GCL-Poly's granular silicon officially enters the ten-thousand-ton capacity matrix

On February 3, GCL-Poly Energy Holdings Limited$GCL TECH (03800.HK)$officially announced globally via live streaming that the annual effective capacity of its subsidiary, Jiangsu Zhongneng Silicon Industry Technology Development Co., Ltd., which is responsible for the R&D and manufacturing of granular silicon (FBR), has increased from 6,000 tons to 10,000 tons, officially entering the ten-thousand-ton capacity scale, adding another technological innovation matrix to China’s photovoltaic raw material sector.

At 10 a.m., the first batch of granular silicon products from Jiangsu Zhongneng’s new granular silicon production capacity officially rolled off the production line. During the commissioning ceremony, several downstream customers conducted real-time certification of GCL-Poly’s granular silicon products on-site. Relevant leaders of the GCL-Poly granular silicon team responded to and interacted with global investors on issues of concern. Chairman of the Board of GCL-Poly Energy Holdings Limited Zhu Gongshan and other company executives attended the event.

The successful increase in granular polysilicon production capacity indicates that保利协鑫, through nearly a decade of technological research and process improvement, has fully mastered the mature technologies and mass-production techniques for granular polysilicon. By constructing and managing projects at the ten-thousand-ton level,保利协鑫has established leading technical advantages and scalable replicability in project planning and construction, intelligent operation of core equipment, digital control of safe production, and systematic validation of product quality.

In recent years, with the strong support of downstream customers,保利协鑫has successfully produced perfect monocrystalline products using 100% granular polysilicon during product trials and certification. With client validation and recognition achieved, the market outlook is promising.保利协鑫will continue to execute its planned capacity expansion program for granular polysilicon, driving technological innovation and quality improvements in the materials sector of the photovoltaic industry.

Regarding保利协鑫's core competitive advantages of granular polysilicon (FBR) technology, the event shared the following: excellent product specifications—FBR granular polysilicon meets electronic-grade standards, fulfilling the high-efficiency requirements of N-type photovoltaic applications; lower production costs—under equivalent conditions, granular polysilicon production costs are about 30% less than those of rod-shaped polysilicon; significant downstream compatibility benefits—granular polysilicon helps clients enhance intelligent manufacturing processes; customer product benefits—FBR granular polysilicon significantly reduces production costs for downstream clients' monocrystalline products; the entire manufacturing process is embedded within a 'carbon recycling' system, promoting carbon neutrality and achieving carbon reduction.

Notably,保利协鑫's FBR granular polysilicon products have seen growing customer acceptance and market trust. Downstream customer validations are continuously advancing, with long-term orders increasingly covering production capacity. According to reports, major global downstream manufacturers have all passed the granular polysilicon crystal-pulling tests, with granular polysilicon better meeting clients' needs for improved monocrystalline processes and green smart manufacturing. Currently,保利协鑫maintains deep strategic cooperation with clients, with major downstream enterprises signing long-term silicon material procurement contracts with江苏中能.

This was sufficiently demonstrated at the commissioning ceremony that day. During the event,张长旭(Vice General Manager of中环股份),靳军淼(Assistant President of晶澳科技), and杨昊(General Manager of弘元新材料), as client representatives, highly affirmed the high-quality certification results of the granular polysilicon products.

Additionally, it is reported that保利协鑫's granular polysilicon products boast excellent carbon footprint performance, aiding China’s goal of achieving carbon neutrality by 2060. Calculations show that producing each kilogram of granular polysilicon saves approximately 45 kWh of electricity and about two-thirds of thermal energy compared to the traditional Siemens method, making it a leader in enabling the industry to achieve grid parity and low-carbon emissions reduction.

During the commissioning ceremony,保利协鑫also organized an investor Q&A session to publicly address and interact online with global investors regarding their concerns.

Previously, on February 2,保利协鑫released an announcement regarding the latest developments in business related to the signing of polysilicon procurement agreements with隆基绿能科技股份有限公司and天津中环半导体股份有限公司.

江苏中能硅业科技发展有限公司signed polysilicon procurement agreements with seven subsidiaries of隆基绿能科技股份有限公司. According to the agreements,江苏中能will supply no less than 91,400 tons of polysilicon to隆基及其七家子公司from March 2021 to December 2023. To meet customer expectations for granular polysilicon, the supply will include granular polysilicon products.隆基及其附属公司will sign monthly procurement orders based on their demand, with pricing negotiated according to market conditions.

江苏中能硅业科技发展有限公司signed a polysilicon procurement agreement with天津环睿电子科技有限公司, a subsidiary of天津中环半导体股份有限公司. According to the agreement,江苏中能will supply a total of 350,000 tons of polysilicon to天津环睿from January 2022 to December 2026. To meet customer expectations for granular polysilicon, each year’s supply will include a significant proportion of保利协鑫's existing and future planned granular polysilicon production capacity.天津环睿will place individual monthly orders based on its needs, with pricing following a 'one-year negotiation' mechanism principle determined through mutual consultation based on market conditions. Upon the expiration of this agreement, both parties will extend the terms for another 1-2 cycles based on friendly negotiations using the relevant terms of this agreement as a reference.

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