Changes in Hong Kong stocks | GCL Technology (03800) rose more than 5% at the end of the session. GCL's 400,000-ton lithium iron phosphate project starts construction to transform a global multi-product new energy materials platform

The Zhitong Finance App learned that GCL Technology (03800) rose more than 5% at the end of the session. As of press release, it rose 4.93% to HK$0.745, with a turnover of HK$115 million.

According to news, on September 28, the Xuzhou Xinrui Lithium Battery 400,000-ton lithium iron phosphate project officially started in the Xuzhou Economic Development Zone. It is only 24 days until the September 4 energy saving report was approved by the government. The total investment of the project is 4 billion yuan. After completion, it can form a production capacity of 400,000 tons of lithium battery cathode materials per year. The project started this time is another major layout for GCL Group to cultivate new engines on the new energy circuit.

According to public information, in May of this year, GCL Technology released the “Overall Strategic Transformation Plan”, announcing that the company will transform from a “single champion in granular silicon” to a “global multi-product new energy materials platform”, expand from a single-particle silicon business to a “silicon-based+lithium-based” industrial ecosystem, and further expand into the field of cutting-edge materials for new energy sources. Among them, lithium iron phosphate will be the core growth engine of GCL Technology.