(Hong Kong, 6 June 2011) GCL-Poly (Suzhou) New Energy Limited, a subsidiary of GCL-Poly Energy Holdings Limited (“GCL-Poly”, the “Company” or the “Group”; Stock code: 3800.HK), and Goldpoly New Energy Holdings Limited (“Goldpoly”, Stock code: 0686.HK), today announced to build a 300 MW capacity wafer plant in Quanzhou dedicated to Goldpoly’s requirements.

Mr. Shu Hua, the Executive Director and President of GCL-Poly, stated, “We are very pleased to establish a long-term strategic relationship with Goldpoly which is a leading photovoltaic enterprise in the southeastern region of Mainland China. Goldpoly is the first solar cell manufacturing company established in Fujian Province. We have cooperated with them for many years and have established trustful relationship with each other. Goldpoly focuses on technology research and development, improves cell conversion efficiency, and develops innovative technologies and new products continuously. We are committed to capitalising on our expertise in upstream manufacturing to support Goldpoly. Both of us are dedicated to product quality and our commitments to customers, keeping order development in the market, and maintaining the long-term interests of the industry. This joint venture is not only a further development of the new mode of strategic cooperation between GCL-Poly and its downstream customers, but at the same time a strategic move by GCL-Poly to the southeastern region of Mainland China. It helps GCL-Poly to extend its business coverage to Taiwan and the emerging markets in the South-East Asia, which is strategically important to GCL-Poly.”

Mr. Ka So Yiu, Executive Director of Goldpoly New Energy Holdings Limited, said, “GCL-Poly has been one of our high-quality suppliers and important strategic partners. The signing of the cooperation agreement reinforces the competitive advantages of each other and the confidence in the solar business. This joint venture matches the future expansion plan of Goldpoly, and further assures our raw material supply.”

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