PV) products, the pressure that has long been weighing on China’s domestic PV sector is now accelerating. In a dramatic turn of events, several major players in the industry have taken significant steps over the past 24 hours. At the top and bottom of the supply chain, leading companies Yingli Green Energy and GCL-Poly have announced strategic collaboration, signaling a shift in how the industry is responding to external challenges. Meanwhile, Suntech Power, once a giant in the sector, was officially declared bankrupt and restructured by Wuxi Intermediate People's Court yesterday.
Industry analysts believe this marks the beginning of a major reshuffle in the Chinese PV sector. The rising cost of polysilicon—key raw material for solar panels—has played a key role in driving these changes. With global polysilicon markets dominated by a few international giants such as Hemlock (USA) and WACKER (Germany), prices have remained under their control. However, with the Chinese government launching anti-dumping investigations against EU polysilicon imports, the market has seen a sharp increase. According to data from PV research institutions, the price of solar-grade polysilicon has surged by 15% this year. For instance, GCL-Poly has raised its polysilicon prices from RMB 110 per kilogram before the Spring Festival to between RMB 150 and RMB 180 today.
“Some foreign polysilicon companies took advantage of the initial price cuts to flood the market with low-cost products, which led to heightened awareness among domestic producers,†said Zhang Xin, an analyst at Guoxin Securities specializing in new energy equipment. This situation has forced Chinese companies to rethink their strategies and seek stronger partnerships.
Suntech Power, one of the most well-known names in the Chinese PV industry, faced a bleak day. The company was officially placed into bankruptcy and restructuring after failing to meet its financial 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. The company’s share price, which once soared to $85 in 2007, now trades below $0.60. Yesterday also marked a leadership change, with Zhou Weiping appointed as the new executive director and president.
According to Bai Ming, deputy director of the International Market Research Department at the Ministry of Commerce’s Institute of International Trade and Economic Cooperation, the current environment for China’s PV industry is undergoing a fundamental transformation. “With the dual investigations from Europe and the U.S., and the ongoing policy support at home, the industry is being forced to adapt. Companies now face three main choices: setting up factories abroad, integrating vertically along the supply chain, or facing the consequences of not evolving.â€This Basin Faucet is our answer for lovers of clean lines and strong, dynamic forms. This solid architectural style makes its presence known in your bathroom and kitchen, but not on the environment.
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