Core Viewpoint - The establishment of the polysilicon storage platform "Guanghe Qiancheng" marks a significant shift in China's photovoltaic industry, moving from a fully market-driven competition phase to a new stage of "market operation + industry collaborative regulation" [1][7]. Group 1: Formation of the Storage Platform - The polysilicon storage platform "Guanghe Qiancheng" was officially registered on December 10, 2023, amidst the industry's overall "anti-involution" trend [1]. - The platform aims to eliminate excess capacity and settle accumulated debts within the industry [1]. Group 2: Shareholding Structure - "Guanghe Qiancheng" has a registered capital of 3 billion yuan, with shareholders comprising 10 photovoltaic and polysilicon companies [3]. - Major shareholders include Tongwei Co., Ltd. and GCL-Poly Energy Holdings, which together account for nearly 70% of the industry's effective polysilicon capacity [3][4]. Group 3: Pricing Mechanism Changes - The establishment of the storage platform is expected to fundamentally change the polysilicon pricing mechanism, with future sales prices including a "storage cost" [6]. - The mainstream price of polysilicon is projected to stabilize above 60,000 yuan per ton, marking a critical step towards industry value recovery and establishing a long-term healthy ecosystem [6][7]. Group 4: Market Reactions and Trends - Following the announcement of the storage platform, the capital market reacted with a decline in stock prices for major companies, including Tongwei and GCL-Poly [6]. - As of December 9, 2023, the spot price of polysilicon had risen nearly 50% from its low earlier in the year, reaching 52,000 yuan per ton [7].

Core Viewpoint - Beijing Guanghe Qiancheng Technology Co., Ltd. is established as a "polysilicon storage platform" with a registered capital of 3 billion RMB, aiming to promote strategic cooperation among companies in the photovoltaic industry [2][5][10]. Company Information - The company was officially registered on December 9, 2025, with a registered capital of 30 billion RMB [3][5]. - The legal representative is Hou Yicong, and the company is classified as a limited liability company (foreign-invested and domestic joint venture) [3][5]. Shareholder Composition - Guanghe Qiancheng has 10 shareholders, including notable companies such as Xinte Energy, Qinghai Lihua New Energy Technology, Tongwei Photovoltaic Technology, Daqo Energy, and others [5][10]. - The largest shareholder is Tongwei Photovoltaic, holding 30.35% with a subscribed capital of 910.5 million RMB [8][10]. - Other significant shareholders include Shanghai Dongfang Hope New Energy (11.3%), Daqo Energy (11.13%), and Xinte Energy (10.12%) [8][10]. Financial Contributions - Tongwei Photovoltaic's contribution is 910.5 million RMB, while Daqo Energy and Xinte Energy contributed 333.9 million RMB and 303.6 million RMB, respectively [10]. - The company also has contributions from other shareholders, including 503.7 million RMB from GCL-Poly Energy and 153.9 million RMB from Qinghai Lihua [10]. Management and Personnel - The company has disclosed information about 13 personnel, including Hou Yicong as the legal representative and Qian Cheng as the chairman [10][11]. - The board includes industry professionals such as Ding Xiaoke from Tongwei and Liu Yiyang from the China Photovoltaic Industry Association [10][11]. Industry Context - Guanghe Qiancheng is viewed as a platform to facilitate strategic cooperation in the polysilicon sector amid ongoing efforts to reduce "involution" in the photovoltaic industry [10][12]. - The company aims to explore potential collaborations and promote healthy industry development, although specific acquisition operations remain unclear [10][12].

Core Viewpoint - The establishment of a silicon material storage platform marks a significant event in the photovoltaic industry, indicating a shift towards reducing production capacity and addressing overcapacity issues in the sector [2][5][21]. Group 1: Background and Development - The silicon material storage platform, named Beijing Guanghe Qiancheng Technology Co., Ltd., was officially established on December 9, with a registered capital of 3 billion [2]. - The platform was formed by ten photovoltaic companies, primarily silicon material producers, including Tongwei, GCL, and Daqo Energy [2][18]. - The industry has been anticipating the establishment of this platform since mid-2025, with various discussions and speculations circulating in the market [5][6]. Group 2: Market Reactions and Challenges - Following the announcement of the platform's establishment, major silicon material companies saw significant stock price increases, with some rising by 10% on the same day [6]. - However, negative sentiments emerged in November when claims of the "failure of anti-involution" led to a sharp decline in the photovoltaic sector, with the photovoltaic ETF dropping by 11.27% from November 12 to December 10 [9][8]. - The concerns regarding "anti-monopoly" issues have been cited as a major factor affecting the implementation of the anti-involution measures [11][14]. Group 3: Future Outlook - Despite the challenges, the photovoltaic industry is expected to reach a turning point, with potential for asset revaluation as the market begins to focus on the recovery of photovoltaic asset valuations [21][25]. - The effectiveness of the silicon material reduction plan will be crucial for improving the fundamentals and performance of photovoltaic companies [23]. - The anticipated recovery in the market is expected to begin in the first or second quarter of the following year, with price increases in silicon materials likely to benefit upstream companies first [24][25].

