Understanding the Market | GCL TECH rose over 7% during the session, recently completing the issuance of 1.015 billion shares according to the subscription agreement and placement agreement

GCL TECH rose over 7% during the session, and as of the time of writing, it is up 7.2%, trading at HKD 1.34, with a transaction volume of HKD 289 million. In terms of news, GCL TECH announced that on October 10, 2025, it will complete the issuance of the first batch of subscription shares totaling 1.015 billion shares, according to the subscription agreement dated September 16, 2025 (revised on September 25, 2025) and the placement agreement dated September 16, 2025. The announcement stated that the company plans to use part of the proceeds for mergers and acquisitions to acquire target companies and/or assets in mainland China to increase polysilicon production capacity. As of the date of this announcement, the company has not engaged in discussions with any specific acquisition target or identified any relevant target companies. The company will continue to seek suitable targets in the market and will disclose information in accordance with listing rules at the appropriate time