China’s Polysilicon Giants Join Forces to Tackle Overcapacity

Several major Chinese polysilicon producers have set up a joint venture to help ease overcapacity in the raw material used in the solar supply chain, according to company registration data.

The entity, called Beijing Guanghe Qiancheng Technology Co., brings together 10 companies with a registered capital of 3 billion yuan ($425 million), a company filing on Qichacha shows. Polysilicon giant Tongwei Co. will hold a 30.35% stake through a unit, while GCL Technology Holdings Ltd. and Xinjiang Daqo New Energy Co. will control 16.79% and 11.13%, respectively.