Core Viewpoint - The establishment of Beijing Guanghe Qiancheng Technology Co., Ltd. with a registered capital of 3 billion yuan is seen as a significant move towards creating a "polysilicon storage platform" in the photovoltaic industry, backed by major players and the China Photovoltaic Industry Association [1][5][10]. Group 1: Company Formation and Shareholders - Guanghe Qiancheng Company was registered on December 9, with a capital of 30 billion yuan and is located in Chaoyang District, Beijing [1]. - The company has 10 shareholders, including major polysilicon and photovoltaic firms such as Tongwei, GCL, Daqo Energy, and Xinte Energy, indicating strong industry backing [2][3]. - The shareholding structure reveals that Tongwei holds 30.35%, GCL 16.79%, and other significant shares are distributed among leading companies in the polysilicon sector [3][5]. Group 2: Industry Context and Price Trends - Polysilicon prices have dramatically decreased from a peak of 300,000 yuan per ton in 2022 to around 35,000 yuan per ton, causing financial strain on many companies [7]. - As of December 3, 2025, polysilicon prices have stabilized around 50,000 yuan per ton, with N-type reconstituted material averaging 53,200 yuan per ton [7][8]. - The industry is experiencing a "反内卷" (anti-involution) movement aimed at stabilizing prices and ensuring that sales do not fall below production costs [7][11]. Group 3: Strategic Initiatives and Concerns - The polysilicon storage plan involves major companies forming an operational entity to manage capacity and stabilize market prices, although there are concerns from downstream companies about potential price increases [10]. - Industry leaders emphasize the need for capacity integration to balance supply and demand across the photovoltaic supply chain, which is heavily concentrated in China [11].

Core Viewpoint - The establishment of Beijing Guanghe Qiancheng Technology Co., Ltd. marks a significant development in the photovoltaic industry, potentially serving as a platform for the integration and acquisition of polysilicon production capacity, although details remain unclear [1][10]. Company Overview - Guanghe Qiancheng is a limited liability company with a registered capital of 3 billion yuan, focusing on technology services, consulting, and management [2][10]. - The company is located in a relatively quiet area of Beijing, with limited visibility and presence in its office building [2][4]. Shareholder Structure - Guanghe Qiancheng has ten shareholders, predominantly from the polysilicon sector, with the largest shareholder being Tongwei Group's Tongwei Photovoltaic Technology, holding 30.35% [10][11]. - Other significant shareholders include GCL-Poly Energy and Shanghai Dongfang Hope New Energy, indicating strong backing from leading companies in the polysilicon market [10][11]. Industry Context - The formation of Guanghe Qiancheng is seen as part of a broader strategy among leading polysilicon companies to consolidate production capacity and optimize costs amid a challenging market environment [1][17]. - The current market for polysilicon remains under pressure, with prices stabilizing at low levels due to weak supply and demand dynamics [17].

Core Viewpoint - The establishment of a long-awaited silicon material storage platform company named "Beijing Guanghe Qiancheng Technology Co., Ltd." has been confirmed, with a registered capital of 3 billion yuan [1] Group 1: Company Formation - Guanghe Qiancheng was registered on December 9, with its registered capital set at 3 billion yuan and located in Chaoyang District, Beijing [1] - The company’s shareholder structure includes ten entities, with major shareholders being Tongwei Photovoltaic Technology (Emei Mountain) Co., Ltd. (30.35%), GCL-Poly Energy Holdings Limited (16.79%), and others [2][3] - The last shareholder, Beijing Zhongguang Tonghe Energy Technology Co., Ltd., is fully owned by the China Photovoltaic Industry Association, indicating industry association involvement [3] Group 2: Market Reaction - Following the announcement of Guanghe Qiancheng's establishment, the stock prices of several participating silicon material companies, including Tongwei and GCL-Poly, fell by over 3% on December 10 [5] - In contrast, the prices of polysilicon futures increased by over 1% on the same day [5] Group 3: Industry Context - The establishment of the storage platform is part of a broader effort to consolidate silicon material production capacity amid industry challenges [4] - Current average transaction prices for domestic N-type polysilicon materials have seen significant increases, with prices rising by 28.19%, 34.69%, and 30.15% for different types of materials compared to the beginning of the year [4]

