HK Stock Market Move | GCL TECH (03800) rose more than 7% in trading today. Recently, it completed the issuance of 1.015 billion shares according to the subscription agreement and placement agreement.

GCL TECH (03800) rose more than 7% during trading, as of the writing, it rose 7.2% to HK$1.34, with a turnover of HK$2.89 billion. On the news front, GCL TECH announced that on October 10, 2025, it completed the issuance of 1.015 billion subscription shares in the 1B tranche, based on the subscription agreement dated September 16, 2025 (revised on September 25, 2025) and the placement agreement dated September 16, 2025. The announcement stated that the company plans to use some of the proceeds for mergers and acquisitions to acquire target companies and/or assets in mainland China to increase its polysilicon production capacity. As of the date of this announcement, the company has not yet entered into negotiations with any specific target company or identified any related target companies. The company will continue to search for suitable targets in the market and will disclose information in accordance with listing rules at the appropriate time.