China unconditionally approves Tongwei's acquisition of Lihao Qingneng to combat solar overcapacity
On September 24, China's State Administration for Market Regulation unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a major polysilicon producer. The regulator stated the deal supports market-based mergers to combat low-level homogeneous 'involution' competition. Despite the combined entity's high market share in solar-grade polysilicon, SAMR concluded sufficient capacity and competitors ensure effective competition. The approval follows multiple government actions in 2025 to curb overcapacity, including joint ministry meetings, new energy consumption standards, and an industry anti-involution pledge signed by eight major polysilicon firms in August.
IllustrationEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
China's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
China's State Administration for Market Regulation (SAMR) has unconditionally approved Tongwei Co., Ltd.'s acquisition of a stake in Qinghai Lihao Qingneng Co., Ltd., a major solar-grade polysilicon producer. The decision, announced on September 24, 2026, follows an in-depth investigation into the photovoltaic supply chain, including consultations with industry associations and upstream/downstream companies. SAMR found that while the combined entity would hold a high market share in the global and Chinese solar-grade polysilicon market, current market conditions—including ample capacity and numerous competitors—ensure effective competitive constraints. The regulator stated the transaction will not eliminate or restrict competition in the relevant market. The approval reflects SAMR's policy of supporting market-based mergers to optimize resource allocation and reduce low-level, homogeneous, 'involution-style' competition. The regulator pledged to continue enhancing anti-monopoly review efficiency to promote fair competition and industrial upgrading.
Read sourceChina unconditionally approves Tongwei's acquisition of Lihao Qingneng in solar anti-involution push
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved silicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., stating the deal supports market-based mergers to combat low-level homogeneous 'involution' competition. SAMR determined the transaction would not eliminate or restrict competition despite the combined entity's high market share in solar-grade polysilicon, citing sufficient capacity and competitors. The approval follows multiple government actions this year to curb overcapacity in the solar sector, including joint ministry meetings in April and new mandatory energy efficiency standards in July. In August, eight major polysilicon producers signed an 'Anti-Involution Initiative' pledging not to sell below cost and to phase out outdated capacity. The article notes that industry efforts to form a silicon material purchasing platform were previously blocked by regulators. Analysts at Galaxy Futures suggest recent production cuts by two leading polysilicon firms may expand after October, potentially strengthening industry confidence in anti-involution measures.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a major polysilicon producer. The regulator stated the deal supports market-based mergers to combat low-level, homogeneous 'involution' competition in the solar industry. Tongwei, a silicon material leader with over 90 million tons of annual high-purity polysilicon capacity, announced the planned 100% acquisition in February. Lihao Qingneng has over 20 million tons of operating capacity and 10 million tons under construction. SAMR concluded the transaction would not eliminate or restrict market competition due to sufficient capacity and competitors. The approval follows multiple government actions this year to curb 'involution' in the solar sector, including industry meetings and new energy efficiency standards. In August, eight major polysilicon firms signed an anti-involution pledge. The article notes industry overcapacity and price pressures, with analysts from Galaxy Futures suggesting recent production cuts by two leading firms may strengthen anti-involution efforts.
Read sourceShow 17 older updatesHide older updates
China's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved the acquisition of Qinghai Lihao Qingneng Co., Ltd. (Lihao Qingneng) by polysilicon giant Tongwei Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level, homogeneous 'involution' competition. Tongwei had announced the planned 100% acquisition in February 2025. As of mid-2025, Tongwei's annual high-purity polysilicon capacity exceeded 90 million tons, while Lihao Qingneng had over 20 million tons of capacity, ranking in the industry's top ten. SAMR's competition analysis concluded the deal would not eliminate or restrict market competition due to sufficient capacity and numerous competitors. The article notes that throughout 2025, Chinese authorities have pushed for 'anti-involution' in the solar industry, including joint meetings and new energy consumption standards. In August, eight major polysilicon firms signed an 'Anti-Involution Initiative' pledging not to sell below cost. The article also recounts previous failed industry attempts at capacity control, including a storage platform that was subject to regulatory scrutiny. Analysts at Galaxy Futures suggest recent production cuts by two leading polysilicon firms may strengthen industry confidence in anti-involution efforts.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a major polysilicon producer. SAMR stated the deal supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. Despite the combined entity holding a high market share in solar-grade polysilicon, SAMR concluded the market has sufficient capacity and competitors to maintain effective competition. The approval follows multiple government initiatives in 2025 to address overcapacity in the solar industry, including joint ministry meetings, new energy consumption standards, and an industry 'Anti-Involution Initiative' signed by eight leading polysilicon firms in August. The initiative pledges to avoid selling below cost and to phase out outdated capacity. The article notes that earlier industry efforts to form a polysilicon purchasing platform were halted after regulatory intervention. Analysts at Galaxy Futures suggest recent production cuts by two major polysilicon firms may expand after October, potentially strengthening industry confidence in anti-involution measures.
