GCL Energy Technology delays projects, forecasts 2026 related-party transactions

GCL Energy Technology has extended the completion dates for its "Distributed Photovoltaic Power Station Project" and "New Energy Storage Power Station Project" to December 31, 2026. The "Shizhu Qiyaoshan Yulong Wind Power Phase II Project" is now set for completion by February 28, 2026. The company cited policy shifts, market changes, and construction delays for these adjustments, which do not alter the projects’ main bodies, methods, or allocated funds.

The company also projected 140,000.00 yuan in related-party transactions for 2026, including 105,000.00 yuan for purchasing goods and services, 30,000.00 yuan for selling goods and services, and 5,000.00 yuan for leases. A comprehensive credit line of up to 5bn yuan from financial institutions was approved for 2026, alongside authorized derivative hedging activities with a cap of 24,000.00 yuan in collateral/premiums and a maximum contract value of 250,000.00 yuan.

Additionally, non-independent director Zhu Zhanjun resigned due to work adjustments. Li Minggang was nominated as a non-independent director. These changes aim to enhance financial stability and ensure prudent resource allocation.