GCL Technology Holdings Limited (HK:3800)
:3800
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GCL Technology Holdings Limited
(3800)
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Rating:46Neutral
Price Target:
HK$1.00
▲(3.09% Upside)
Action:ReiteratedDate:01/24/26
The score is held down primarily by weak financial performance, including declining revenue, negative profitability, and negative free cash flow. Technicals are mixed and provide only limited support, while valuation is not clearly attractive due to losses (negative P/E) and no stated dividend yield.
Positive Factors
Vertical integration
Owning manufacturing (polysilicon to cells) plus power plants provides durable control of the value chain. This vertical integration supports cost efficiency, supply reliability and margin recovery over months, insulating the company from upstream shortages and supplier price swings.
Negative Factors
Steep revenue contraction
A near-45% revenue decline signals structural demand or competitive issues that impair scale economics. Sustained top-line shrinkage pressures utilization, pricing power and investment capacity, making margin recovery and cash generation difficult over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration
Owning manufacturing (polysilicon to cells) plus power plants provides durable control of the value chain. This vertical integration supports cost efficiency, supply reliability and margin recovery over months, insulating the company from upstream shortages and supplier price swings.
Read all positive factors
GCL Technology Holdings Limited (3800) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$32.22B
Dividend YieldN/A
Average Volume (3M)589.14M
Price to Earnings (P/E)―
Beta (1Y)1.10
Revenue Growth-44.73%
EPS Growth-10.66%
CountryHK
Employees9,305
SectorTechnology
Sector Strength88
IndustrySolar
Share Statistics
EPS (TTM)-0.05
Shares Outstanding33,216,470,000
10 Day Avg. Volume662,714,953
30 Day Avg. Volume589,138,562
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.72
Price to Sales (P/S)1.78
P/FCF Ratio-3.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$1.33Price Target Upside36.86% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)<0.01
Revenue Forecast (FY)HK$17.14B
GCL Technology Holdings Limited 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...
How the Company Makes Money
GCL-Poly Energy Holdings generates revenue primarily through the sale of its solar products, including polysilicon, solar wafers, and solar cells, which are essential components in the manufacturing of solar panels. The company benefits from econo...
GCL Technology Holdings Limited Financial Statement Overview
Summary
Income Statement
25
Negative
Balance Sheet
45
Neutral
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.97B | 15.10B | 33.70B | 35.93B | 16.87B | 14.62B |
| Gross Profit | -2.66B | -2.51B | 11.69B | 17.50B | 5.57B | 3.75B |
| EBITDA | -2.12B | -2.73B | 8.07B | 20.74B | 8.46B | 4.67B |
| Net Income | -5.05B | -4.75B | 2.51B | 16.03B | 5.08B | -5.67B |
Balance Sheet | ||||||
| Total Assets | 71.49B | 74.87B | 82.77B | 85.56B | 64.10B | 80.50B |
| Cash, Cash Equivalents and Short-Term Investments | 5.99B | 7.00B | 8.52B | 6.89B | 7.13B | 2.51B |
| Total Debt | 17.68B | 19.10B | 15.50B | 13.74B | 12.60B | 42.40B |
| Total Liabilities | 30.01B | 32.58B | 34.45B | 40.01B | 31.80B | 60.11B |
| Stockholders Equity | 36.64B | 37.18B | 42.59B | 42.68B | 29.03B | 16.59B |
Cash Flow | ||||||
| Free Cash Flow | -1.27B | -7.53B | -16.07B | -8.06B | -4.10B | -568.91M |
| Operating Cash Flow | 495.51M | -3.30B | -3.85B | 7.87B | 1.88B | 1.59B |
| Investing Cash Flow | -2.50B | -6.04B | -10.91B | -16.55B | 742.87M | 2.74B |
| Financing Cash Flow | 3.19B | 7.69B | 14.96B | 8.40B | 959.20M | -4.16B |
GCL Technology Holdings Limited Technical Analysis
Negative
0.97
Price Trends
1.08
Negative
1.12
Negative
1.17
Negative
Market Momentum
-0.05
Negative
45.11
Neutral
70.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3800, the sentiment is Negative. The current price of 0.97 is below the 20-day moving average (MA) of 0.99, below the 50-day MA of 1.08, and below the 200-day MA of 1.17, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 45.11 is Neutral, neither overbought nor oversold. The STOCH value of 70.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3800.