Read sourceChina unconditionally approves Tongwei's acquisition of Lihao Qingneng in solar anti-involution push
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a major polysilicon producer. SAMR stated the deal supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. Tongwei, the silicon leader with over 90万吨 annual capacity, will acquire Lihao's 20万吨+ operating capacity and 10万吨 under construction. Despite combined high market shares in solar-grade polysilicon, SAMR concluded the market has sufficient capacity and competitors to maintain effective competition. The approval follows multiple government actions in 2025, including an April multi-ministry industry meeting and July mandatory energy efficiency standards. In August, eight leading polysilicon firms signed an anti-involution pledge against below-cost pricing. The industry has struggled with overcapacity and losses since 2024, with earlier attempts at production curbs facing regulatory scrutiny. Galaxy Futures noted two top firms have begun output cuts, with potential expansion in October, signaling strengthened anti-involution resolve.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a polysilicon producer. SAMR stated the deal supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. Tongwei, a silicon material leader with over 90 million tons of annual high-purity polysilicon capacity, announced the planned 100% acquisition in February. Lihao Qingneng has over 20 million tons of operating capacity and 10 million tons under construction. SAMR concluded the transaction would not eliminate or restrict competition due to sufficient market capacity and competitors. The approval aligns with 2025 government efforts to curb overcapacity in the solar photovoltaic industry, including multi-department meetings, new energy consumption standards, and an 'anti-involution' pledge signed by eight major polysilicon firms in August. The industry has faced price declines and losses due to oversupply. A previous attempt to form a silicon material purchasing platform was halted after regulatory talks. Galaxy Futures noted that two leading polysilicon firms have begun reducing output, potentially strengthening industry anti-involution confidence.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved the acquisition of Qinghai Lihao Qingneng Co., Ltd. (Lihao Qingneng) by polysilicon leader Tongwei Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level, homogeneous 'involution' competition. The regulator concluded that despite the combined entity's high market share in solar-grade polysilicon, sufficient capacity and competitors ensure effective competition. The article notes that throughout 2025, Chinese authorities have intensified efforts to curb 'involution' in the solar photovoltaic industry, including joint meetings, new energy efficiency standards, and an industry 'Anti-Involution Initiative' signed by eight major polysilicon firms in August. The initiative pledges to avoid selling below cost and to phase out outdated capacity. The report also details previous failed attempts at industry coordination, such as a polysilicon storage platform that was later subject to regulatory scrutiny. Analysts from Galaxy Futures suggest that recent production cuts by two leading polysilicon companies may strengthen industry confidence in anti-involution measures.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved silicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., citing that the deal will not eliminate or restrict competition in the solar-grade polysilicon market despite the combined entity's high market share. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. The approval follows multiple government efforts this year to curb overcapacity and promote consolidation in the photovoltaic industry, including joint meetings by the Ministry of Industry and Information Technology and other regulators, new energy efficiency standards, and an anti-involution pledge signed by eight major polysilicon companies in August. The article notes that polysilicon capacity has been in surplus since 2025, leading to sustained low prices and industry losses. A previous industry attempt to form a purchasing and storage platform was blocked by regulators. Analysts at Galaxy Futures suggest that recent production cuts by two leading polysilicon firms may expand after October, potentially strengthening industry confidence in anti-involution measures.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved the acquisition of Qinghai Lihao Qingneng Co., Ltd. (Lihao Qingneng) by polysilicon leader Tongwei Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. Tongwei had announced the planned 100% acquisition on February 24, 2025. As of mid-2025, Tongwei's annual high-purity polysilicon capacity exceeded 900,000 tons, while Lihao Qingneng had over 200,000 tons of operational capacity and 100,000 tons under construction, ranking among the top ten in the industry. SAMR concluded that despite the combined entity's high market share, the solar-grade polysilicon market has sufficient capacity and many competitors, ensuring effective competitive constraints. The article notes that multiple Chinese government departments have pushed for anti-involution measures in the solar industry since April 2025, including energy consumption standards. In August 2025, eight major polysilicon companies signed an anti-involution pledge. The report also mentions earlier failed attempts at industry coordination, including a storage platform that was subject to regulatory scrutiny. Galaxy Futures commented that recent production cuts by two leading polysilicon firms may expand after October, potentially strengthening industry confidence in anti-involution efforts.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved the acquisition of Qinghai Lihao Qingneng Co., Ltd. (Lihao Qingneng) by polysilicon leader Tongwei Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. Tongwei had announced the planned 100% acquisition on February 24, 2025. As of mid-2025, Tongwei's annual high-purity polysilicon capacity exceeded 90 million tons, while Lihao Qingneng had over 20 million tons of capacity with 10 million tons under construction. SAMR concluded the transaction would not eliminate or restrict competition despite the combined entity's high market share, citing sufficient capacity and competitors. The article notes that multiple Chinese government departments have pushed for anti-involution measures in the solar industry since April 2025, including energy consumption standards. In August 2025, eight major polysilicon companies signed an anti-involution pledge. The report also mentions previous failed industry attempts at capacity control, including a storage platform that was later investigated by regulators. Galaxy Futures commented that recent production cuts by two leading polysilicon firms may strengthen industry anti-involution confidence.
