On the evening of October 28, 2025, CCTV2's financial channel featured a special report on the solar industry in its "Economic Half-Hour" segment, highlighting the shift from price competition to innovation-driven high-quality development. Zhu Gongshan, Chairman of GCL Group, and Zhong Baoshen, Chairman of LONGi Green Energy, were interviewed. Zhu stated that 17 companies have essentially signed agreements, and the consortium is expected to be established within the year.
According to reports, China's solar installed capacity has achieved leapfrog growth. In 2024, the country's newly added installed capacity increased by approximately 45% year-on-year, nearly 20 times higher than in 2015, marking solar energy's transition from a supplementary power source to a major incremental contributor.
Zhongtai Securities noted that the "15th Five-Year Plan" positions green transformation as a core objective, explicitly emphasizing the consolidation and expansion of the wind and solar industry advantages. Since late June 2025, national-level "anti-internal competition" policies have been intensively introduced. Six government departments jointly held a solar industry symposium to regulate competition and steer the sector toward healthy and sustainable development, bringing substantial benefits to both supply and demand.
Technologically, the solar industry is undergoing profound changes. In 2025, China officially bid farewell to the P-type era, with N-type monocrystalline silicon technology expected to account for over 96.9% of the market share. TOPCon, HJT, and BC technologies are advancing in parallel, continuously improving battery efficiency and reducing per-unit costs. After adjustments, the industry's fundamentals show an upward trend, and "anti-internal competition" policies are expected to optimize the competitive landscape and support profit recovery.
Shenwan Hongyuan's research report highlighted that the market's focus on solar supply-side reform centers on the establishment of a joint platform. The current consortium, comprising 17 major companies, targets the most critical supply-side issue—polysilicon—through mechanisms like capacity coordination, quality grading, and voluntary production cuts to curb disorderly expansion.
Since the implementation of "anti-internal competition," participation has expanded, and product prices have shown significant recovery. In Q3 2025, the polysilicon industry began raising prices under the "no sales below cost" regulation, gradually restoring profitability above comprehensive cost levels.
Related Hong Kong-listed solar industry stocks: GCL TECH (03800), XINTE ENERGY (01799), FLAT GLASS (06865), XINYI SOLAR (00968), FUYAO GLASS (03606), and TRIUMPH NEW EN (01108).