Technological innovation has given GCL Technology (03800.HK) fresh momentum in both innovation and cost efficiency. On the evening of January 21, the company released an update on its granular silicon business, announcing that in the fourth quarter of 2024, its granular silicon cash cost fell to a new industry low of RMB 28.17 per kilogram, breaking previous limits once again.

According to the announcement, during Q4 2024, GCL Technology produced 70,900 tons of granular silicon and recorded sales of 74,600 tons. The cash production cost, including R&D expenses, reached RMB 28.17/kg, representing a further 15% decrease from RMB 33.18/kg in Q3, setting a new industry record. For the full year 2024, the company achieved total output of 269,200 tons and shipments of 281,900 tons, while inventories continued to decline.

GCL Technology attributed the performance to continuous improvements by its R&D team, ongoing optimization of granular silicon technologies and processes, near-completion of equipment upgrades, and sustained enhancements in material balance and energy efficiency during production — all of which further reduced manufacturing costs.

An industry analyst commented, “From RMB 33.18/kg to RMB 28.17/kg in just three months, granular silicon has demonstrated an astonishing pace of iteration. Meanwhile, the continuous decline in inventory during the third and fourth quarters confirms the strengthening product advantages. As polysilicon prices begin to stabilize and rebound, GCL Technology has already shown strong resilience and differentiated competitiveness in emerging ahead of the cycle.”

In addition, GCL Technology stated in the announcement that it has fully exited all direct and indirect investments in Siemens-process polysilicon, and will now focus entirely on the development of the granular silicon industry.

According to industrial and commercial registration information, Jiangsu Zhongneng Silicon Technology Development Co., Ltd., a wholly owned subsidiary of GCL Technology, has withdrawn its indirect shareholding in Xinjiang Goens Silicon Technology Co., Ltd., marking the complete divestment of Siemens-process polysilicon equity. Previously, in 2023, GCL Technology had already fully exited the production of rod-shaped silicon.

Link：https://app.xinhuanet.com/news/article.html?articleId=9d34abdcd143c70768c6f8f8f037385f×tamp=35606