Home Quarter Results GCL-Poly Energy Holdings Limited :Business Performance for Third Quarter of 2015

GCL-Poly Energy Holdings Limited :Business Performance for Third Quarter of 2015

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This announcement is made by GCL-Poly Energy Holdings Limited (the ‘‘Company’’) pursuant to Rule 13.09(2)(b) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’) and Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). The board of directors (the “Board”) of the Company is pleased to announce that according to the preliminary statistics of the Company and its subsidiaries (collectively the “Group”), the operating performance of the solar (polysilicon and wafer) and power businesses in the Peoples’ Republic of China of the Group for the first three quarters and the third quarter of 2015 were as follows:

1. Polysilicon Business
The Group’s polysilicon production volume for the first three quarters of 2015 was approximately 55,771 MT, representing an increase of approximately 12.5% compared with 49,582 MT over the same period of last year. For the third quarter of 2015, the Group produced approximately 19,003 MT, representing an increase of approximately 10.2% compared with 17,241 MT over the same period of last year. The Group sold approximately 11,658 MT of polysilicon for the first three quarters of 2015, representing an increase of approximately 5.2% compared with 11,077 MT
over the same period of last year. For the third quarter of 2015, the Group sold approximately 4,653 MT, representing an increase of approximately 28.7% compared with 3,614 MT over the same period of last year. The average selling price of polysilicon sold for the first three quarters of 2015 was
US$16.3 per kg (first six months of 2015: US$17.2 per kg).

2. Wafer Business The Group’s wafer production volume for the first three quarters of 2015 was approximately 10,928 MW, representing an increase of approximately 14.0% compared with 9,584 MW over the same period of last year. For the third quarter of 2015, the Group produced approximately 3,826 MW, representing an increase of approximately 3.9% compared with 3,681 MW over the same period of last year. The Group sold approximately 11,083 MW of wafer for the first three quarters of 2015, representing an increase of approximately 18.0% compared with 9,396 MW over the same period of last year. For the third quarter of 2015, the Group sold approximately 4,022 MW, representing an increase of approximately 11.1% compared with 3,620 MT over the same period of last year.

The average selling price of wafer sold for the first three quarters of 2015 was US$0.189 per watt (first six months of 2015: US$0.195 per watt). Solar Business Review During the third quarter of the year, the demand of wafer continued to remain strong following the rising demand of photovoltaic products in the first half of 2015. During the third quarter of 2015, the production and sale of wafer and polysilicon of the Company were achieved full capacity and full consumption. The average selling price of wafer was up during the third quarter while the average selling price of polysilicon became stable after declining from the mid of last year. “GCL Multi-Wafer S4”, the 4th generation of high efficiency multi-crystalline silicon wafer launched in 2015, and other high efficiency products of the Company have been well-received by our customers and demand over supply was occasionally occurred. We will continue to uphold our leading position in the technology area and focus on the technological innovation, cost control and maintaining the product quality and efficiency. 3. Non-Solar Business in the PRC The Group’s total electricity sales volume in the PRC for the first three quarters of 2015 was approximately 4,953,802 MWh (first three quarters of 2014: 4,342,593 MWh), representing an increase of approximately 14.1% compared with the same period of 2014. The total steam sales volume for the first three quarters of 2015 was approximately 6,280,760 tonnes (first three quarters of 2014: 6,310,747 tonnes),representing a decrease of approximately 0.5% compared with the same period of 2014.

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Anand Gupta Editor - EQ Int'l Media Network

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