The path for joint mergers and acquisitions (M&A) and restructuring in the highly anticipated polysilicon sector has begun to take shape. During this year's SNEC exhibition, Lan Tianshi, Co-CEO of GCL Technology (03800.HK), revealed in an exchange with media outlets such as Cailian Press that currently, leading enterprises in the industry are taking the lead in establishing a company operated by professional managers through a model of "direct capital contribution + debt". This company aims to achieve capacity exit and controlled output through acquisitions, and then repay liabilities through profits, thereby promoting the orderly exit of industry capacity. "In the future, participants may invest and repay debts with real money through equity or forms such as limited partnerships (LPs)," Lan Tianshi said.

Since May, 11 leading Chinese PV enterprises, including LONGi Green Energy Technology, JA Solar Technology {{PV}}, Tongwei Co., Ltd., Chint New Energy, AIKO Solar, Hoshine Silicon Industry, GCL SI, Gokin Solar, and Seraphim {{PV company}}, have signed a series of overseas PV projects. According to incomplete statistics from Polaris Power Network, the orders cover countries and regions such as Australia, Germany, Portugal, Turkey, Zambia, Peru, and the UAE.

Recently, GCL Technology Holdings Limited released the news, certified by the French Environment and Energy Control Agency (ADEME), the full life cycle carbon footprint of granular silicon products in Hohhot factory down to 18.050 kg CO2 equivalent / kg, refresh the world's single granular silicon production base (excluding industrial silicon) the lowest carbon footprint record.

①The acceleration of capacity exit and the high inventory levels coexist. Can the supply-side reform of the PV industry chain truly reverse the industry's surplus situation? ②Financial reports frequently show signals of "hitting bottom." Is the logic behind the valuation repair of the PV sector sustainable? (Finance Link)

Recently, GCL Technology announced that, as certified by the French Agency for the Environment and Energy Management (ADEME), the carbon footprint of granular polysilicon products over their full life cycle at its Hohhot granular polysilicon production site has been reduced to 18.05 kg of carbon dioxide equivalent (CO2e) per kg, setting a new global record for the lowest carbon footprint among single granular polysilicon production sites (excluding silicon metal).

On May 1, Guangzhou Development New Energy Group announced the winning candidates for small and micro distributed PV projects, which were divided into 15 sections with a total capacity of 1.092 GW. Specifically, Skyworth, Midea, TrinaSolar, Nenghui Technology, Xinmaide, GCL, and other enterprises were the first-ranked winning candidates, with winning unit prices ranging from 2.6 to 3.6 yuan/W. See the table below for details:

