Core Viewpoint - GCL-Poly Energy (03800) reported a significant turnaround in its photovoltaic materials business, achieving profitability in Q3 2025 after a previous loss, indicating a positive trend in the company's financial performance [1] Financial Performance - The photovoltaic materials business recorded a profit of approximately 960 million yuan in Q3 2025, compared to a loss of 1.81 billion yuan in the same period last year [1] - The profit includes a post-tax gain of about 640 million yuan from the sale of an associate company [1] Pricing and Cost Analysis - The average external selling price of granular silicon reached 42.12 yuan per kilogram in Q3 2025, up from 32.93 yuan per kilogram in Q2 2025 [1] - The average production cash cost (including R&D costs) for granular silicon decreased to 24.16 yuan per kilogram, down from 27.07 yuan per kilogram in Q1 2025 [1]

Core Viewpoint - GCL-Poly Energy (03800) reported a significant turnaround in its photovoltaic materials business, achieving profitability in Q3 2025 after a previous loss, which positively impacted its stock price [1] Financial Performance - The photovoltaic materials business recorded a profit of approximately 960 million yuan in Q3 2025, compared to a loss of 1.81 billion yuan in the same period last year [1] - The profit includes a post-tax gain of about 640 million yuan from the sale of an associate company [1] Pricing and Cost Analysis - The average external tax-inclusive selling price of granular silicon reached 42.12 yuan per kilogram, an increase from 32.93 yuan per kilogram in Q2 [1] - The average cash production cost of granular silicon (including R&D costs) decreased to 24.16 yuan per kilogram, down from 27.07 yuan per kilogram in Q1 [1]