In the first half of 2025, the PV industry accelerated its shift from “homogeneous internal competition” toward high-quality competition.

GCL Technology delivered a resilient performance: revenue of CNY 5.735 billion, R&D investment of CNY 353 million. The company maintained low-inventory operations for granular silicon, aligning production with sales to achieve dynamic production-sales balance. In Q2, cash cost remained at CNY 25.31/kg, maintaining an industry-leading position. With the lowest global carbon footprint of 14.441 kgCO₂e/kg, GCL empowered the GCL Carbon Chain, helping the industry shift from a “carbon factor follower” to a “carbon standard setter.”

Technical moat continues to solidify:

• Products with total metallic impurity ≤0.3 ppbw in 5 key elements now account for over 75% of granular silicon output.

• Turbidity ≤70 NTU products surged to 57.4%.

• The world’s first GW-scale perovskite base has commenced production, ranking top globally in efficiency and stability, while the AI R&D system accelerates iteration.

• Electronic-grade multicrystalline silicon maintains a leading position in purity and stability, securing its status as a cutting-edge technology benchmark.

Guided by the “Infinity” ESG philosophy, GCL Technology continues to leverage technology as the foundation, actively respond to industry self-regulation initiatives, foster a healthy competitive ecosystem, and advance toward a “Zero-Carbon GCL World.”