The board of directors of GCL Technology Holdings Limited announced that the 100,000-tonne granular silicon project of Inner Mongolia Xinhuan Silicon Energy Technology Co. Ltd., an indirect subsidiary of the Company (the Hohhot Base), has been officially put into production on 21 September 2023, and the output quality fully meets the production needs of N-type products. Hohhot Base is the fourth granular silicon production base of the Company after Xuzhou base, Leshan base and Baotou base.

The construction of the project was officially commenced on 21 November 2022, with a construction period of 10 months in total, setting the world's fastest record of the construction speed of 100,000-tonne polysilicon project. With the continuous improvement of granular silicon modularization system, it is expected that its effective production capacity will reach 120,000 tonnes after the Hohhot Base project reaches its full capacity, and the maximum effective production capacity of the existing bases will continue to increase. With the iteration of granular silicon production for 20,000-tonne module to 60,000-tonne module, the investment cost and production cost per unit of polysilicon will be further reduced, which will promote the cost reduction and efficiency improvement of the photovoltaic industry.

Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the securities of the Company.