Zhittong Finance APP learned that GCL Tech (03800) rose more than 4% in early trading, and as of press time, it has risen 3.67% to HKD 1.13, with a turnover of HKD 63.9846 million.

On June 3, Xinxin Securities pointed out that the United Arab Emirates is actively transitioning to clean energy and this cooperation between GCL Tech and Mubadala, a sovereign fund, will promote the development of the local photovoltaic industry chain in the UAE from the material end. The bank indicated that the company's overseas polycrystalline silicon project is expected to accelerate its pace and start construction within 2024.

Chuancai Securities pointed out that as a second-generation silicon-based material in the photovoltaic industry, granular silicon is expected to continue to increase its penetration rate due to its advantages in comprehensive energy consumption and production cost. Compared with traditional rod-shaped silicon, granular silicon's main advantage lies in its lower production cost and production efficiency improvement. With the continuous increase in demand for cost reduction in the photovoltaic industry, the competitive advantage of granular silicon is expected to further emerge. It is reported that GCL Tech has completely exited the production of rod-shaped silicon and is fully deploying in the granular silicon industry, and is expected to further increase its penetration rate with the full industry cost advantage in the future.