On July 24, GCL TECH fell 6.35% in regular trading, trading at HKD 0.59 per share, with turnover of approximately HKD 55.73 million.
On the news front, despite a recent reiterated Buy rating from a brokerage highlighting new national energy-consumption standards as favorable to the company, the polysilicon spot market remains persistently weak. Industry data shows N-type recharge material average prices have fallen to RMB 32,500 per tonne, marking the seventh consecutive weekly decline. GCL granular silicon average transaction price stands at RMB 31,700 per tonne, down 0.94% week-over-week. The polysilicon market is currently characterized by high inventory, elevated supply, and subdued demand, with prices expected to remain under pressure in the near term.
Notably, the company has maintained aggressive share buybacks throughout July, repurchasing shares on nearly every trading day with cumulative buybacks exceeding 1.049 billion shares year-to-date. Executive directors have also conducted personal purchases totaling up to HKD 100 million, signaling management confidence in long-term value despite ongoing fundamental headwinds.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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