On May 1, Guangzhou Development New Energy Group announced the bid winners for small and micro distributed PV projects, which were divided into 15 sections with a total capacity of 1.092 GW. Specifically, Skyworth, Midea, TrinaSolar, Nenghui Technology, Xinmaide, GCL, and other companies were the first-ranked bid winners, with bid unit prices ranging from 2.6 to 3.6 yuan/W. See the table below for details: According to the tender documents, the scope of the tender includes, but is not limited to, the procurement of PV modules, inverters, brackets, cables, power distribution equipment, equipment installation, commissioning, trial operation, and related services (related services include, but are not limited to: the bid winner is responsible for collecting project information, submitting it to the bid inviter for review and confirmation, assisting the bid inviter in signing lease agreements with farmers, owners of public buildings, and owners of idle public spaces, and providing all other necessary related services to ensure the normal operation and power generation of specific projects after project implementation, including equipment production, transportation, storage, loading and unloading, installation, commissioning, acceptance, etc.), as well as the first-year operation and maintenance work, with the bid winner bearing all related costs. The integrated service project for the integration, development, and handover of small and micro distributed PV equipment in regions such as Huazhou City and Xinyi City in Maoming City, Guangdong Province (fourth batch) is divided into 8 sections by region, with a total installed capacity limit of 792 MW. The specific division of the sections is as follows: Section 1: Parts of Maoming City and Zhanjiang City Integrated service locations: Huazhou City, Maoming City; Xinyi City, Maoming City; Wuchuan City, Zhanjiang City; Leizhou City, Zhanjiang City; Suixi County, Zhanjiang City; Xuwen County, Zhanjiang City. Section 2: Part of Guangxi Zhuang Autonomous Region 1 Integrated service locations: Liujiang District, Liuzhou City; Yongfu County, Guilin City; Du'an County, Hechi City; Jinchengjiang District, Hechi City; Luocheng County, Hechi City; Babu District, Hezhou City; Pinggui District, Hezhou City; Wuxuan County, Laibin City; Xingning District, Nanning City; Binyang County, Nanning City; Mashan County, Nanning City; Tianyang County, Baise City; Fangcheng District, Fangchenggang City; Gangkou District, Fangchenggang City; Dongxing City, Fangchenggang City. Section 3: Parts of eastern Guangdong Integrated service locations: Xiangqiao District, Jiexi County, Huilai County, Longhu District, and Chengqu District of Shanwei City. Section 4: Part of Guangxi Zhuang Autonomous Region 2 Integrated service locations: Lingshan County, Qinzhou City; Xincheng County, Laibin City; Xiangzhou County, Laibin City; Tiandong County, Baise City; Tengxian County, Wuzhou City; Beiliu City, Yulin City; Xingye County, Yulin City; Tiandeng County, Chongzuo City. Section 5: Parts of Sichuan Province, Chongqing City, and Guiyang City Integrated service locations: Nanbu County, Nanchong City; Dayi County, Chengdu City; Dujiangyan City, Chengdu City; Wangcang County, Guangyuan City; Wansheng Economic Development Zone, Chongqing City; Liangping County, Chongqing City; Kaixian County, Chongqing City; Pengshui County, Chongqing City; Wushan District, Chongqing City; Qingzhen City, Guiyang City. Section 6: Parts of Hubei Province Integrated service locations: Huangpi District, Wuhan City; Yunyang District, Shiyan City; Xishui County, Huanggang City; Macheng City, Huanggang City; Huangmei County, Huanggang City. Section 7: Parts of Beijing City, Langfang City, and Tianjin City 1 Integrated service locations: Changping District, Beijing (array type); Pinggu District, Beijing (array type); Dacheng County, Langfang City (array type); Sanhe County, Langfang City (array type); Xianghe County, Langfang City (array type); Wen'an, Langfang City (array type); Jizhou District, Tianjin (Luozhuangzi Town, Sangzi Town, and surrounding areas) (array type); Jizhou District, Tianjin (Youguzhuang Town, Dongzhao Town, and surrounding areas) (array type); Baodi, Tianjin (array type); Wuqing, Tianjin (array type); Sanhe County, Langfang City (north and south slopes); Xianghe County, Langfang City (north and south slopes). Note: ① The installed capacity limit for a single county (district or city) in the integrated service locations is 12 MWp. Among them, the installed capacity limit for Changping District, Beijing (solar shed); Pinggu District, Beijing (solar shed); and Dacheng County, Langfang City (solar shed) is 4 MWp. The installed capacity limit for Wen'an, Langfang City (array type); Jizhou District, Tianjin (Youguzhuang Town, Dongzhao Town, and surrounding areas) (array type); Wen'an, Langfang City (solar shed); and Jizhou District, Tianjin (Luozhuangzi Town, Sangzi Town, and surrounding areas) (solar shed) is 6 MWp. The installed capacity limit for Changping District, Beijing (array type); Pinggu District, Beijing (array type); and Dacheng County, Langfang City (array type) is 8 MWp. ② This project consists of eight sections. The same bidder is allowed to win up to three sections at most (except in cases where the first-ranked bid winner of a certain section gives up or is disqualified), that is, the same bidder can only be recommended as the first-ranked bid winner for up to three sections of this project in section order. See the bid evaluation method for details. The integrated service project for the integration, development, and handover of small and micro distributed PV equipment in regions such as Liuzhou City and Shaoguan City, Guangdong Province (fifth batch) is divided into 7 sections by region, with a total installed capacity limit of 348 MW. The specific division of the sections is as follows: Section 1: Parts of Guangxi Zhuang Autonomous Region and Qujing City Integrated service locations: Rongan County, Liuzhou City; Tian'e County, Hechi City; Donglan County, Hechi City; Zhaoping County, Hezhou City; Qingxiu District, Nanning City; Wuming District, Nanning City; Shanglin County, Nanning City; Mengshan County, Wuzhou City; Qinnan District, Qinzhou City; Qinbei District, Qinzhou City; Cenxi City, Wuzhou City; Qilin District, Qujing City; Economic Development Zone, Qujing City. Section 2: Part of Shaoguan City 1 Integrated service locations: Renhua County, Shaoguan City; Zhenjiang District, Shaoguan City. Section 3: Part of Shaoguan City 2 Integrated service locations: Nanxiong City, Shaoguan City; Lechang City, Shaoguan City; Xinfeng County, Shaoguan City; Ruyuan Yao Autonomous County, Shaoguan City. Section 4: Part of Sichuan Province and Chongqing City 1 Integrated service locations: Gaoping District, Nanchong City; Wusheng County, Guang'an City; Xuzhou District, Yibin City; Fengdu County, Chongqing City. Section 5: Part of Chongqing City 2 Integrated service locations: Wulong District, Chongqing City; Fuling District, Chongqing City. Section 6: Parts of Kunming City Integrated service locations: Jinning District, Kunming City; Songming County, Kunming City. Section 7: Part of Sichuan Province 2 Integrated service locations: Zhongjiang County, Deyang City; Bayingolin Mongolian Autonomous Prefecture, Bazhong City. Note: ① The installed capacity limit for a single county (district or city) in the integrated service locations is 12 MWp. ② This project consists of seven sections. The same bidder is allowed to win up to two sections at most (except in cases where the first-ranked bid winner of a certain section gives up or is disqualified), that is, the same bidder can only be recommended as the first-ranked bid winner for up to two sections of this project in section order. See the bid evaluation method for details.

