GCL-Poly Energy Holdings Limited has provided a guarantee of 14.1971 million yuan to its subsidiary, Wuhu GCL-Poly Integrated New Energy Technology Co., Ltd.. On May 23, 2025, GCL-Poly announced that it held board and shareholder meetings on April 27 and May 20, respectively, where they approved a proposal for the company to apply for a comprehensive credit line from financing institutions and provide guarantees for its subsidiaries.
The company and its subsidiaries intend to apply for a total credit limit not exceeding 11.2 billion yuan and a guarantee amount not exceeding 8.87 billion yuan for subsidiaries. In terms of the guarantee progress, GCL-Poly has signed a Guarantee Contract with Chongqing Jinxin Yu Financial Leasing Co., Ltd. to provide joint liability guarantees for a Financing Lease Contract signed between Wuhu GCL-Poly Integrated New Energy Technology Co., Ltd. and its creditor, with the principal amount of the leased property being 14.1971 million yuan.
This guarantee falls within the previously approved estimated guarantee amount and does not require further review. As of the announcement date, the total guarantee amount provided by the company and its controlling subsidiaries within the consolidated financial statements is 93 million yuan. Following this guarantee, the total external guarantees provided by the company and its controlling subsidiaries amount to 45.9672 million yuan, which represents 192.88% of the company’s most recent audited net assets.
Furthermore, GCL-Poly and its subsidiaries have not provided guarantees to entities outside the consolidated financial statements, and there are no overdue external guarantees or any litigation related to external guarantees that have resulted in losses due to adverse judgments.
According to data from Tianyancha, GCL-Poly was established on June 26, 2003, with a registered capital of 585.0316427 million yuan. The legal representative is Zhu Yufeng, and the registered address is in Jiang Hai Economic Park, Nankiao Town, Fengxian District, Shanghai. The company’s main business includes the research, design, production, sales, and one-stop service of high-efficiency battery modules, energy engineering, and integrated energy systems.
Currently, the chairman of the company is Zhu Yufeng, with Ma Junjian serving as the secretary of the board. The company employs 6,074 people, and the actual controller is Zhu Gongshan. GCL-Poly has stakes in 84 companies, including GCL Energy Technology Co., Ltd., Jurong Dongsheng Energy Technology Co., Ltd., Zhangjiagang GCL-Poly Integrated Technology Development Co., Ltd., Xuzhou GCL-Poly Semiconductor Innovation Development Co., Ltd., and Xuzhou Xinyu Photovoltaic Technology Co., Ltd.
In terms of performance, the company reported operating revenues of 8.354 billion yuan, 15.968 billion yuan, and 16.240 billion yuan for the years 2022, 2023, and 2024, respectively, with year-on-year growth rates of 77.68%, 91.15%, and 1.70%. The net profits attributable to shareholders were 59.318 million yuan, 158 million yuan, and 68.294 million yuan, with year-on-year growth rates of 102.99%, 142.24%, and -56.70%.
During the same period, the company’s debt-to-asset ratios were 77.84%, 87.32%, and 87.59%. Regarding risks, Tianyancha reports that the company has 6,655 risk records, 687 surrounding risk records, 1,545 historical risk records, and 267 warning risk records.
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