2025 年 12 月 29 日 工业硅：关注情绪面提振盘面 多晶硅：区间震荡，波动较大 张 航 投资咨询从业资格号：Z0018008 zhanghang2@gtht.com 【基本面跟踪】 工业硅、多晶硅基本面数据 【宏观及行业新闻】 12 月 26 日，市场监管总局在安徽合肥对光伏行业开展价格竞争秩序合规指导。市场监管总局通报了 光伏行业价格违法问题和风险，并指出，当前光伏行业存在的低质竞争、同质化重复建设等"内卷式"竞争 行为，让企业普遍面临盈利困境，扭曲了市场资源配置，抑制了企业在技术创新与产品升级上的投入意愿， 请务必阅读正文之后的免责条款部分 1 国 泰 君 安 期 货 研 究 所 | | | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | Si2605收盘价（元/吨） | 8,880 | 45 | 190 | -140 | | | | | Si2605成交量（手） | 534,570 | 266,135 | 219,244 | 165,345 | | | | | S ...

中国国家市场监管总局：严禁光伏企业不正当竞争行为 中新社合肥12月26日电 中国国家市场监管总局26日在安徽合肥对光伏行业开展价格竞争秩序合规指 导，通报光伏行业价格违法问题和风险，强调维护市场公平竞争秩序。 国家市场监管总局指出，当前光伏行业存在的低质竞争、同质化重复建设等"内卷式"竞争行为，让企业 普遍面临盈利困境，扭曲了市场资源配置，抑制了企业在技术创新与产品升级上的投入意愿，形成"劣 币驱逐良币"效应。 国家市场监管总局强调，全行业要充分认识整治光伏行业"内卷式"竞争的重要性。光伏企业要依法依规 开展生产经营，严禁价格串通、价格欺诈等不正当价格行为；坚决杜绝虚假宣传、商业贿赂等不正当竞 争行为。发电企业要切实承担起应负责任，在光伏项目招标中坚持优质优价，加强对产品质量的要求。 行业协会要切实履行自律职能，引导企业通过创新提升、质量优化和服务升级实现共赢，共同推动形成 健康有序、可持续发展的行业生态。 国家市场监管总局称，将通过加大产品质量监督力度、加强价格和反不正当竞争执法等手段，严厉查处 违法违规行为，切实维护市场公平竞争秩序，推动光伏行业规范健康可持续发展。(完) 来源：中国新闻网 编辑：王永乐 ...

Group 1 - The photovoltaic sector experienced significant gains on August 18, with the Wind Photovoltaic Index rising by 1.76% and multiple stocks, including Hongyuan Green Energy and Kehua Data, seeing substantial increases [1] - Over 20 stocks in the photovoltaic sector reached their daily limit or increased by over 10% in the previous trading day, with the photovoltaic ETF fund rising nearly 4%, marking its best single-day performance since May 2024 [1] - The futures market for polysilicon saw a resurgence in expectations, with a 4.5% increase in the main contract on August 15 and a nearly 2% rise on August 18 [1] Group 2 - The Ministry of Industry and Information Technology (MIIT) is set to hold a meeting on August 19 with key photovoltaic enterprises, indicating a focus on the pricing mechanism for photovoltaic components [2] - The meeting will include representatives from various official institutions and major enterprises, highlighting the sensitivity of pricing mechanisms in the current market environment [2] - Recent price increases in the photovoltaic industry have faced challenges due to a lack of demand-side support, leading to concerns about the sustainability of these price hikes [3] Group 3 - Since early July, prices for silicon materials and wafers have risen significantly, but by mid-August, the lack of demand has made further price increases difficult [3] - The investment models for photovoltaic projects have been impacted by changes in electricity pricing policies and rising product costs, complicating the situation for developers [3] - Recent data indicates that the prices for large-scale component procurement by state-owned enterprises have rebounded, with upcoming bids from major companies becoming focal points for market attention [3]