On April 16, the 2025 (10th) New Energy Industry Expo, hosted by SMM Information & Technology Co., Ltd., was grandly held at Halls F3-G3 of the Suzhou International Expo Center in Jiangsu, April 16-18. The conference officially opened on April 16, with multiple academicians, top-tier entrepreneurs, and industry professionals engaging in lively discussions on topics such as a decade of review and outlook on the new energy industry, Europe's perspectives and challenges on sustainable, circular, and safe batteries, how to build a globally collaborative battery value chain, China's new energy mineral demand and outlook, mineral resource reserve management and risk prevention, the distribution patterns, metallogenic characteristics, and exploration directions of nickel ore resources in western China, interpretation of the new mineral resources law, and global cobalt market dynamics. On April 18, three forums—the Overseas Market Forum, the Low-Altitude Economy Forum, and the Suzhou Virtual Power Plant Ecosystem Forum (3rd)—will be held simultaneously. This article provides a live text broadcast of these three forums. SMM will provide full coverage of the conference through text, images, and video live broadcasts. Please refresh to view! Click to view the live photo broadcast. Click to view the special report on this summit. Overseas Market Forum. Topic: EU Lithium-Ion Battery Recycling. Guest Speaker: Andrea Mirandola, Global Business Director, Duesenfeld GmbH. 09:00-09:30. Topic: Scaling Up Solid-State Battery Manufacturing: Challenges and Innovations. Guest Speaker: Richard Bouveret, CEO, Blue Solutions. 09:30-10:00. Topic: Catalonia: A Dynamic, Industrialized, Open, and Innovative Economy. Guest Speaker: Shumin Zhang, Senior Trade and Investment Officer, Catalonia Trade & Investment Shanghai Office. 10:00-10:30. Topic: Investment Opportunities in Thailand. Guest Speaker: Baofen Zhong, Director and Consul, Thailand Board of Investment Shanghai Office. 10:30-10:55. Topic: Assisting Chinese Enterprises in Overseas Factory Construction. Guest Speaker: Fei Ye, Vice President, Open Hungary. 10:55-11:20. Topic: How to Enter Europe: Opportunities and Strategic Policy Guidance for Chinese Battery Enterprises. Guest Speaker: Dennis Roman Gallus, Principal Consultant, Roland Berger. 11:20-11:40. Roundtable Discussion: Exploring the Transformation of the Global Battery Market. Moderator: Rui Ma, Head of New Energy Research, SMM. Guest Speakers: Dr. Olayinka Fayomi, Chairman, FIN Overseas Investment Alliance; Mattias Debroyer, Economic and Commercial Consul, Brussels Capital Region Representative, Belgium Investment Promotion Agency; Fergal Harrington, Business Development Director, Beatty E-magy; Tom Fairlie, Senior Sustainability Manager, International Cobalt Association. 11:40-12:30. Low-Altitude Economy Forum. Topic: Current Status and Trends in the Low-Altitude Economy Industry. Guest Speaker: Ying Zhou, Deputy Secretary General, Shanghai General Aviation Association. 09:00-09:30. Topic: New Battery Scenarios: The Green Heart Driving eVTOL to Soar. Guest Speaker: Dr. Weiran Jiang, R&D Vice President and Dean of the R&D Institute, Farasis Energy (Ganzhou) Co., Ltd. 09:30-10:00. Topic: "Low-Altitude + N" Illuminates the Future: A Trillion-Dollar Track Leading Industrial Leap. Guest Speaker: Yuehua Meng, Vice President, United Aircraft Group. 10:00-10:30. Topic: Investment Opportunities in the Low-Altitude Economy and Analysis of Rotor/Propeller Technology Challenges. Guest Speaker: Changwei Yang, Chief Expert, Minth Group. 10:30-11:00. Topic: Solutions for Urban Low-Altitude Economic Development. Guest Speaker: Congxi Chen, Director of the Low-Altitude Economy Committee, Aircraft Owners and Pilots Association of China, Researcher. 