Group 1 - The core viewpoint of the news highlights a significant rally in Hong Kong's photovoltaic solar stocks, driven by the anticipation of a restructuring "joint platform" for polysilicon companies, with a proposed fund size of around 70 billion yuan [1] - Major solar companies such as GCL-Poly Energy and Xinyi Solar have seen substantial stock price increases, with GCL-Poly rising by 7.25% and Xinyi Solar by 6.78% [2] - The restructuring initiative involves 17 leading companies agreeing to form a consortium, with plans to complete the process by 2025 [1][2] Group 2 - The stock performance of key companies includes GCL-Poly Energy with a market cap of 45.155 billion yuan and a year-to-date increase of 37.04%, and Xinyi Solar with a market cap of 36.039 billion yuan and a year-to-date increase of 27.18% [2] - Other notable performers include LONGi Green Energy and Sunshine Energy, both showing significant gains of over 5% [1][2] - The restructuring is expected to leverage 10 billion yuan to facilitate a 70 billion yuan acquisition through a debt-based approach [1]

呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00451 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | HKD | 0.083333333334 | HKD | | 250,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 3,000,000,000 | HKD | 0.083333333334 | HKD | | 250,000,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 協鑫新能源控股有限公司 本 ...

GCL New Energy Holdings Limited 協鑫新能源控股有限公司 ( 于百慕達註冊成立之有限公司 ) (股份代號: 451) 風險評審委員會 職權範圍書 1. 組成 1.1. 風險評審委員會（「委員會」）為 GCL New Energy Holdings Limited 協鑫新 能源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）轄下的委 員會。 2. 成員 2025 年 11 月修订 2/3 3.2. 委員會下設委員會辦公室（「辦公室」），為委員會的辦事機構，承擔委員 會的日常工作，其主要職責如下： 3.2.1. 接受委員會的領導，制定工作計畫，安排相應的審議和評估。 3.2.2. 對重大投資項目、重大開發項目、重大出售項目進行前期可研審核，督促 相關部門做好決策前期的準備工作，並提出意見。 3.2.3. 對公司及所屬公司的內控制度的完善程度、執行情況進行監督，並提出評 估意見。 3.2.4. 對公司重大經營、財務等事項實施調查、評估及解決的措施和方案，提供 專業報告。 3.2.5. 辦公室成員：由董事會或本公司管理層不時委任。 4.1. 委員會議事程序包括下列各項： 4.1 ...

GCL New Energy Holdings Limited | 委員會 | 審核 | 薪酬 | 提名 | 風險評審 | 公司治理 | | --- | --- | --- | --- | --- | --- | | 董事 | 委員會 | 委員會 | 委員會 | 委員會 | 委員會 | | 執行董事 | | | | | | | 朱共山先生（主席） | — | — | C | C | — | | 朱鈺峰先生（副主席） | — | M | — | M | C | | 黃威先生（總裁） | — | — | M | M | M | | 非執行董事 | | | | | | | 孫瑋女士 | — | — | — | — | — | | 楊文忠先生 | — | — | — | — | — | | 方建才先生 | — | — | — | — | — | | 獨立非執行董事 | | | | | | | 聶文華先生（首席 | C | C | M | — | M | | 獨立非執行董事） | | | | | | | 胡國文先生 | M | M | M | — | — | | 趙麗梅女士 | M | — | M | — | M | ...

Core Viewpoint - GCL-Poly Energy (00451) announced significant changes in its board and committee structure effective from November 2, 2025, indicating a strategic shift in governance and leadership roles [1] Group 1: Board Appointments - Mr. Zhu Gongshan appointed as the Chairman of the Risk Assessment Committee [1] - Mr. Huang Wei appointed as Executive Director, President, and member of multiple committees including the Nomination Committee and Risk Assessment Committee [1] - Mr. Nie Wenhua appointed as Independent Non-Executive Director and Chairman of the Audit and Remuneration Committees [1] - Ms. Zhao Limei appointed as Independent Non-Executive Director and member of the Audit, Nomination, and Corporate Governance Committees [1] Group 2: Resignations and Reassignments - Mr. Zhu Yufeng no longer serves as Chairman of the Risk Assessment Committee, now a member [1] - Mr. Wang Dong resigned as Executive Director and President [1] - Mr. Gu Zengcai resigned as Executive Director and member of the Risk Assessment Committee [1] - Mr. Li Gangwei and Dr. Chen Ying resigned from their roles as Independent Non-Executive Directors and various committee positions [1] - Ms. Sun Wei and Mr. Yang Wenzhong retained their positions as Non-Executive Directors but stepped down from committee roles [1]

