GCL Technology (03800) plans to establish a limited partnership to acquire 42.469% of Inner Mongolia Xinyuan Silicon Material Technology

Zhitong Finance App News, GCL Technology (03800) announced that on December 8, 2025, GCL Suzhou, GCL Xuzhou, Cinda, Xinsheng and Anyi signed a partnership agreement to establish a limited partnership to acquire 42.469% of the target company (Inner Mongolia Xinyuan Silicon Material Technology Co., Ltd.), so that the target company will continue to be a non-wholly-owned subsidiary of the company after the acquisition.

According to the partnership agreement, the size of the limited partnership will be RMB 2,064 billion, of which limited partners GCL Suzhou and Cinda will pledge RMB760 million and RMB 1.3 billion respectively, while general partners Xinsheng (as general partner 1), An Yi (as general partner 2) and GCL Xuzhou (as general partner 3) will each pledge investments of RMB 1 million, RMB 1.5 million and RMB 1.5 million. The company will indirectly own 36.895% of the investment amount of the limited partnership through GCL Suzhou and GCL Xuzhou.

After the establishment of the limited partnership, the limited partnership will each enter into a sales agreement with Hongyuan Green Energy and Tibet Ruihua to carry out the acquisition, at a total cost of RMB 2,010 billion. As a result of the formation of the limited partnership and the acquisition, the relevant contracting parties entered into a series of other agreements.

The target company is a limited company established in China in 2021, mainly engaged in R&D, manufacturing and sales of granular silicon, as well as related supporting new energy businesses. As of the date of this announcement, the Company held 57.531% of the total shares of the target company through a subsidiary company, and the target company is a non-wholly-owned subsidiary of the Company. According to the concerted actors agreement and cooperation agreement, the target company will continue to be a non-wholly-owned subsidiary of the company after the acquisition is completed. The financial results of the target companies will continue to be consolidated into the Group's consolidated financial statements. The establishment of limited partnerships and acquisitions are in line with the Group's development strategy and bring good investment opportunities to the Group, thereby seeking capital appreciation for the Group.