GCL-Poly Energy Holdings (3800) AI Stock Analysis

• Market Cap: $36.17B
• Dividend Yield: N/A
• Average Volume (3M): 454.69M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: -56.32%
• EPS Growth: -272.70%
• Country: HK
• Employees: 9,305
• Sector: Technology
• Sector Strength: 90
• Industry: Solar
• EPS (TTM): -0.13
• Shares Outstanding: 28,480,818,000
• 10 Day Avg. Volume: 946,583,531
• 30 Day Avg. Volume: 454,687,603
• PEG Ratio: -0.39
• Price to Book (P/B): 0.22
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $1.02
• Price Target Upside: -17.04% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 48 Neutral
• Price Target: HK$1.00 ▼(-18.70%Downside)

The stock's overall score is primarily impacted by significant financial challenges, including declining revenues and profitability, and negative cash flow. While technical analysis shows some short-term positive momentum, the overbought signals suggest caution. The valuation is unfavorable due to a negative P/E ratio and lack of dividends, further weighing down the overall score.

Positive Factors

Production Efficiency

GCL Technology leads in polysilicon production using the fluidised bed reactor process, which consumes significantly less electricity, enabling lower production costs.

Profitability

The company has improved its production processes, leading to a reduction in cash production costs, enhancing profitability.

Negative Factors

Industry Outlook

The downward pressure on average selling prices is greater than expected amid industry glut, affecting the share price performance.

Market Competition

Fluctuations in polysilicon prices, stiffening competition, technology disruptions, power supply disruptions, and trade friction are potential negative factors affecting earnings.

GCL-Poly Energy Holdings Business Overview & Revenue Model

Company Description

GCL Technology Holdings Limited manufactures and sells polysilicon and wafers products in the People's Republic of China and internationally. It operates through three segments: Solar Material Business, Solar Farm Business, and New Energy Business. The Solar Material Business segment primarily manufactures and sells polysilicon and wafer products to companies operating in the solar industry. The Solar Farm Business segment operates and manages 18 MW solar farms located in the United States and 150 MW solar farms situated in South Africa; and 5 solar farms in the People's Republic of China. The New Energy Business segment develops, constructs, operates, and manages solar farms. The company was formerly known as GCL-Poly Energy Holdings Limited and changed its name to GCL Technology Holdings Limited in April 2022. GCL Technology Holdings Limited was incorporated in 2006 and is based in Kowloon, Hong Kong.

How the Company Makes Money

GCL-Poly Energy Holdings generates revenue through several key streams. The primary source of income is the manufacturing and sale of polysilicon and silicon wafers to solar product manufacturers. These materials are essential components in the production of photovoltaic cells, which are used in solar panels. The company benefits from economies of scale and technological expertise, allowing it to maintain competitive pricing. In addition to its manufacturing operations, GCL-Poly also earns revenue from its solar energy projects. By developing and operating solar farms, the company sells generated electricity to grid operators and other energy stakeholders, providing a steady stream of income. Moreover, strategic partnerships and joint ventures in the renewable energy space further bolster its financial performance by expanding its market reach and operational capabilities.

GCL-Poly Energy Holdings Financial Statement Overview

Summary

The company is experiencing severe financial distress. The income statement shows declining revenue and negative margins, indicating significant operational challenges. The balance sheet highlights issues with profitability and a low equity ratio, while cash flow problems are exacerbated by negative free cash flow and zero growth.

Income Statement

The company's income statement indicates significant challenges, with a noticeable decline in revenue from 2023 to 2024. Gross profit margins have turned negative, and net income has decreased substantially. EBIT and EBITDA margins have also turned negative, indicating operational difficulties. The revenue growth rate shows a steep decline, reflecting poor market conditions or strategic issues.

Balance Sheet

The balance sheet reveals a moderate level of financial stability. The debt-to-equity ratio has improved from previous years, suggesting better leverage management. However, the equity ratio remains relatively low, indicating potential risk. Return on equity has significantly declined due to the negative net income, raising concerns about profitability.

Cash Flow

Cash flow analysis highlights significant concerns. The operating cash flow has decreased, and free cash flow remains negative. The lack of free cash flow growth is alarming, and the cash flow to net income ratios are uncalculable due to zero values in 2024, highlighting cash management issues.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.10B	33.70B	35.93B	19.70B	14.62B
Gross Profit	-2.51B	11.69B	17.50B	7.35B	3.70B
EBITDA	-2.73B	8.07B	20.74B	8.46B	6.13B
Net Income	-4.75B	2.51B	16.03B	5.08B	-6.27B
Balance Sheet
Total Assets	74.87B	82.77B	85.56B	64.10B	80.50B
Cash, Cash Equivalents and Short-Term Investments	7.00B	8.52B	6.89B	7.13B	2.51B
Total Debt	19.10B	15.50B	13.45B	12.60B	42.40B
Total Liabilities	32.58B	34.45B	40.01B	31.80B	60.11B
Stockholders Equity	37.18B	42.59B	42.68B	29.03B	16.59B
Cash Flow
Free Cash Flow	-7.53B	-16.07B	-8.06B	-4.10B	-568.91M
Operating Cash Flow	-3.30B	-3.85B	7.87B	1.88B	1.59B
Investing Cash Flow	-6.04B	-10.91B	-16.55B	742.87M	2.74B
Financing Cash Flow	7.69B	14.96B	8.40B	2.42B	-4.16B

