This announcement is made by GCL-Poly Energy Holdings Limited (the ‘‘Company’’) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’) and the Inside Information Provisions (as defined in the Listing Rules) under 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 and together with its subsidiaries (the “Group”) is pleased to announce that according to the preliminary statistics, the operating performance of the solar (polysilicon and wafer) and power businesses in the Peoples’ Republic of China (the “PRC”) of the Group for the first three quarters and the third quarter of 2013 were as follows:
1. Polysilicon Business
The Group’s polysilicon production volume for the first three quarters of 2013 was approximately 35,531 MT, representing an increase of approximately 8.1% compared with 32,864 MT over the same period of last year. For the third quarter of 2013, the Group produced approximately 13,550 MT, representing an increase of approximately 77.6 % compared with 7,631 MT over the same period of last year.
The Group sold approximately 12,490 MT of polysilicon for the first three quarters of 2013, representing an increase of approximately 29.2% compared with 9,669 MT over the same period of last year. For the third quarter of 2013, the Group sold approximately 4,018 MT, representing an increase of approximately 511.6% compared with 657 MT over the same period of last year.
The average selling price of polysilicon sold for the first three quarters of 2013 was US$17.0 per kg (first six months of 2013: US$17.0 per kg).
2. Wafer Business
The Group’s wafer production volume for the first three quarters of 2013 was approximately 5,998 MW, representing an increase of approximately 26.8% compared with 4,731 MW over the same period of last year. For the third quarter of 2013, the Group produced approximately 2,546 MW, representing an increase of approximately 50.7% compared with 1,689 MW over the same period of last year.
The Group sold approximately 6,363 MW of wafer for the first three quarters of 2013, representing an increase of approximately 47.4% compared with 4,316 MW over the same period of last year. For the third quarter of 2013, the Group sold approximately 2,505 MW, representing an increase of approximately 121.6% compared with 1,130 MT over the same period of last year.
The average selling price of wafer sold for the first three quarters of 2013 was US$0.21 per watt (first six months of 2013: US$0.20 per watt).
Solar Business Outlook
The demand of polysilicon and wafer was steady in the first half of 2013 and increased continuously in the 3rd quarter. The average selling price was stable during the 3rd quarter period. Currently our major customers are in steady production and maintain a high capacity utilization rate. As the Group’s products are of stable quality and conspicuous efficiency advantage resulting in global recognition, currently, our production supply cannot meet with market demand.
The Group will continue to use technology to lead the development in technology standard enhancement and product quality, in particular, the technology in silicon deposition and further production cost reduction. We will continue to launch higher efficiency and higher stability products, so as to dominate the high end market of the industry and lead the industry’s technology advancement.
3. Power Business in the PRC
The Group’s total electricity sales volume in the PRC for the first three quarters of 2013 was approximately 4,289,413 MWh (first three quarters of 2012: 4,072,171 MWh), representing an increase of approximately 5.3% compared with the same period of 2012. The total steam sales volume for the first three quarters of 2013 was approximately 6,448,244 tonnes (first three quarters of 2012: 6,118,130 tonnes), representing an increase of approximately 5.4% compared with the same period of 2012.
The information contained in this announcement represents a preliminary assessment based on the management accounts of the Group and such information has not been audited or reviewed by the Company’s auditors. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.
By order of the Board
GCL-Poly Energy Holdings Limited
Zhu Gongshan
Chairman
Hong Kong, 11 November 2013
