GCL Technology Holdings signed a non-binding agreement to buy 81.91% of Sichuan GCL Lithium Battery Technology, a lithium iron phosphate (LFP) cathode producer, for about Yuan 2.5 billion. The target has 120,000 tonnes/year of LFP capacity and supplies Contemporary Amperex Technology Co Ltd (CATL) and HiTHIUM. GCL said the deal would reduce its reliance on polysilicon and wafer price cycles after a first-half net loss of Yuan 2.08 billion. The connected-transaction structure and shareholder approval add execution risk, but the move deepens integration between China's solar materials and battery storage chains.
Edited by Lucas Wang, wangchenghao@mysteel.com
