Core Viewpoint - The "polysilicon storage plan" proposed by leading polysilicon companies aims to acquire existing production capacities to adjust the industry structure and combat overcapacity, which has led to low utilization rates and declining prices in the polysilicon market [2]. Group 1: Market Dynamics - The polysilicon storage plan has been a significant topic since May, stimulating market interest and leading to stock price increases for several leading polysilicon companies [2]. - Polysilicon, as an upstream industry of photovoltaics, is facing challenges such as low production utilization and continuous price declines, prompting the need for the storage plan [2]. - The storage plan is characterized by a market-driven approach, contrasting with traditional administrative methods of capacity adjustment, potentially offering a new path for the industry [2]. Group 2: Legal and Regulatory Considerations - There are substantial antitrust risks associated with the capacity coordination mechanism led by industry associations or major companies, as it may violate the Anti-Monopoly Law of the People's Republic of China [3]. - The storage plan must navigate legal frameworks to avoid antitrust violations, which could hinder its implementation and pose risks for the future of China's photovoltaic industry [3][4]. Group 3: Long-term Implications - While the storage plan may provide short-term relief, it is essential to assess its potential long-term negative impacts on the industry [4]. - The plan could lead to increased market share and profits for leading companies, but it may also raise concerns about the efficiency of the industry and the selection of production capacities [6]. - The risk of forming a cooperative mechanism among leading companies post-storage could lead to price or capacity alliances, which would violate competitive principles and harm industry development [6]. Group 4: Recommendations for Implementation - The design of the storage plan should protect the interests of small and medium-sized enterprises, ensuring that not all parties benefit equally [7]. - A reasonable mechanism should be established to hold certain companies accountable for their past capacity expansion decisions [7]. - Strengthening antitrust oversight after the implementation of the storage plan is crucial to prevent the formation of alliances among leading companies [7]. Group 5: Broader Industry Context - The issue of "involution" in the polysilicon industry is complex, stemming from various factors including local government influences and inadequate intellectual property protections [7]. - Adjusting production capacity is only a starting point; addressing the root causes of industry challenges requires ongoing technological innovation and industrial upgrades [7].