The Zhitong Finance App learned that GCL Technology (03800) rose more than 6% in the afternoon. As of press release, it had risen 4.82% to HK$239, with a turnover of HK$311 million.

According to statistics from the China Photovoltaic Industry Association, the market share of rod-shaped silicon in 2021 was 95.9%, and the market share of granulated silicon increased from the previous year to 4.1%. If the production capacity of granulated silicon expands further, and with the improvement of production processes and the expansion of downstream applications, the market share will increase further.

GCL Technology announced in March this year that all of its first 20,000 ton granular silicon modular projects in China were put into operation, and production is still continuing to expand. New projects will be put into operation in Xuzhou, Leshan, and Baotou this year, and production capacity of all silicon materials is expected to reach 360,000 tons by the end of this year. Jiang Limin, executive director of GCL Technology Central Research Institute, expects that with the implementation of new production capacity, the market share of granulated silicon is expected to rise to 10% by the end of this year.