GCL Technology Holdings Limited (GCL Technology) issued a profit warning, expecting unaudited losses of approximately RMB 2.971 billion for the nine months ended September 30, 2024, a significant decrease from the audited profit of RMB 2.51 billion for the full year of 2023. The losses were mainly due to the average market price decline of polycrystalline silicon and silicon wafer products. The company also updated the situation of the photovoltaic material business segment, showing strong sales of granular silicon products, continuous optimization of cash costs, completion of technological improvements, and a recovery in production capacity utilization. The company reminds shareholders and potential investors not to overly rely on unaudited operating data and to act prudently when buying and selling shares. The announcement was issued by Chairman Zhu Gongshan on October 25, 2024.

GCL Technology Holdings Limited (GCL Technology) issued a profit warning, expecting unaudited losses of approximately RMB 2.971 billion for the nine months ended September 30, 2024, a significant decrease from the audited profit of RMB 2.51 billion for the full year of 2023. The losses were mainly due to the average market price decline of polycrystalline silicon and silicon wafer products. The company also updated the situation of the photovoltaic material business segment, showing strong sales of granular silicon products, continuous optimization of cash costs, completion of technological improvements, and a recovery in production capacity utilization. The company reminds shareholders and potential investors not to overly rely on unaudited operating data and to act prudently when buying and selling shares. The announcement was issued by Chairman Zhu Gongshan on October 25, 2024.