GCL Technology Holdings Limited (“GCL TECH”) has disclosed two new agreements effective from 6 March 2026 to 31 December 2026. Both deals involve continuing connected transactions, with a maximum transaction cap of RMB300.00 million for wafers (“2026 Wafer Sale Agreement”) and RMB300.00 million for silicon material products (“2026 Silicon Material Products Sale Agreement”).
Under the 2026 Wafer Sale Agreement, GCL TECH’s indirect subsidiary (GCL Technology Suzhou) will sell wafers to GCL System Integration. Historical sales of wafers between these parties stood at RMB783.19 million in 2023, RMB275.88 million in 2024, RMB94.10 million in 2025, and RMB0.04 million for 1 January 2026 to 5 March 2026.
The 2026 Silicon Material Products Sale Agreement follows the expiry of earlier arrangements, allowing GCL TECH’s subsidiary (Jiangsu Zhongneng) to sell silicon material products to GCL System Integration (Suzhou). No actual transactions were recorded under prior agreements for silicon material products.
According to GCL TECH, the pricing of these products refers to comparable market levels, and the agreements are expected to support stable business operations and ensure normal commercial terms. The company confirms these transactions fall under continuing connected transactions per Chapter 14A of the Listing Rules. Since the highest applicable percentage ratios are below 5%, they only require reporting and announcement, without necessitating independent shareholders’ approval. The interested directors have abstained from voting, and the board deems the transaction terms fair and reasonable within the ordinary course of business.
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