GCL TECH's profit from the photovoltaic materials business segment in the third quarter was approximately 960 million yuan, turning a profit compared to a loss in the same period last year

According to the announcement from GCL TECH (03800), based on the preliminary assessment of the group's latest unaudited management accounts, the company's board of directors hereby informs the company's shareholders and potential investors of the following unaudited key operating data related to the photovoltaic materials business segment for the period from July 1, 2025, to September 30, 2025:

1. During the relevant period, the company's unaudited profit from the photovoltaic materials business segment was approximately RMB 960 million (including after-tax proceeds of approximately RMB 640 million from the sale of an associate); compared to the unaudited loss from the company's photovoltaic materials business segment in the same period last year, the company achieved a turnaround to profit during the period;

2. During the relevant period, the company's unaudited adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the photovoltaic materials business segment was approximately RMB 1.41 billion; compared to the unaudited adjusted LBITDA (Loss Before Interest, Taxes, Depreciation, and Amortization) from the company's photovoltaic materials business segment in the same period last year, the company achieved a turnaround to profit during the period; and

3. The average external selling price of granular silicon in the third quarter (including tax) was RMB 42.12 (per kilogram); the average production cash cost was RMB 24.16 (per kilogram, including R&D costs);

The company is a transformer in the polysilicon industry and a leader in the country's new quality productivity. Based on advanced silane fluidized bed technology, the company's granular silicon production capacity has an absolute leading advantage in energy consumption, fully complying with the new energy consumption standards proposed in the draft mandatory national standard "Energy Consumption Limits for Silicon Polysilicon and Germanium Unit Products" released by the National Standards Committee on September 16, 2025.

The company is committed to accelerating the polysilicon industry's exit from the predicament of "involution" and vicious competition, actively strengthening collaborative cooperation with upstream and downstream partners in the industry chain to achieve a win-win goal for the industry chain; the company insists on a production strategy based on sales and low inventory, continuously promoting market price recovery in the photovoltaic industry chain, achieving sustainable development for the industry, and contributing to the overall healthy cycle of the industry