GCL-Poly
| Company type | Subsidiary |
|---|---|
| Industry | Renewable energy, Solar energy |
| Founded | 1996 |
| Headquarters | China |
| Products | Polysilicon, electronic wafers for solar sector |
| Parent | Golden Concord Group Limited (GCL) |
GCL-Poly, established in 1996, operates as a subsidiary of Golden Concord Group Limited (GCL), a prominent Chinese provider of green energy solutions that generate electricity and heat through cogeneration, incineration, and wind power. By 2009, it had become China's foremost supplier of polysilicon and also produced electronic wafers for the solar sector.
History
In 2007, GCL-Poly became publicly traded on the Hong Kong Stock Exchange, securing up to 1.181 billion yuan through an initial public offering priced between HK$3.3 and HK$4.1 per share.
China Investment Corporation (CIC) purchased a minority stake valued at HK$5.5 billion (approximately $710 million) in GCL-Poly in November 2009.
On February 14, 2014, the company issued 360 million new shares to Rosenthal Group at ¥4 each, representing a discount of 70.37%, which generated ¥1.44 billion in capital. Following this transaction, GCL maintained a 67.99% ownership interest.
In November 2014, GCL-Poly intended to divest roughly half of its silicon wafer manufacturing business for ¥10.1 billion to Zhu Gong Shan and affiliated investors, aiming to concentrate on upstream polysilicon production; however, this agreement was terminated in December 2014.
GCL-Poly expanded its material assets by acquiring $150 million worth of silicon-related holdings from SunEdison in August 2016.
By April 2017, the company had invested in excess of $832 million to develop a polysilicon facility with an annual capacity of 60,000 tons within China.
In April 2020, GCL-Poly entered into a strategic collaboration with Hypersolar Inc.
References