Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 1 experienced director. 8 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non-Executive Director Junfeng Li was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 30
GCL Technology Holdings Limited, Annual General Meeting, May 29, 2026 GCL Technology Holdings Limited, Annual General Meeting, May 29, 2026, at 10:00 China Standard Time. Location: multifunctional room, gcl energy center, no. 28 xinqing road, suzhou industrial park, jiangsu, suzhou, China Announcement • Mar 18
GCL Technology Holdings Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 GCL Technology Holdings Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Announcement • Nov 20
GCL Technology Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 5.445999 billion. GCL Technology Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 5.445999 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,014,782,000
Price\Range: HKD 1.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,014,783,000
Price\Range: HKD 1.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,353,043,000
Price\Range: HKD 1.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,353,043,000
Price\Range: HKD 1.15
Transaction Features: Subsequent Direct Listing Announcement • Sep 16
GCL Technology Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 5.445999 billion. GCL Technology Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 5.445999 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,029,565,000
Price\Range: HKD 1.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,706,086,000
Price\Range: HKD 1.15
Transaction Features: Subsequent Direct Listing Announcement • Aug 15
GCL Technology Holdings Limited to Report First Half, 2025 Results on Aug 29, 2025 GCL Technology Holdings Limited announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Apr 29
GCL Technology Holdings Limited, Annual General Meeting, May 30, 2025 GCL Technology Holdings Limited, Annual General Meeting, May 30, 2025, at 10:00 China Standard Time. Location: multifunctional room, gcl energy center, no. 28 xinqing road, suzhou industrial park, suzhou, jiangsu, China Announcement • Mar 18
GCL Technology Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 GCL Technology Holdings Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Recent Insider Transactions • Nov 04
Executive President recently sold €644k worth of stock On the 29th of October, Zhanjun Zhu sold around 3m shares on-market at roughly €0.19 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Zhanjun's only on-market trade for the last 12 months. Announcement • Oct 31
GCL Technology Holdings Limited Appoints Li Junfeng as an Independent Non-Executive Director, A Member of the Corporate Governance Committee, A Member of the Strategy & Investment Committee and A Member of the Environmental, Social and Governance Committee, Effective from 1 November 2024 GCL Technology Holdings Limited announced that Mr. Li Junfeng ("Mr. Li") will be appointed as an independent non-executive director, a member of the Corporate Governance Committee, a member of the Strategy & Investment Committee and a member of the Environmental, Social and Governance Committee of the Company with effect from 1 November 2024. Li Junfeng, aged 68, has been committed to the research of energy economics and the theory of energy and environment. From 1982 to 2011, Mr. Li successively served as an intern researcher, associate researcher, deputy researcher and researcher of the Energy Research Institute under the National Development and Reform Commission. From 2011 to 2017, Mr. Li served as the director of the National Center for Climate Change Strategy and International Cooperation. Since 2021, Mr. Li has served as a standing director of the China Energy Research Society. Mr. Li is currently also a doctoral supervisor of Renmin University of China, an investment partner of HongShan, the head of HongShan Carbon Neutrality Research Institute and the chairman of HongShan Envision Carbon Neutral Fund. Mr. Li won the Zayed Future Energy PrizeLifetime Achievement Award in 2017. Mr. Li graduated from the Shandong Institute of Mining and Technology in 1982 with a bachelor's degree in engineering. Announcement • Sep 25
Gcl Technology Holdings Limited Appoints Mr. Lan Tianshi as Member of Environmental, Social and Governance Committee The board of directors of GCL Technology Holdings Limited announced that Mr. Lan Tianshi, an executive director of the Company, has been appointed as a member of the Environmental, Social and Governance Committee of the Company with effect from 25 September 2024. New Risk • Sep 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 01
First half 2024 earnings released: CN¥0.056 loss per share (vs CN¥0.21 profit in 1H 2023) First half 2024 results: CN¥0.056 loss per share (down from CN¥0.21 profit in 1H 2023). Revenue: CN¥8.86b (down 58% from 1H 2023). Net loss: CN¥1.48b (down 127% from profit in 1H 2023). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Semiconductor industry in Germany. Announcement • Aug 20
GCL Technology Holdings Limited to Report First Half, 2024 Results on Aug 29, 2024 GCL Technology Holdings Limited announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Aug 17