作者 | 第一财 经 陆如意 日前注册成立、被业内称为"多晶硅平台公司"的北京光和谦成科技有限责任公司（下称"光和谦 成"），今日在企业信息查询平台更新了股东信息。 2025.12. 10 本文字数：1034，阅读时长大约2分钟 实际上，大半年以来，通威股份、协鑫科技等硅料头部厂商及行业协会已开始牵头推进业内简称 为"收储"的产能整合计划，拟通过筹集资金、承债式收购等方式，整合并淘汰行业过剩及落后产能， 进而稳定多晶硅市场供需结构。 而近两日，光和谦成公司的注册成立或意味着光伏产能整合和"反内卷"的持续深入和取得阶段性成 果。此外，随着"反内卷"的持续推进，多晶硅价格已从今年7月的低点回调约50%。 微信编辑 | 夏木 第 一 财 经 持 续 追 踪 财 经 热 点 。 若 您 掌 握 公 司 动 态 、 行 业 趋 势 、 金 融 事 件 等 有 价 值 的 线 索 ， 欢 迎 提 供 。 专 用 邮 箱 ： bianjibu@yicai.com 第一财经记者日前从知情人士处了解到："该注册企业主要为探索行业内潜在战略合作机会，如技术 升级、市场拓展、产能与成本优化。" 12月10日，第一财经记者查阅企查查 ...

今年10月，协鑫集团董事长朱共山就曾提到，已有17家企业签字基本同意搭建多晶硅收储联合体，预计 于2025年内完成。同月，通威、协鑫等多家多晶硅厂商实控人齐聚上海，就产能整合联合体的股权分 配、资金筹集、责任划分等核心细节进行最终确认。 北京商报讯（记者马换换王蔓蕾）"多晶硅平台公司"北京光和谦成科技有限责任公司（以下简称"光和 谦成"）成立的传闻传播一天后，12月10日，该公司股东名单正式披露，通威、协鑫、大全能源等硅料 龙头均在列。 据了解，光和谦成成立于2025年12月9日，法定代表人为侯一聪，公司注册资本30亿元，地址位于北京 市朝阳区垡头化工东里3号36号楼6层B6221房间。 天眼查显示，光和谦成第一大股东系通威光伏科技（峨眉山）有限公司（以下简称"通威光伏科技"）持 股30.35%，通威光伏科技是通威股份控股孙公司；第二大股东系协鑫科技咨询服务（苏州）有限公司 （以下简称"协鑫科技咨询"），持股比例为16.79%，协鑫科技咨询系协鑫系背景；上海东方希望新能源 科技有限公司、大全能源、新特能源则分别持股11.3%、11.13%、10.12%，位列公司第三、第四、第五 大股东。 另外，光和谦成股东还 ...

今年10月，协鑫集团董事长朱共山就曾提到，已有17家企业签字基本同意搭建多晶硅收储联合体，预计 于2025年内完成。同月，通威、协鑫等多家多晶硅厂商实控人齐聚上海，就产能整合联合体的股权分 配、资金筹集、责任划分等核心细节进行最终确认。 北京商报讯（记者 马换换 王蔓蕾）"多晶硅平台公司"北京光和谦成科技有限责任公司（以下简称"光和 谦成"）成立的传闻传播一天后，12月10日，该公司股东名单正式披露，通威、协鑫、大全能源等硅料 龙头均在列。 不过，今年11月12日也曾出现"乌龙"事件，市场出现"收储平台黄了"的传闻，该消息当天也重创光伏板 块，最终遭到中国光伏行业协会辟谣。 据了解，光和谦成成立于2025年12月9日，法定代表人为侯一聪，公司注册资本30亿元，地址位于北京 市朝阳区垡头化工东里3号36号楼6层B6221房间。 天眼查显示，光和谦成第一大股东系通威光伏科技（峨眉山）有限公司（以下简称"通威光伏科技"）持 股30.35%，通威光伏科技是通威股份控股孙公司；第二大股东系协鑫科技咨询服务（苏州）有限公司 （以下简称"协鑫科技咨询"），持股比例为16.79%，协鑫科技咨询系协鑫系背景；上海东方希望新能源 ...

据企查查信息，该公司注册资本30亿元，经营范围包含技术服务、技术开发、技术咨询、技术交流、技 术转让、技术推广；企业管理咨询。 据企业信息查询平台披露信息，光和谦成的法定代表人侯一聪现为春泉资本创始人，其创立的春泉资本 主要服务于股权投资机构，为机构搭建投后管理体系、制定管理策略、处置风险项目等一系列的投后外 包服务。 他的职业经历贯穿投资尽调、风险管理、投后管理及处置退出等金融机构全链条核心业务。曾在信永中 和会计师事务所担任项目经理工作7年，并在IDG资本、九鼎投资多年负责投后管理工作，负责项目超 50家，基金投资规模超百亿，在项目并购、协议执行等项目处置实操中积累了丰富的投后退出经验。 日前注册成立、被业内称为"多晶硅平台公司"的北京光和谦成科技有限责任公司（下称"光和谦成"）， 今日在企业信息查询平台更新了股东信息。 第一财经记者日前从知情人士处了解到："该注册企业主要为探索行业内潜在战略合作机会，如技术升 级、市场拓展、产能与成本优化。" 12月10日，第一财经记者查阅企查查信息发现，光和谦成由9家硅料企业共同出资成立。其中，两大硅 料巨头通威集团（600438.SH）和协鑫集团（协鑫科技主营硅料业 ...