The board of the directors of GCL-Poly Energy Holdings Ltd. informed the shareholders of the Company and potential investors that, based on the preliminary management accounts of the Group for the six months ended 30 June 2016 (which has not been reviewed or confirmed by the Company's auditors), the Group expects to record a net profit attributable to owners of the Company of not less than RMB 1,300 million for the six months ended 30 June 2016 as compared to a net profit attributable to the owners of the Company of approximately RMB 653 million (equivalent to approximately HKD 826 million) for the corresponding period last year. The significant increase in net profit attributable to owners of the Company was mainly due to the remarkable financial performance of its solar material business as a result of the further reduction in production costs of polysilicon and wafer, the increase in average selling price and the strong increase in sales volume of wafer.