February 26th News: Starting from April 1, 2026, China will abolish the value-added tax (VAT) export rebate policy for products such as photovoltaics. Chempricehub's analysis of polysilicon, with a long-short rating of -2: The cancellation of the VAT export rebate policy will increase the export costs of photovoltaic products, reduce their international competitiveness, and lead to a decrease in the export demand for photovoltaic modules. This indirectly reduces the demand for upstream raw materials like polysilicon, and it is expected that the pressure of oversupply in the domestic spot market will increase, with prices facing downward risks. The analysis indicates a significant negative impact.