HONG KONG, April 1, 2025/ PRNewswire/– On March 28th, GCL Innovation (Stock code: 3800. HK) launched its 2024 yearly monetary report, exposing that the business has actually accomplished consecutive decrease in losses considering that 2Q2024, with total functional basics supporting and enhancing in the middle of extreme market competitors.
From January to February 2025, the typical money expense (consisting of R&D) of granular polysilicon even more dropped to CNY 27.14/ kg, while the tax-exclusive market price increased to CNY 31.1/ kg. Compared to 3Q2024’s money expense of CNY 33.18/ kg and tax-exclusive rate of CNY 28.98/ kg, this marks considerable expense decreases and stable rate boosts. The percentage of premium granular polysilicon items has actually gone beyond 95%, with a market share of 25.76%.
In 2024, GCL Innovation’s granular polysilicon overall capability reached 480,000 loads, with production striking 269,200 loads (up 32% YoY) and deliveries reaching 281,900 loads (up 45% YoY), accomplishing a sales-to-production ratio of 105%.
Especially, GCL Innovation revealed it has actually totally left all direct and indirect financial investments connected to Siemens-method polysilicon production, rerouting focus to its 4 significant 100,000-ton granular polysilicon bases in Xuzhou ( Jiangsu), Leshan ( Sichuan), Hohhot, and Baotou (Inner Mongolia).
Service registration records reveal that on 20 th January, 2025, Jiangsu Zhongneng (a wholly-owned subsidiary of GCL Innovation) withdrew its indirect shareholding on Xinjiang Goens, marking the total divestment of GCL Innovation’s staying indirect stakes in Siemens-method polysilicon task.
Formerly, in December 2023, GCL Innovation revealed that its Xinjiang partner prepared to disperse dividends and redeemed all shares held by Jiangsu Zhongneng. Nevertheless, the business kept partial indirect ownership post-transaction. The most recent organization registration upgrade validates GCL Innovation’s complete exit from Xinjiang Goens and its total disengagement from Siemens-method rod-polysilicon financial investment, severing all ties with Xinjiang-based polysilicon capability. Thus, presently GCL Innovation has neither ownership nor any organization activity with Xinjiang Goens.
A GCL Innovation’s representative highlighted the business’s dedication to human rights as a foundation of its operations, promoting for flexibility, equality, and absolutely no tolerance for required or prejudiced practices. The business lines up with worldwide acknowledged human rights structures to make sure compliance with domestic and worldwide requirements.
To date, 4 of GCL Innovation’s crucial production bases have actually acquired SA8000 Social Duty Management System accreditation, with 2 extra bases going through accreditation, intending to cover over 70% of its operations.
View initial material: https://www.prnewswire.com/news-releases/gcl-technology-stock-code-3800hk-fully-exits-xinjiang-rod-polysilicon-investment-redirecting-focus-on-fbr-granular-polysilicon-production-302417843.html
SOURCE GCL Innovation
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