GCL Suzhou signs deal for silicon material with Zhongneng Silicon

On August 7, GCL Technology (Suzhou) Co., Ltd., a wholly-owned subsidiary of GCL SI, signed a framework agreement with Jiangsu Zhongneng Silicon Industry Technology Development Co., Ltd. to purchase silicon material, which is YAS recycled material refined from purified silicon powder, with an estimated volume of 11,250 tonnes and a total contract value up to RMB450 million (USD62.65 million) (tax included). Prices will be negotiated monthly based on market conditions, according to the agreement.