On the evening of October 16, GCL Technology Holdings Co., Ltd. announced that the supply of polysilicon products fell short of demand, benefiting from the expectation that the installed capacity in the photovoltaic industry exceeded the demand. From July 1 to September 30, the output of polycrystalline silicon was about 26100 metric tons (excluding the output of rod silicon of affiliated companies of the Group, which was about 16200 metric tons), of which the output of granular silicon was about 11700 metric tons, the output of rod silicon was about 14400 metric tons, and the output of silicon chips was about 11 gigawatts; The gross profit of granular silicon is about 205 yuan/kg (including the profit of by-product silicon powder), and that of rod silicon is about 151 yuan/kg. Gross profit of granular silicon products is about 54 yuan/kg higher than that of rod silicon products.



As of the end of the relevant period, the Group's annual production capacity of rod silicon is about 45000 metric tons (excluding the production capacity of rod silicon of the Group's associated companies, which is about 60000 metric tons), the annual production capacity of granular silicon is about 80000 metric tons, and the annual production capacity of silicon wafer is about 50 GW.



As of the issuing date of this announcement, the first module of the 100000 ton granular silicon project of Leshan GCL New Energy Technology Co., Ltd., a subsidiary of the company, has reached the production capacity of 20000 tons, and the output ratio of single crystal materials has exceeded 95%; The second module has been put into production smoothly, and is expected to reach the production capacity in the later part of this month.



From January 1 to September 30, the profit of the unaudited photovoltaic material business segment was about 12.7 billion yuan.



It was found that the performance of GCL Science and Technology grew significantly. In the third quarter, the Company's polysilicon output was about 26000 tons (excluding 16000 tons of rod silicon output of affiliated companies), about 14000 tons less than that in the first half of the year. However, in the third quarter, the company's photovoltaic material business realized a net profit of nearly 5.5 billion yuan. Excluding the influence of price, low-cost and efficient granular silicon has become the core force of GCL's scientific and technological achievements.

"Since the third quarter, Xuzhou has reached the production capacity of 60000 tons and Leshan has put 100000 tons into production. The company has continued to scale up the production of granular silicon. With the advantages of new areas and new devices, the production cost of granular silicon has continued to decrease and gross profit has reached a new high." Relevant person in charge of GCL Technology disclosed. According to the information previously released, GCL Technology's daily output of granular silicon has reached 251 tons, with the output reaching new highs.

It has been speculated that the performance of downstream silicon chip and component enterprises will shrink due to the rise of upstream silicon material prices. However, in fact, from the current point of view, due to the continuous growth of domestic and overseas photovoltaic market space, downstream photovoltaic enterprises still have considerable profit margins.

An analyst said: "Influenced by the European energy situation, there is a strong demand for overseas installed capacity. It is estimated that the global PV installed capacity will be 330GW to 340GW in 2023, and there is still room for growth. The rise of polysilicon price is mainly affected by the supply and demand relationship, and the strong downstream demand is the main factor driving up the silicon price. Therefore, there is still room to accept the upstream silicon price when the downstream terminal demand is strong."

According to the latest report of market research institute InfoLink, as some large factories have signed new orders before the holiday, as of the first week after the holiday, the main price of single crystal compact block remained at a range of 301 to 306 yuan per kg. This week is still dominated by order execution and delivery, and the price is still stable temporarily.