GCL Technology Holdings Limited Provides Group Earnings Guidance for the Six Months Ended 30 June 2024 GCL Technology Holdings Limited provided group earnings guidance for the six months ended 30 June 2024. The company announced that for the six months ended 30 June 2024 (the first half of 2024), the loss attributable to the owners of the company is expected to be approximately RMB 1.45 billion, as compared to the unaudited profit attributable to the owners of the company of approximately RMB 5.52 billion in the corresponding period of 2023. Based on currently available information, the board believes that the reasons for the loss attributable to the owners of the company expected to record for the first half of 2024 was mainly attributable to: significant decrease in the average selling price of polysilicon and wafer products in the market for the first half of 2024 (compared that of the six months ended 30 June 2023); and inventories impairment as a result of the decrease in selling price of products. New Risk • May 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). High level of non-cash earnings (34% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (7.4% net profit margin). Announcement • May 01
GCL Technology Holdings Limited, Annual General Meeting, May 31, 2024 GCL Technology Holdings Limited, Annual General Meeting, May 31, 2024, at 10:00 China Standard Time. Location: Multifunctional Room, GCL Energy Center, No. 28 Xinqing Road, Suzhou Industrial Park, Suzhou Jiangsu Province China Agenda: To receive and consider the audited consolidated financial statements and the reports of the Directors and auditor ("Auditor") for the financial year ended 31 December 2023;To re-elect Mr. Zhu Gongshan as an executive director of the Company; To re-elect Mr. Lan Tianshi as an executive director of the Company; To re-elect Ir. Dr. Ho Chung Tai, Raymond as an independent non-executive director of the Company; To authorise the board (the "Board") of the directors to fix the remuneration of the directors; and to discuss other matters. Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: CN¥0.095 (vs CN¥0.61 in FY 2022) Full year 2023 results: EPS: CN¥0.095 (down from CN¥0.61 in FY 2022). Revenue: CN¥33.7b (down 6.2% from FY 2022). Net income: CN¥2.51b (down 85% from FY 2022). Profit margin: 7.4% (down from 46% in FY 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. New Risk • Mar 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.4% Last year net profit margin: 47% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (7.4% net profit margin). Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: CN¥0.095 (vs CN¥0.64 in FY 2022) Full year 2023 results: EPS: CN¥0.095 (down from CN¥0.64 in FY 2022). Revenue: CN¥33.7b (down 6.2% from FY 2022). Net income: CN¥2.51b (down 85% from FY 2022). Profit margin: 7.4% (down from 47% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Nov 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings are forecast to decline by an average of 28% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Sep 22
GCL Technology Holdings Limited Announces 100,000-Tonne Granular Silicon Project of Inner Mongolia Xinhuan Silicon Energy Technology Co., Ltd. Officially Put into Production The board of directors of GCL Technology Holdings Limited announced that the 100,000-tonne granular silicon project of Inner Mongolia Xinhuan Silicon Energy Technology Co. Ltd., an indirect subsidiary of the Company (the Hohhot Base), has been officially put into production on 21 September 2023, and the output quality fully meets the production needs of N-type products. Hohhot Base is the fourth granular silicon production base of the Company after Xuzhou base, Leshan base and Baotou base. The construction of the project was officially commenced on 21 November 2022, with a construction period of 10 months in total, setting the world's fastest record of the construction speed of 100,000-tonne polysilicon project. With the continuous improvement of granular silicon modularization system, it is expected that its effective production capacity will reach 120,000 tonnes after the Hohhot Base project reaches its full capacity, and the maximum effective production capacity of the existing bases will continue to increase. With the iteration of granular silicon production for 20,000-tonne module to 60,000-tonne module, the investment cost and production cost per unit of polysilicon will be further reduced, which will promote the cost reduction and efficiency improvement of the photovoltaic industry. Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the securities of the Company. New Risk • Sep 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 40% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 21% per year for the foreseeable future. High level of non-cash earnings (40% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.2% average weekly change). Reported Earnings • Aug 31