GCL-Poly Energy Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3800, the sentiment is Positive. The current price of 1.23 is above the 20-day moving average (MA) of 1.00, above the 50-day MA of 0.90, and above the 200-day MA of 1.13, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 74.36 is Negative, neither overbought nor oversold. The STOCH value of 88.90 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3800.

GCL-Poly Energy Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$33.92B	6.00	-11.84%	1.85%	5.31%	-18.34%
3800	48 Neutral	$36.17B	―	-11.91%	―	-56.32%	-272.70%
CSSXF		$93.14M	―	-1.29%	―	―	―
SEHLF		$41.07M	―	-21.37%	―	―	―
XNYIF		$3.40B	21.04	3.28%	16.94%	―	―
1799	41 Neutral	HK$9.60B	―	-11.29%	―	-32.63%	-185.82%
0438	32 Underperform	HK$410.83M	―	-22.96%	―	2.57%	-58.71%

GCL-Poly Energy Holdings Corporate Events

GCL Technology Announces Temporary Website Change to Enhance Domestic Access

GCL Technology Holdings Limited announced a temporary change to its company website, which will be unavailable starting from July 12, 2025. This change is due to the transfer of the domain name to a PRC domestic platform and server reconfiguration to improve access for domestic users. A temporary website will be available during this transition, and the company will inform the public once the main website is operational again.

The most recent analyst rating on (HK:3800) stock is a Hold with a HK$1.20 price target. To see the full list of analyst forecasts on GCL-Poly Energy Holdings stock, see the HK:3800 Stock Forecast page.

GCL Technology Enhances Governance with New Nomination Committee

GCL Technology Holdings Limited has announced the establishment of a Nomination Committee to oversee director nominations, succession planning, and board composition. This move is aimed at enhancing corporate governance and ensuring compliance with the Hong Kong Stock Exchange’s listing rules, potentially improving the company’s operational efficiency and stakeholder confidence.

The most recent analyst rating on (HK:3800) stock is a Hold with a HK$1.20 price target. To see the full list of analyst forecasts on GCL-Poly Energy Holdings stock, see the HK:3800 Stock Forecast page.

GCL Technology Strengthens Governance with New Nomination Committee Appointments

GCL Technology Holdings Limited, a company incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange, has announced the appointment of Ms. Sun Wei and Mr. Li Junfeng to its Nomination Committee. This strategic move, effective from June 25, 2025, aims to strengthen the governance framework of the company. The appointments are expected to enhance the company’s decision-making processes and reflect its commitment to maintaining a robust board structure.

The most recent analyst rating on (HK:3800) stock is a Hold with a HK$1.20 price target. To see the full list of analyst forecasts on GCL-Poly Energy Holdings stock, see the HK:3800 Stock Forecast page.

GCL Technology Holdings Announces Board Composition and Roles

GCL Technology Holdings Limited has announced the composition of its board of directors, highlighting the roles and functions of each member. This announcement underscores the company’s commitment to robust corporate governance, with a diverse board that includes executive directors and independent non-executive directors, each serving on various committees. This strategic structuring is expected to enhance the company’s decision-making processes and strengthen its position in the renewable energy sector.

The most recent analyst rating on (HK:3800) stock is a Hold with a HK$1.20 price target. To see the full list of analyst forecasts on GCL-Poly Energy Holdings stock, see the HK:3800 Stock Forecast page.

GCL Technology Holdings Successfully Passes All AGM Resolutions

GCL Technology Holdings Limited announced the successful passing of all resolutions at its Annual General Meeting held on May 30, 2025. The resolutions included the re-election of several directors, the approval of financial statements, and the authorization for the board to manage share allotments and buybacks. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives with a stable leadership team.

The most recent analyst rating on (HK:3800) stock is a Hold with a HK$1.20 price target. To see the full list of analyst forecasts on GCL-Poly Energy Holdings stock, see the HK:3800 Stock Forecast page.

GCL Technology Holdings Announces 2025 Annual General Meeting Agenda

GCL Technology Holdings Limited has announced its upcoming annual general meeting scheduled for May 30, 2025, in Suzhou, China. The meeting will address several key business items, including the consideration of the company’s audited financial statements for 2024, re-election of directors, and authorization of director remuneration. Additionally, the meeting will consider resolutions to authorize the board to issue additional shares, with specific conditions and limitations outlined.