Read sourceChina unconditionally approves Tongwei's acquisition of Lihao Qingneng to combat solar industry overcapacity
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved silicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., stating the deal will not restrict competition and supports market-based mergers to reduce low-level, homogeneous 'involution' competition. Tongwei, with over 90 million tons of annual polysilicon capacity, is acquiring Lihao, which has over 20 million tons of capacity. The approval follows multiple government actions this year to combat overcapacity in the solar sector, including joint ministry meetings, new energy efficiency standards, and an 'Anti-Involution Initiative' signed by eight major polysilicon firms in August, pledging to avoid below-cost pricing and phase out outdated capacity. The industry has faced severe oversupply and losses since 2025, with earlier attempts at production curbs and price support via a storage platform being blocked by regulators. Analysts at Galaxy Futures suggest recent production cuts by two leading firms may strengthen industry confidence in anti-involution efforts.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a polysilicon producer. SAMR stated the deal supports market-based mergers to optimize resource allocation and combat low-level, homogeneous 'involution' competition. Tongwei, a leading silicon producer with over 90 million tons of annual high-purity polysilicon capacity, announced the planned 100% acquisition in February. Lihao Qingneng has over 20 million tons of operating capacity and 10 million tons under construction. SAMR concluded the transaction would not eliminate or restrict competition due to sufficient market capacity and competitors. The approval aligns with 2025 government efforts to curb overcapacity in the solar industry, including multi-department meetings, new energy consumption standards, and an industry 'anti-involution' pledge signed by eight major polysilicon companies in August. The industry has faced price pressure and losses from overcapacity, with earlier attempts at production controls facing regulatory scrutiny. Analysts at Galaxy Futures suggest recent production cuts by two major firms may signal stronger industry-wide anti-involution efforts.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved the acquisition of Qinghai Lihao Qingneng Co., Ltd. (Lihao Qingneng) by polysilicon leader Tongwei Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level homogeneous 'involution' competition. Tongwei had announced the planned 100% acquisition on February 24, 2025. As of mid-2025, Tongwei's annual high-purity polysilicon capacity exceeded 900,000 metric tons, while Lihao Qingneng had over 200,000 metric tons of capacity. SAMR concluded the transaction would not eliminate or restrict competition due to sufficient market capacity and competitors. The article notes that multiple Chinese government departments have pushed for 'anti-involution' in the solar industry since April 2025, including issuing energy consumption standards. In August 2025, eight major polysilicon companies signed an 'Anti-Involution Initiative' pledging not to sell below cost. The report also mentions earlier failed attempts at industry coordination, including a storage platform that was later subject to regulatory scrutiny. Analysts at Galaxy Futures suggest recent production cuts by two leading polysilicon firms may strengthen industry confidence in anti-involution efforts.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., a major polysilicon producer. SAMR stated the deal would not eliminate or restrict competition in the solar-grade polysilicon market, despite the combined entity's high market share, citing sufficient capacity and competitors. The approval aligns with government efforts to combat 'involution' (neijuan) in the solar industry, which has faced overcapacity and low prices. In 2025, multiple Chinese ministries have pushed for consolidation, energy efficiency standards, and anti-dumping measures. Eight leading polysilicon firms signed an 'Anti-Involution Initiative' in August 2025, pledging to avoid below-cost pricing and phase out outdated capacity. Tongwei's acquisition is seen as a potential model for industry restructuring. Analysts at Galaxy Futures noted that two major polysilicon firms have begun reducing output, with further cuts expected after October, potentially strengthening industry confidence in ending the price war.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved silicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., stating the deal will not exclude or restrict competition in the solar-grade polysilicon market despite the combined entity's high market share. The regulator emphasized that the decision supports market-based mergers to optimize resource allocation and combat low-level, homogeneous 'involution' competition. The approval follows a broader government push against industry overcapacity, including multi-department meetings in April 2025 and new energy consumption standards issued in July. In August, eight major polysilicon firms signed an 'Anti-Involution Initiative' pledging not to sell below cost and to phase out outdated capacity. The article notes that earlier industry attempts at price stabilization, such as a proposed silicon material purchasing platform, faced regulatory scrutiny. Analysts at Galaxy Futures suggest that recent production cuts by two leading polysilicon firms, potentially expanding after October, may strengthen industry confidence in anti-involution measures.