Core Viewpoint - The expansion of registered brands for polysilicon futures by the Guangzhou Futures Exchange is a strategic response to market demands, enhancing the delivery system and supporting the real economy [1][2]. Group 1: Registered Brand Expansion - The Guangzhou Futures Exchange has added two new registered brands, "Jin Nuo" and "Dong Fang Xi Wang," to the polysilicon futures market, effective immediately [1]. - This expansion is expected to improve market liquidity and price representation, allowing futures prices to better reflect the actual supply and demand dynamics in the industry [2]. Group 2: Market Impact and Industry Response - The addition of new registered brands is seen as a critical step for companies to manage price risks and enhance their competitiveness in the polysilicon market [3]. - Companies like Xinjiang Jin Nuo New Energy and Xinjiang Dong Fang Xi Wang are preparing for warehouse registration and view participation in the futures market as essential for their development [3]. Group 3: Warehouse and Delivery System - As of December 5, the number of polysilicon futures warehouse receipts has increased to 2,320, a 75% rise from 1,330 receipts at the end of November [4]. - The futures market employs a centralized cancellation system for warehouse receipts, ensuring that only products with production dates within 90 days are registered, which aligns with downstream demand for quality [4][5]. Group 4: Future Prospects - The enthusiasm for registering warehouse receipts has increased since late November, indicating a potential for further growth in the number of receipts in the polysilicon futures market [6]. - The Guangzhou Futures Exchange plans to continue monitoring industry changes and enhance regulatory measures to maintain market stability and improve service levels [6].