Gelonghui, April 3, 丨 GCL Technology (03800.HK) announced that Jiangsu Zhongneng Silicon Technology Development Co., Ltd., an indirect wholly-owned subsidiary of the company, recently signed a long-term procurement contract with Longji Green Energy Technology Co., Ltd. (stock code: 601012) as the buyer to purchase polysilicon materials (granular silicon).
According to the procurement contract, by the end of 2026, Jiangsu Zhongneng and/or its affiliates agreed to sell, while Longji Green Energy and/or its affiliates agreed to purchase a total of about 425,000 tons of polysilicon material (granular silicon).
Specifically, (i) a total of about 125,000 tons of polysilicon material (granular silicon) will be purchased during 2024; (ii) a total of about 150,000 tons of polysilicon material (granular silicon) will be purchased during 2025; and (iii) a total of about 150,000 tons of polysilicon material (granular silicon) will be purchased during 2026. The actual purchase volume allows a fluctuation of 10% (as determined by Longji Green Energy). LONGi Green Energy and/or its affiliates will place monthly orders for the purchase of polysilicon materials (granular silicon) according to their respective needs, and the price of such orders will be negotiated between the seller and the buyer in accordance with current market conditions.
The board of directors believes that the procurement contract will help promote stable sales of polysilicon and granular silicon products in the company's daily business, promote the widespread application of products and the rapid increase in market rate, and be in line with the Group's development strategy, and can further enhance the Group's position in the new energy industry.