11:00-11:30. Suzhou Virtual Power Plant Ecosystem Forum (3rd). Leadership Messages and Speeches. Suzhou Development and Reform Commission. State Grid (Suzhou) Urban Energy Research Institute. Yanting Yi, Vice President, SMM. 09:00-09:30. Topic: Global Outlook and Experience Analysis of Virtual Power Plants. Guest Speaker: Zhanghua Zheng, Senior Researcher, Global Energy Interconnection Development and Cooperation Organization. 09:30-09:40. Topic: Sharing Typical International Virtual Power Plant Market Mechanisms. Guest Speaker: Wenjuan Niu, Senior Engineer, State Grid Jiangsu Economic Research Institute. 09:40-10:00. Topic: Analysis of Domestic and Overseas Virtual Power Plant Practices and Suggestions for High-Quality Development. Guest Speaker: Yuchen Cao, Researcher, Energy Internet Research Institute, State Grid Energy Research Institute. 10:00-10:20. Topic: "Analysis of Key Issues in the High-Quality Development of Virtual Power Plants in China." Guest Speaker: Xiaodong Zhao, Senior Engineer, Energy Research Institute, China Macroeconomic Research Institute. 10:20-10:40. Topic: Thoughts on the Development Models and Technical Forms of Virtual Power Plants. Guest Speaker: Shuyang Wang, Virtual Power Plant Business Director, Energy Use Research Institute, China Electric Power Research Institute. 10:40-11:00. Topic: Sharing the Construction Ideas of Typical Domestic Virtual Power Plant Projects. Guest Speaker: Tao Zheng, Deputy Chief Engineer, R&D Center, NARI Technology Co., Ltd. 11:00-11:20. Topic: "What Kind of Power Market is Needed for Virtual Power Plants + Microgrids + V2G?" Guest Speaker: Yu Liao, Founder, German Chinese New Energy Association. 11:20-11:40. Establishment Ceremony of the Jiangsu Provincial Society of Electrical Engineering Power Market Committee. 11:40-12:00. Topic: Practice of Provincial Virtual Power Plant Dispatch and Control System Construction. Guest Speaker: Wenfei Yi, Director, Automation Office, Relay Protection Automation Center, State Grid Jiangsu Electric Power Research Institute. 13:30-13:50. Topic: Synergistic Carbon Reduction Between Industrial Virtual Power Plants and New Power Systems. Guest Speaker: Siyang Liao, Associate Professor, School of Electrical and Automation Engineering, Wuhan University. 13:50-14:10. Topic: Suzhou's "15th Five-Year Plan" Virtual Power Plant Development Path Planning and Suggestions. Guest Speaker: Dr. Guang Chen, Deputy Director, Energy Strategy and Planning Research Institute, State Grid (Suzhou) Urban Energy Research Institute. 14:10-14:30. Topic: Empowering Energy Assets with Virtual Power Plants: Practical Experience. Guest Speaker: Yanan Qian, Deputy General Manager, GCL Sheneng Integrated Energy Service Co., Ltd. 14:30-14:50. Topic: Suzhou Virtual Power Plant Practice Cases and Future Outlook. Guest Speaker: Qiang Zhang, Deputy General Manager, Jiangsu Huagong New Energy Technology Co., Ltd. 14:50-15:10. Topic: Evolving Energy: Virtual Power Plant Technology Paths and Outlook. Guest Speaker: Wenqi Dong, Virtual Power Plant Project Expert, GoodWe Technologies Co., Ltd. 15:10-15:30. Topic: Thoughts on Virtual Power Plant Applications Under New Policies for New Energy's Full Entry into the Power Market. Guest Speaker: Haiming Fu, Deputy General Manager and Head of Smart Energy Division, Shanghai Caishen Energy Technology Co., Ltd. 15:30-15:50. Topic: Practice of Large-Scale Vehicle-to-Grid Interactive Virtual Power Plants Based on Intelligent Decision-Making. Guest Speaker: Chen Xiang, Power Trading Director, Shanghai NIO Co., Ltd. 15:50-16:10. Click to view the special report on the 2025 (10th) New Energy Industry Expo.

