Leading Chinese polysilicon manufacturers have created a joint platform called Beijing Guanghe Qiancheng Technology, with the inclusion of the CPIA
Industry may use this platform to address oversupply via consolidation, improved capacity utilization, and stabilizing prices
With China controlling over 90% of global polysilicon output, coordinated action could bring price stability globally, ending the steep price-war phase
A group of 9 leading polysilicon manufacturers from China has come together, along with an entity owned by the China Photovoltaic Industry Association (CPIA), to form a new platform called Beijing Guanghe Qiancheng Technology.
Established in Beijing on December 9, 2025, the JV’s members include Tongwei Solar as its largest shareholder with 30.35% stake followed by GCL Technology Consulting Services (under GCL TECH) with 16.79% stake, as per the Chinese business information query platform AiQicha.
Shanghai East Hope New Energy Technology (11.3%), DAQO Energy (11.13%), Xinte Energy (10.12%), Asia Silicon (Qinghai) (7.79%), Lihao Clean Energy (5.13%), Beijing Zhongguang Tonghe Energy (3.37%)（under CPIA), Xinjiang Ge’ensi Energy Technology (2.02%), and Qinghai South Glass New Energy Technology (2%) (under CSG Holding) are the other members of this consortium.
While nothing has been officially announced, Chinese media reports that this polysilicon platform has been established to help the industry tackle oversupply concerns in the market by addressing inventory issues, capping prices, and ensuring capacity utilization. It will also encourage market expansion and collaboration with an aim towards cost rationalization.
Rumor has it that big companies plan to buy and phase out older, less efficient factories to bring in healthy growth in this segment, which has been marred by price declines due to overcapacity.
While this could usher in a period of consolidation in the industry, as has long been discussed, it may also influence global polysilicon prices, whose benefits may trickle down the supply chain.
Chinese polysilicon makers dominate the global supply. In 2024, China alone produced 93.5% of global polysilicon capacity, with the top 4 Chinese producers holding a 65% market share, according to Bernreuter Research (see China Dominates 2024 Global Polysilicon Production).
In a separate announcement, GCL Technology also announced the acquisition of a 42.5% equity interest in Inner Mongolia Xinyuan Silicon Material Technology. As part of this acquisition, GCL is set to establish a RMB 2.06 billion limited partnership with China Cinda Asset Management and other investors. Inner Mongolia Xinyuan is a manufacturer of granular silicon. This will give GCL complete control over the silicon manufacturer since it already owns 57.53% stake in the company under a JV with HY Solar and other small shareholders.
Massive investments and expansions, backed by government support in China, led to high polysilicon inventories in the market, while US tariffs on Chinese components added fuel to the fire.
The resultant overcapacity triggered price wars that pressured manufacturers’ margins, prompting the Chinese government to step in to curb disorderly competition (see China Steps Up Efforts To Curb Price Wars In Solar Industry).