May 20, 2018 4:38 PM ET

Semiconductors and Semiconductor Equipment

Company Overview of GCL-Poly (Suzhou) New Energy Co., Ltd.

Company Overview

GCL-Poly (Suzhou) New Energy Co., Ltd. is a holding company. The company, through its subsidiaries, provides solar wafer production. The company is based in China. GCL-Poly (Suzhou) New Energy Co., Ltd. operates as a subsidiary of GCL-Poly Energy Holdings Ltd.

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China

Key Executives for GCL-Poly (Suzhou) New Energy Co., Ltd.

GCL-Poly (Suzhou) New Energy Co., Ltd. does not have any Key Executives recorded.

GCL-Poly (Suzhou) New Energy Co., Ltd. Key Developments

GCL-Poly Suzhou Enters in to Framework Agreement with GCL System Integration and GCL System Integration (Suzhou)

GCL-Poly Suzhou has agreed to supply and the GCL System Integration Entities have agreed to purchase the Wafer Products, being multicrystalline and monocrystalline wafers, during the Term. The Framework Agreement serves as a framework agreement between the parties pursuant to which delivery notice for the Wafer Products containing quantity, price and specification may be agreed between GCL-Poly Suzhou and the GCL System Integration Entities during the term. In the event of any conflict between the terms of the Framework Agreement and any delivery notice, the terms of the Framework Agreement shall prevail. Under the Framework Agreement, and subject to the Annual Cap, the estimated total quantity of the Wafer Products to be supplied by GCL-Poly Suzhou during the Term is 650,000,000 pieces. The actual volume of the Wafer Products to be supplied by GCL-Poly Suzhou from time to time shall be determined by both parties based on the delivery notices agreed between GCL-Poly Suzhou and the GCL System Integration Entities, subject to the following: (i) the maximum monthly purchase quantity shall be 115% of 54,166,000 pieces; (ii) the maximum total purchase quantity during the Term shall be 115% of the Estimated Purchase Quantity; and (iii) the minimum total purchase quantity during the Term shall be 85% of the Estimated Purchase Quantity.

GCL-Poly Suzhou Enters into Framework Agreement with GCL System Integration Entities in Relation to Supply of Wafer Products

The Board of GCL-Poly Suzhou announced that on 21 November 2017 the company, and the GCL System Integration Entities entered into the Framework Agreement, pursuant to which the company agreed to supply through itself or its affiliates the Wafer Products to the GCL System Integration Entities (or their subsidiaries). The term of the Framework Agreement is for the period of one year commencing from 1 January 2018 and ending on 31 December 2018.

GCL-Poly (Suzhou) New Energy Co., Limited Announces Unaudited Consolidated and Company Earnings Results for the Nine Months Ended September 30, 2017

GCL-Poly (Suzhou) New Energy Co., Limited announced unaudited consolidated and company earnings results for the nine months ended September 30, 2017. For the period, the company reported operating income of RMB 13,859,515,308.14 compared to RMB 14,372,366,652.11 a year ago. Operating profit was RMB 1,186,269,492.08 compared to RMB 2,124,752,164.81 a year ago. Net profit attributable to owners of the parent company was RMB 587,526,846.96 compared to RMB 965,089,287.77 a year ago. Net cash flows from operating activities were RMB 624,567,639.39 compared to RMB 1,252,234,699.90 a year ago. Cash paid for purchase and construction of fixed assets, intangible assets and long-term assets was RMB 536,612,377.26 compared to RMB 467,743,091.00 a year ago. For the period, on company basis, the company reported operating income of RMB 7,574,858,650.68 compared to RMB 8,056,105,329.09 a year ago. Operating profit was RMB 1,534,338,301.60 compared to RMB 1,046,828,342.25 a year ago. Net profit was RMB 1,535,505,334.29 compared to RMB 1,047,091,817.87 a year ago. Net cash inflows from operating activities were RMB 227,067,324.96 compared to net cash outflow from operating activities of RMB 626,546,180.45 a year ago. Cash paid for purchase and construction of fixed assets, intangible assets and long-term assets was RMB 2,952,966.25.

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