April 18, 2016 - 3:30 AM EDT
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GCL-SI Strategically Acquires Australia OSW

SUZHOU, China, April 18, 2016 /PRNewswire/ -- On 15th April, GCL System Integration Technology (Hereinafter referred to as GCL-SI) signed an agreement with Australia ONE STOP WAREHOUSE PTY LTD (Hereinafter referred to as OSW) that GCL-SI owns a 51% stake of OSW. Both have also come to an agreement in sales distribution, strategic development and future business planning, etc.

Photo - http://photos.prnewswire.com/prnh/20160417/356239

Under the huge pressure of Europe and America's "anti-dumping & anti-subsidy" policy to the photovoltaic industry, an increasing number of PV corporations in China strive to march into overseas markets in avoidance of Europe and America's "double-anti" policy. GCL-SI's successful acquisition of OSW is a crucial step for GCL-SI to enter the global market.

The aim of GCL-SI's acquisition of OSW is to strategically enter the global market and develop its own product layout and distributed PV integration unit. Apart from the core business segments, GCL-SI strives to develop new businesses, such as carbon emission reduction and energy storage, etc. for new profit growth and its rapidly sustainable development.

OSW is an Australian PV corporation active in PV system. Its four distribution centers are widely scattered in the whole of Australia. Besides, OSW develops e-commerce, operation and mobile platforms by itself. In the first 11 months of last year, OSW, with sales of 45.145 million Australian Dollars, reported a net profit of 1.78 million Australian Dollars.

About GCL System Integration Technology Co., Ltd.

GCL System Integration Technology Co., Ltd. (002506 Shenzhen Stock) (GCL System) is part of the GOLDEN CONCORD Group (GCL), an international energy company specializing in clean and sustainable power production. The group, founded in 1990, now employs 20,000 people. GCL supplies 35% of the total wafer capacity yield worldwide, representing a 30% silicon market share, and owns global assets worth of nearly 16 billion USD.

With over 2.5 GW module shipment output in 2015, GCL System is committed to becoming the world's leading solar energy company. It delivers a one-stop, cutting-edge, integrated energy system. Based on a fully-integrated Vertical PV industrial chain capacity operation, GCL System establishes its business foundation on the development of a state-of-the-art solar solutions package, which incorporates DESIGN-PRODUCT-SERVICE.

Source: PR Newswire (April 18, 2016 - 3:30 AM EDT)

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