In the upcoming year of 2025, we anticipate that the global economy will face a series of complex and volatile challenges. With the US presidential election concluded, the uncertainty of global trade policies is expected to further increase, presenting new issues for international trade cooperation. In the realm of geopolitics, ongoing conflicts and tensions show no significant signs of easing, posing threats not only to global security but also significantly impacting resource allocation and industrial layouts. Against this macro backdrop, industrial relocation and supply chain restructuring have become key topics that we must closely monitor. At the industrial level, the trend of protectionism in mineral resources is on the rise, directly affecting the stability of global copper concentrate TCs. With the rapid expansion of global smelting capacity, the profit margins of copper smelters are further compressed, and the challenges faced by the industry are becoming increasingly severe. In the field of secondary copper raw materials, the advancement of Environmental, Social, and Governance (ESG) standards and the "dual carbon" goals have significantly increased market attention to secondary copper. However, the "reverse invoicing" policy implemented in 2024 and the "Fair Competition Regulations" have had profound impacts on the secondary copper industry. Looking ahead to 2025, the changes in the landscape of the secondary copper industry will have a critical impact on the entire copper industry chain. Additionally, with the cancellation of tax subsidies and other incentives, the space for copper cathode trade is expected to further narrow. We predict that the procurement ratio of copper processing materials between traders and smelters will show more pronounced differentiation. In this context, the "CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo," meticulously prepared by SMM, will be grandly held in Nanchang, Jiangxi from April 22-25, 2025. GCL Energy Storage Technology (Suzhou) Co., Ltd. will make a splendid appearance at this conference. We will synchronize with the times, aim at our goals, strive diligently, and move forward with courage and determination! Click the registration form to sign up immediately, and we look forward to meeting you at the conference. Booth number: C14. Escorting the new future of energy security. Company Introduction: As one of the earliest enterprises involved in electrochemical energy storage in China, GCL Energy Storage Technology (Suzhou) Co., Ltd. focuses on the R&D, production, sales, and service of energy storage equipment. Relying on advanced new energy systems and power R&D platforms, the company uses new-type chemical batteries as carriers and adopts a self-developed software and hardware nested operation mode to provide comprehensive and efficient solutions for centralized and distributed application scenarios. Currently, the company has built and put into operation energy storage intelligent manufacturing bases in Zhangjiagang and Kunshan, completing a series of product core technology innovations such as packaging boxes, electrical control modules, box integration, warehouse management systems, environmental management systems, microgrid controllers, and medium and large-scale energy storage equipment. The products are widely used in scenarios such as power stations, factory parks, deserts, and islands, committed to contributing more GCL wisdom to the global energy transition. Company Advantages: GCL's energy storage system life cycle management is guided by the core of "zero carbon," achieving planning-asset closed-loop through technological iteration, model innovation, and policy-driven approaches, supporting the construction of new power systems and zero-carbon industrial parks. Core Business: Intelligent Manufacturing Base, Product Matrix, User Side Projects, Power Generation and Grid Side Projects. Contact: Jianjun Ren, 13776205636.

China Datang Corporation's 2025-2026 PV module framework procurement results have been announced, with a total of 13 companies winning the bids. The winning companies are: Jinko Solar Co., Ltd., Tongwei Co., Ltd., JA Solar Technology Co., Ltd., LONGi Solar Technology Co., Ltd., DAS Solar New Energy Technology Co., Ltd., Chint New Energy Technology Co., Ltd., Canadian Solar Changshu Co., Ltd., GCL System Integration Technology Co., Ltd., TrinaSolar Co., Ltd., Risen Energy New Energy Co., Ltd., Anhui Huasen New Energy Technology Co., Ltd., SPIC New Energy Technology Co., Ltd., and Zhejiang AIKO Solar Technology Co., Ltd.