GCL Technology says its subsidiary GCL Optoelectronic is planning an initial public offering (IPO) in Hong Kong in 2026, alongside a potential 500 MW factory in the United States and a roadmap for space-based solar power.
GCL Technology has outlined plans to bring its perovskite subsidiary, GCL Optoelectronic, to Hong Kong in 2026, while also detailing expansion into the United States and development of space-based solar energy applications.
Chairman Zhu Gongshan said the company is accelerating the shift away from reliance on a single business line, with a future portfolio focused on granular silicon, perovskites and anode and cathode materials. He described perovskite as a key driver of the company’s transformation.
GCL Optoelectronic chairman Fan Bin said the unit is targeting a production capacity of 2 GW, of which 1 GW is already in operation. The company expects deliveries to reach approximately 100 MW in 2026.
Fan said overseas expansion plans are becoming increasingly apparent, with a potential 500MW perovskite production line in the US being considered if the IPO goes ahead. Zhu said preparations for the Hong Kong listing are progressing and the move could position the company as the first listed specialist to focus on perovskite technology when completed.
The company also outlined a three-step strategy for solar energy in space. This includes in-space endurance testing by 2026, mass production of dedicated space modules by 2027-2028, and a long-term goal to supply power systems for Chinese spacecraft.
GCL said it has already sent the first samples for testing to the Shanghai Institute of Space Power-Sources under the Eighth Academy of China Aerospace Science and Technology Corp. in the first quarter. It is also working with Shanghai SastSpace on perovskite solar wings and on-orbit applications, and plans a near-space validation mission using a high-altitude balloon in the fourth quarter of 2026.
Fan said the technology should be able to withstand a wide operating range, from about -90 C to 110 C, significantly more than typical terrestrial conditions. The company is targeting a lifespan of more than five years for perovskite products in space. The first launch validation missions could begin as early as July 2026, with two to three missions planned within the year.
The update comes as GCL Technology reported weaker 2025 financial results, with revenues of CNY14.425 billion ($2.095 billion), down 4.5% year-on-year, and a net loss attributable to shareholders of CNY2.868 billion. The company attributed the losses mainly to its polysilicon business, although granular silicon remained the largest segment. Management also said it would not participate in the current wave of consolidation in the solar sector.
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