TONGWEI CO.,LTD(SH:600438) Zheng Quan Ri Bao Wang·2025-05-14 11:43Group 1 - The integration and capacity clearance in the polysilicon industry are expected to accelerate, with six leading companies planning to establish a fund for mergers and acquisitions to clear excess capacity [1][2] - The polysilicon industry has experienced rapid growth from 2021 to 2023, but a mismatch in supply and demand has led to a significant drop in prices, resulting in nearly 19 billion yuan in losses for major companies [2][5] - A proposed fund of 70 billion yuan aims to acquire and integrate polysilicon production capacities outside the six participating companies, as part of a strategy to address the current market challenges [2][3] Group 2 - The industry consensus is shifting towards capacity control, with most polysilicon producers operating at reduced capacity due to ongoing price declines and significant losses [4][5] - The average transaction price for N-type granular silicon has decreased by 2.7% to 36,000 yuan per ton, reflecting the downward trend in the photovoltaic supply chain [4] - Companies are expected to adjust their production plans, with a projected reduction in domestic polysilicon output to approximately 96,000 tons in May, a decrease of about 3% [4]