On September 4, GCL TECH rose 5.07% in regular trading, trading at HKD 0.725 per share, with turnover of approximately HKD 71.34 million. The solar energy sector broadly strengthened on the day, driven by multiple converging catalysts.

On the industry front, market sources indicate that a meeting among polysilicon producers may be convened this week to coordinate production cuts aimed at supporting prices. Meanwhile, July photovoltaic new installations recorded year-on-year growth turning positive for the first time this year, signaling a demand-side recovery. These developments align with a broader supply-side tightening narrative following the anti-price-war initiative signed by eight major polysilicon producers in August.

On the company front, GCL Group Chairman Zhu Gongshan disclosed on September 3 that the company's flagship fifth-generation-plus cathode material C20 will begin volume supply to CATL. The company plans to build over 750,000 tons of capacity in Sichuan by end of next year and is simultaneously expanding into silicon-carbon anode materials. Bocom International recently maintained a Buy rating, highlighting the LFP cathode business — with its first 200,000-ton line already generating operating profit — as a key new growth driver.

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