GCL Technology Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | HK$28.36B | 29.49 | 2.93% | 1.41% | ― | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | HK$7.68B | -6.78 | -10.01% | ― | -32.90% | -152.00% | |
46 Neutral | HK$32.22B | -3.59 | -7.45% | ― | -44.73% | -10.66% | |
45 Neutral | HK$100.69M | -1.55 | ― | ― | 3.70% | -42.25% | |
43 Neutral | HK$255.93M | -0.84 | -24.72% | ― | -43.94% | -162.54% | |
42 Neutral | HK$564.72M | -7.28 | -1.39% | ― | 36.71% | 8.15% |
* Technology Sector Average
HK:3800
GCL Technology Holdings Limited
0.97
0.19
24.36%
HK:0750
China Singyes Solar Technologies Holdings
0.22
-0.05
-17.04%
HK:0757
Solargiga Energy Holdings
0.08
0.02
28.33%
HK:0968
Xinyi Solar Holdings
3.10
0.65
26.63%
HK:0712
Comtec Solar Systems Group Ltd.
0.10
0.03
43.94%
HK:1799
Xinte Energy Co., Ltd. Class H
5.37
1.14
26.95%
GCL Technology Holdings Limited Corporate Events
GCL Technology Signs 2026 Connected Procurement Deal With Henan GCL
Feb 2, 2026
GCL Technology Holdings Limited has entered into a 2026 Procurement Framework Agreement under which its indirect wholly owned subsidiary Jiangsu GCL, on behalf of itself and Ningxia GCL, will purchase products from Henan GCL, a related entity ulti...
GCL Technology to Raise HK$1.17 Billion via Convertible Bonds for M&A Fund
Jan 28, 2026
GCL Technology Holdings plans to issue up to HK$1.17 billion in convertible bonds to a professional investor under its general mandate, with the bonds convertible at HK$1.60 per share into up to 731.25 million new shares, representing about 2.20% ...
GCL Technology Clarifies Valuation Basis in Connected Subsidiary Equity Acquisition
Jan 22, 2026
GCL Technology Holdings has issued a supplemental announcement regarding its previously disclosed acquisitions of equity interests in a non-wholly owned subsidiary, providing additional detail on the valuation assumptions and the gap between the s...
GCL Technology Grants HK$296 Million in Share Awards to Senior Staff and Directors
Dec 24, 2025
GCL Technology Holdings has granted 271,732,888 share awards at nil consideration to 40 eligible senior managers, key employees and core operational staff under its share award scheme, representing about 0.818% of its issued share capital and carr...
GCL Technology Renews Connected Coal Supply Deal for 2026–2028
Dec 22, 2025
GCL Technology Holdings has entered into a new 2026–2028 Coal Supply Framework Agreement under which its affiliate GCL Intelligent Energy will supply coal to Jiangsu Zhongneng from 1 January 2026 to 31 December 2028, replacing the existing 2...
GCL Technology Announces Major Equity Acquisition in Subsidiary
Dec 8, 2025
GCL Technology Holdings Limited, a company incorporated in the Cayman Islands, has announced a significant transaction involving the acquisition of equity interests in a non-wholly owned subsidiary. The company has entered into a Partnership Agree...
GCL Technology Holdings Secures New Lease Agreements to Optimize Operations
Dec 1, 2025
GCL Technology Holdings Limited, through its subsidiary Suzhou GCL Research, has entered into a series of new lease agreements with GCL Energy Technology Group. These agreements involve leasing various portions of their research and headquarters b...
GCL Technology Completes Tranche 2B Share Subscription
Nov 19, 2025
GCL Technology Holdings Limited announced the completion of its Tranche 2B Subscription, issuing 1,353,043,000 new shares to Infini Global Master Fund at a price of HK$1.15 per share. This move is part of the company’s strategy to strengthen...
GCL Technology Completes Tranche 2A Subscription
Nov 7, 2025
GCL Technology Holdings Limited has announced the completion of its Tranche 2A Subscription, issuing a total of 1,353,043,000 new shares to Infini Global Master Fund at a price of HK$1.15 per share. This move is part of the company’s broader...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.