Core Viewpoint - GCL-Poly Energy (00451) announced significant changes in its board and committee structure effective from November 2, 2025, indicating a strategic shift in governance and leadership roles within the company [1] Group 1: Board Appointments - Mr. Zhu Gongshan appointed as the Chairman of the Risk Assessment Committee [1] - Mr. Huang Wei appointed as Executive Director, President, and member of multiple committees including the Nomination Committee and Risk Assessment Committee [1] - Mr. Nie Wenhua appointed as Independent Non-Executive Director and Chairman of the Audit and Remuneration Committees [1] Group 2: Board Resignations - Mr. Wang Dong resigned as Executive Director and President [1] - Mr. Gu Zengcai resigned as Executive Director [1] - Dr. Chen Ying resigned as Independent Non-Executive Director and member of several committees [1] Group 3: Committee Changes - Mr. Zhu Yufeng no longer serves as Chairman of the Risk Assessment Committee but remains a member [1] - Ms. Sun Wei no longer serves as a member of the Remuneration Committee but retains her position as Non-Executive Director [1] - Mr. Yang Wenzhong no longer serves as a member of the Corporate Governance Committee [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而 引致的任何損失承擔任何責任。 GCL New Energy Holdings Limited 協鑫新能源控股有限公司 （於百慕達註冊成立之有限公司） （股份代號：451） (1) 執 行 董 事 變 更； (10)顧增才先生辭任本公司執行董事，以及風險評審委員會和公司治理委員會成員； 協鑫新能源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，有關本公 司董事會成員、董事委員會、總裁及授權代表的以下變動，自二零二五年十一月二日 起生效。 – 2 – (2) 獨 立 非 執 行 董 事 變 更； (3) 總 裁 變 更； (7) 內幕消息－業務更新 本公司董事會欣然宣佈，有關本公司董事會成員、董事委員會、總裁及授權代表的以 下變動，自二零二五年十一月二日起生效： – 1 – (4) 委 員 會 主 席 及 成 員 變 更； (5) 指 定 首 席 獨 立 非 執 行 董 事； (6) 授 權 代 表 變 更；及 (1 ...

Core Viewpoint - The photovoltaic stocks have collectively risen, with significant increases observed across various companies, indicating a positive market sentiment in the solar energy sector [1]. Company Performance - Xinte Energy (01799) saw a price increase of 8.49%, reaching 8.560, with a trading volume of 236.99 million and a market capitalization of 12.241 billion [2]. - GCL-Poly Energy (03800) increased by 5.30% to 1.390, with a trading volume of 530 million and a market capitalization of 42.409 billion [2]. - GCL-New Energy (00451) rose by 4.41% to 0.710, with a trading volume of 549,400 and a market capitalization of 1.104 billion [2]. - Sunshine Energy (00757) increased by 4.08% to 0.102, with a trading volume of 16,400 and a market capitalization of 0.339 billion [2]. - Xinyi Solar (00968) saw a 2.73% increase to 3.760, with a trading volume of 10.1 million and a market capitalization of 34.393 billion [2]. - Other companies such as Kaisheng New Energy (01108), Xinyi Energy (03868), and Fuchai Glass (06865) also reported positive price movements ranging from 1.28% to 2.14% [2]. Industry Developments - According to a report by Shanghai Securities News, GCL Group's chairman, Zhu Gongshan, mentioned that 17 leading companies in the photovoltaic sector have signed agreements for joint capacity storage [2]. - Shenwan Hongyuan released a research report stating that polysilicon is a key focus for combating industry competition, and the establishment of a joint platform will accelerate supply-side reforms in polysilicon [2]. - The report also indicated that the ongoing efforts to combat competition are leading to noticeable recovery in industry prices and profitability, with expectations for price increases starting in Q3 2025 under a "not below cost sales" pricing regulation [2].

Group 1 - Hong Kong solar stocks experienced a significant rise, with New Special Energy leading the increase by over 8%, followed by GCL-Poly Energy with over 6% and Sunshine Energy, GCL New Energy with over 4% [1] - Sunshine Power's Q3 earnings exceeded expectations, reporting a net profit of 4.147 billion yuan, a year-on-year increase of 57.04% [1] - Ganfeng Lithium turned a profit in the first three quarters compared to the previous year, while TCL Zhonghuan reported a significant reduction in losses both year-on-year and quarter-on-quarter [1] Group 2 - The "14th Five-Year Plan" emphasizes the development of new energy storage and the establishment of market and pricing mechanisms suitable for the new energy system, which supports not only solar installations but also addresses the issue of renewable energy consumption [1] - The plan highlights the need for coal power transformation, development of pumped storage and new energy storage, and acceleration of smart grid construction, benefiting related industries such as energy storage and grid equipment [1] - Chinese manufacturers have a significant cost advantage in overseas markets due to the scale of energy storage cell and battery system production, allowing them to win large projects at lower Levelized Cost of Energy (LCOE) [1] Group 3 - According to the CESA Energy Storage Application Association database, the total scale of new overseas orders/cooperation for Chinese energy storage from January to September 2025 reached 214.7 GWh, a year-on-year increase of 131.75% [1]

Core Viewpoint - The official launch of the 200,000 cubic meter liquefied natural gas (LNG) plant by GCL-Poly Energy Holdings Limited in the Calub camp of Ethiopia's Somali region marks a significant development in the region's energy sector, alongside the groundbreaking of additional large-scale projects including LNG liquefaction and power generation [1] Group 1 - The GCL-Poly's LNG plant has a capacity of 200,000 cubic meters, indicating a substantial investment in the energy infrastructure of Ethiopia [1] - The simultaneous groundbreaking of the second phase of the GCL-Poly LNG liquefaction project and other related industries such as natural gas power generation and refining highlights the company's commitment to expanding its operations in the region [1]