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<Research>Citi: GCL TECH (03800.HK) Chairman's Stake Reduction Has No Impact on Operations w/ TP $1.7, Rating Buy
Citi Research issued a research report believing that the reduction of the shareholding of Zhu Gongshan, Chairman of GCL TECH (03800.HK), to 18.59% has no direct impact on the Comp...
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<Research>Citi: GCL TECH (03800.HK) Chairman's Stake Reduction Has No Impact on Operations w/ TP $1.7, Rating Buy
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Citi Research issued a research report believing that the reduction of the shareholding of Zhu Gongshan, Chairman of GCL TECH (03800.HK)  -0.010 (-0.855%)    Short selling $63.71M; Ratio 9.832%   , to 18.59% has no direct impact on the Company's operations. However, the broker will continue to monitor the potential subsequent effects on GCL TECH's equity structure.

Based on the Company's cost advantage in polysilicon production, Citi Research remained optimistic about GCL TECH's operational outlook, and expected the Company to benefit from the 'anti-involutionary' supply side reform in China's photovoltaic industry.

Related NewsUBS Initiates Buy on GCL TECH (03800.HK) w/ TP $1.9
The broker believed that the current PB valuation is below historical average level, and anticipated a turning point in the Company's return on equity (ROE) in 2026. Therefore, Citi Research now rated GCL TECH at Buy, with a target price of $1.7.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.)

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