GCL-Poly Energy Holdings Limited (“GCL-Poly”, “the Group”, stock code: 3800.HK) announce that it has developed a new type of wafer “GCL Quasi-Mono Wafer”, which contributes to a part of its technologically innovative blue ocean strategy. This wafer has already been utilised by Canadian Solar, our strategic cooperation partner, in the manufacturing of the “GCL-CSI” co-brand high efficiency 265W solar modules. The new wafer is highly efficient and cost-effective, which may change the structure of the current global wafer market.

It is understood that the conversion efficiency of “GCL Quasi-Mono Wafer” is close to that of the traditional monocrystalline wafer which undergoes the pulling process. The highest detected conversion efficiency is 18.5%. Meanwhile the degradation rate of “GCL Quasi-Mono Wafer” is lower than that of the traditional monocrystalline wafer by 1% on average. Another notable feature of “GCL Quasi-Mono Wafer” is its low cost. Its production cost is much lower than that of the traditional monocrystalline wafer, and is comparable with that of the directionally solidified multi-ingot. If the highly efficient cell and modules use the high-quality, low-cost “GCL Quasi-Mono Wafer”, the solar energy generation cost can be reduced by more than 10%, substantially improving the competitiveness of the modules.

At present, the production capacity of “GCL Quasi-Mono Wafer” has reached 20 million pieces per month. GCL-Poly has signed supply agreements of more than 30 million pieces per month with Canadian Solar and other downstream customers. It is expected that the production capacity will exceed 100 million pieces per month by the end of this year.

Mr. Gongshan Zhu, Chairman of the Board of Directors of GCL-Poly, said: “Technological innovation is the source of life power to the sustainable development of an enterprise. Adhering to this philosophy, GCL-Poly is committed to enhancing its internal research and development capability and achieving the growth in profitability in the future by exploring the state-of-the-art technology of solar power. The promotion of “GCL-ASCS-880” advanced ingot furnace system and “GCL Quasi-Mono Wafer” is the first strategic move of GCL technical team in technology innovation. GCL-Poly will continuously develop new series of products and devote itself to realise the high ideals of “Bring Green Power To Life” ultimately.

Some analysts believe that while the PV industry continues further development, the contribution of technological innovation and branding effect to the industrial development will become more and more important. The promotion of “GCL-ASCS-880” advanced ingot furnace system and “GCL Quasi-Mono Wafer” will solidify the leading position of GCL-Poly in the industry, and give a strong impetus to achieve grid parity of solar energy, accelerating the pace of bringing green power to human life.