First half 2023 earnings released: EPS: CN¥0.21 (vs CN¥0.26 in 1H 2022) First half 2023 results: EPS: CN¥0.21 (down from CN¥0.26 in 1H 2022). Revenue: CN¥20.9b (up 37% from 1H 2022). Net income: CN¥5.52b (down 20% from 1H 2022). Profit margin: 26% (down from 45% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in Germany are expected to grow by 7.9%. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 80% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
GCL Technology Holdings Limited to Report First Half, 2023 Results on Aug 29, 2023 GCL Technology Holdings Limited announced that they will report first half, 2023 results on Aug 29, 2023 Buying Opportunity • Jul 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €0.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 12% per annum over the same time period. Upcoming Dividend • May 26
Upcoming dividend of HK$0.06 per share at 3.2% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 29 June 2023. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.1%). Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: CN¥0.61 (vs CN¥0.21 in FY 2021) Full year 2022 results: EPS: CN¥0.61 (up from CN¥0.21 in FY 2021). Revenue: CN¥35.9b (up 82% from FY 2021). Net income: CN¥16.4b (up 223% from FY 2021). Profit margin: 46% (up from 26% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 91% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be €0.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 44% in 2 years. Earnings is forecast to grow by 18% in the next 2 years. Announcement • Feb 20
GCL Technology Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2022 GCL Technology Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2022. The group expects to record a net profit attributable to the owners of the company of not less than RMB 15.5 billion for the year ended 31 December 2022, representing a year-on-year increase of not less than 204% as compared to the net profit attributable to the owners of the company of approximately RMB 5.1 billion for the year ended 31 December 2021. Buying Opportunity • Feb 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.6%. The fair value is estimated to be €0.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 44% in 2 years. Earnings is forecast to grow by 22% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Wenzhong Shen was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Sep 10
GCL Technology Holdings Announces Appointment of Zhu Yufeng as Vice Chairman The board of directors of GCL Technology Holdings announced that Mr. Zhu Yufeng, an executive Director and a member of the Remuneration Committee of the Company, has been appointed as a vice chairman of the Board with effect from 9 September 2022.Mr. Zhu Yufeng, aged 41, has been an executive Director of the Company since September 2009and is a member of the Remuneration Committee of the Company and a director of several subsidiaries of the Company. Mr. Zhu Yufeng joined a subsidiary of the Company in 2006 and is responsible for human resources, administration and project tender of the Company. Mr. Zhu Yufeng is currently the chairman of GCL System Integration Technology Co. Ltd., the chairman of GCL Energy Technology Co. Ltd. and the vice chairman of GCL New Energy Holdings Ltd. Mr. Zhu Yufeng is currently the committee secretary of CPC GCL Group Limited, vice chairman and president of Golden Concord Holdings Limited and a director of GCL Group Limited. Mr. Zhu Yufeng also serves as a member of the Standing Committee of All-China Youth Federation, the vice president of Chinese Young Entrepreneurs' Association, the vice chairman of China Electricity Council, the vice president of General Chamber of Commerce of Jiangsu Province, the president of Jiangsu Youth Chamber of Commerce and a member of the 14th and 15th committees of CPPCC in Suzhou City etc. In addition, Mr. Zhu Yufeng was honored as 2017 Top Ten Peopleof the Year for China New Energy (2017) Virtuous Leadership Award (2017) and 2021 China Energy Industry Leader (2021) . Mr. Zhu Yufeng graduated from George Brown College (Business Administration Faculty). Mr. Zhu Zhanjun, an executive Director of the Board, will remain as a vice chairman of the Board to assist Mr. Zhu Gongshan, the Chairman of the Board, in handling the affairs of the Board together with Mr. Zhu Yufeng. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: CN¥25.80 (vs CN¥0.099 in 1H 2021) First half 2022 results: EPS: CN¥25.80 (up from CN¥0.099 in 1H 2021). Revenue: CN¥15.3b (up 75% from 1H 2021). Net income: CN¥6.91b (up 187% from 1H 2021). Profit margin: 45% (up from 27% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 12% growth forecast for the Semiconductor industry in Germany. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has increased by 146% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 19
GCL Technology Holdings Limited Announces Resignation of Zheng Xiongjiu as an Executive Director The board of directors of GCL Technology Holdings Limited announced that Mr. Zheng Xiongjiu has resigned as an executive Director with effect from 18 August 2022, as he intends to focus and devote more time on his other work commitments outside of the Company and its subsidiaries. Announcement • Aug 18
