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: