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<Research>Citi Expects GCL TECH (03800.HK) to Benefit from Polysilicon Price Hike Amid Sector Output Consolidation
China's polysilicon industry is promoting anti-involution. Beijing Guanghe Qiancheng Technology Co., Ltd. was recently officially registered, viewed externally as a platform fo...
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<Research>Citi Expects GCL TECH (03800.HK) to Benefit from Polysilicon Price Hike Amid Sector Output Consolidation
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China's polysilicon industry is promoting anti-involution. Beijing Guanghe Qiancheng Technology Co., Ltd. was recently officially registered, viewed externally as a platform for polysilicon output consolidation and acquisition. GCL TECH (03800.HK)  -0.010 (-1.111%)    Short selling $27.17M; Ratio 13.760%   holds approx. 16.79% stake in the joint venture, making it the second-largest shareholder, Citi Research issued a research report saying.

However, Citi Research still believed that, if production capacity is successfully consolidated, polysilicon prices are expected to rise, and GCL TECH could benefit from margin expansion, with earnings growth achievable even at a 50% capacity utilization rate.

Related News Citi Cuts GCL TECH (03800.HK) TP to HKD1.3, Expects Full-Year Loss
Therefore, the broker rated GCL TECH at Buy/ High Risk, with a target price of $1.72.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.)

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