GCL Technology Holdings Limited to Report First Half, 2022 Results on Aug 30, 2022 GCL Technology Holdings Limited announced that they will report first half, 2022 results on Aug 30, 2022 Announcement • Jul 29
GCL Technology Holdings Limited announced that it expects to receive HKD 313.95 million in funding GCL Technology Holdings Limited announced a private placement at best effort basis of up to 2,275,000,000 common shares at HKD 0.138 per share for gross proceeds of HKD 313.95 million on January 14, 2021. The company has signed a purchase agreement in the transaction. The company will incur issue expense in respect to the transaction for all related costs, fees, expenses and commission of HKD 3.95 million. Announcement • Jul 15
GCL Technology Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2022 GCL Technology Holdings Limited provided earnings guidance for the six months ended 30 June 2022. For the six months, the unaudited profit attributable to the owners of the Company during the Reporting Period was approximately RMB 6.9 billion (the unaudited profit attributable to the owners of the Company for the six months ended 30 June 2021 was approximately RMB 2.4 billion, representing a year-on-year increase of 187.5%); and the unaudited revenue of the Group during the Reporting Period was approximately RMB 15.4 billion (the unaudited revenue of the Group for the six months ended 30 June 2021 was approximately RMB8.8 billion, representing a year-on-year increase of 75.0%). Announcement • Jun 01
GCL Technology Holdings Limited Announces Resignation of Wong Man Chung as Independent Non-Executive Director, Member of the Audit Committee and Member of the Strategy and Investment Committee GCL Technology Holdings Limited announced that Mr. Wong Man Chung, Francis has tendered his resignation as an independent non-executive Director, and ceased to be a member of the audit committee and a member of the strategy and investment committee of the Company with effect from the conclusion of the annual general meeting of the Company held on 31 May 2022 in order to devote more time to his other work commitments. Announcement • May 27
GCL Technology Holdings Limited Announces Establishment of Environmental, Social and Governance Committee and Appointment of Committee Members The board of directors of GCL Technology Holdings Limited announced that an environmental, social and governance committee (the "ESG Committee") of the Company has been established with effect from 26 May 2022. Dr. Shen Wenzhong has been appointed as the chairman of the ESG Committee and Dr. Ho Chung Tai, Raymond, Mr. Yip Tai Him and Mr. Yeung Man Chung, Charles have been appointed as members of the ESG Committee, all effective from 26 May, 2022. Reported Earnings • Apr 28
Full year 2021 earnings released: EPS: CN¥0.21 (vs CN¥0.28 loss in FY 2020) Full year 2021 results: EPS: CN¥0.21 (up from CN¥0.28 loss in FY 2020). Revenue: CN¥19.7b (up 34% from FY 2020). Net income: CN¥5.08b (up CN¥10.8b from FY 2020). Profit margin: 26% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 4 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non-Executive Director Francis Wong was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: CN¥0.21 (vs CN¥0.28 loss in FY 2020) Full year 2021 results: EPS: CN¥0.21 (up from CN¥0.28 loss in FY 2020). Revenue: CN¥19.7b (up 35% from FY 2020). Net income: CN¥5.08b (up CN¥10.8b from FY 2020). Profit margin: 26% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 2.5%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 24
GCL-Poly Energy Holdings Limited Provides Group Earnings Forecast for the Year Ended 31 December 2021 GCL-Poly Energy Holdings Limited provided group earnings forecast for the year ended 31 December 2021. The Group expects to record a net profit attributable to the owners of the Company of approximately RMB 5 billion for the year ended 31 December 2021 as compared to a net loss attributable to the owners of the Company of approximately RMB 5.7 billion for the corresponding period in 2020. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The 3 analysts covering GCL-Poly Energy Holdings previously expected the company to break even in 2021. New consensus forecast suggests the company will make a profit of CN¥6.06b in 2022. Average annual earnings growth of 31% is required to achieve expected profit on schedule. Reported Earnings • Nov 09
First half 2021 earnings released: EPS CN¥0.099 (vs CN¥0.10 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥8.78b (up 22% from 1H 2020). Net income: CN¥2.41b (up CN¥4.40b from 1H 2020). Profit margin: 27% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 145 percentage points per year, which is a significant difference in performance. Breakeven Date Change • Nov 02
Forecast to breakeven in 2021 The analyst covering GCL-Poly Energy Holdings expects the company to break even for the first time. New forecast suggests the company will make a profit of CN¥5.54b in 2021. Earnings growth of 42% is required to achieve expected profit on schedule. Board Change • Nov 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 3 highly experienced directors. Executive Director Wei Sun was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. 