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved the acquisition of Qinghai Lihao Qingneng Co., Ltd. (Lihao Qingneng) by polysilicon leader Tongwei Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level, homogeneous 'involution' competition. Tongwei had announced the planned 100% acquisition in February 2025. As of mid-2025, Tongwei's annual high-purity polysilicon capacity exceeded 900,000 metric tons, while Lihao Qingneng had over 200,000 metric tons of capacity, ranking among the top ten in the industry. SAMR's competition analysis concluded the combined entity would still face effective competition due to ample market capacity and numerous competitors. The article notes that throughout 2025, multiple Chinese government departments have pushed for 'anti-involution' measures in the solar industry, including new energy consumption standards. In August, eight major polysilicon companies signed an 'Anti-Involution Initiative' pledging not to sell below cost. The article also mentions previous failed attempts at industry coordination, such as a polysilicon storage platform that was later subject to regulatory scrutiny. A futures analyst suggested that recent production cuts by two leading polysilicon firms could strengthen industry confidence in anti-involution efforts.
Read sourceChina's Market Regulator Unconditionally Approves Tongwei's Acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved polysilicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd. SAMR stated the decision supports market-based mergers to optimize resource allocation and combat low-level, homogeneous 'involution' competition. Tongwei had announced the planned 100% acquisition in February 2025. SAMR's competition analysis concluded that despite the combined entity's high market share in solar-grade polysilicon, sufficient capacity and competitors would maintain effective competition. The article notes that throughout 2025, multiple Chinese government departments have pushed for 'anti-involution' measures in the solar industry, including joint meetings, new energy consumption standards, and an industry 'Anti-Involution Initiative' signed by eight major polysilicon firms in August. Previous industry attempts at price stabilization, such as a proposed polysilicon storage platform, faced regulatory scrutiny. Analysts at Galaxy Futures suggest recent production cuts by two leading polysilicon firms may strengthen industry confidence in anti-involution efforts.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved silicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., stating the deal will not exclude or restrict competition in the solar-grade polysilicon market despite the combined entity's high market share. SAMR noted sufficient capacity and many competitors remain. The approval reflects regulatory support for market-based mergers to combat low-level homogeneous 'involution' competition. This year, multiple Chinese ministries have pushed for anti-involution measures in the photovoltaic industry, including joint meetings, new energy consumption standards, and price competition bans. On August 6, eight major polysilicon companies signed an anti-involution pledge. The industry has faced overcapacity and low prices since 2025, with earlier attempts at production curbs and price support facing regulatory scrutiny. Analysts at Galaxy Futures suggest recent production cuts by two leading firms may strengthen industry confidence in anti-involution efforts.
Read sourceChina's market regulator unconditionally approves Tongwei's acquisition of Lihao Qingneng
On September 24, China's State Administration for Market Regulation (SAMR) unconditionally approved silicon giant Tongwei Co., Ltd.'s acquisition of Qinghai Lihao Qingneng Co., Ltd., stating the deal will not exclude or restrict competition in the solar-grade polysilicon market despite the combined entity's high market share. The decision is framed as supporting market-based mergers to reduce low-level, homogeneous 'involution' competition. The article notes that multiple Chinese government departments have pushed for anti-involution measures in the solar industry since early 2025, including joint meetings, new energy consumption standards, and an industry 'Anti-Involution Initiative' signed by eight major polysilicon firms in August. Previous industry attempts to form a silicon material purchasing and storage platform were blocked by regulators. Analysts at Galaxy Futures suggest that recent production cuts by two leading polysilicon firms may strengthen industry confidence in anti-involution efforts.
Read source