On February 21, GCL-Poly Energy Holdings Limited announced a proposal from its Board of Directors, according to which the company is to change its name from "GCL-Poly Energy Holdings Limited " to "GCL Technology Holdings Limited ", in accordance with its future strategic focus on silicon materials technology and technology innovation. 

According to Zhu Gongshan, Chairman of GCL-Poly's Board of Directors, GCL has adjusted its strategies at the end of last year to pivot around "technology GCL, digital GCL, and green GCL", a long-term goal formulated as GCL's "14th Five-Year Plan" and beyond. 

The Board of Directors believes that the new name should present a brand-new corporate image and better indicate the company's strong R&D strength and future development direction, more in line with the overall best interests of the company and its goal toward greener, more sustainable and higher-quality growth.

The announcement also publicly states and promises that the change of the company name shall not affect any rights of its shareholders or the company's daily operations or its financial status; all issued shares bearing the company's existing name shall continue to be legal proof of titles and valid for sales, settlements, registrations and deliveries.

The renaming is introduced as a necessary adaptation toward GCL’s determination to sustain on silicon materials and on technology as its first and primary driving force.  Ever since its setup 16 years ago, the company has been focusing on technological innovations and laying a solid foundation for research and development. GCL cold hydrogenation and rod-shaped silicon processing and its FBR granular silicon manufacturing are self-innovated and self-developed achievements. Solar silicon materials aside, GCL-Poly Energy has also made major breakthroughs in electronic-grade polysilicon, large-scale perovskite and other fields, filling domestic gaps in China. GCL-Poly’s nine subsidiaries including Jiangsu Zhongneng, GCL Silicon Materials, GCL Ningxia, GCL Suzhou, and GCL Henan etc. are all listed as China’s "National High-tech Enterprises".