28, Xiexin Technologies announced that. The Company shall CPICIM AI Computing Power with the Subscriber. SP issued a total amount of not more than HK $ 1.17 billion (equivalent to about RMB 10.
The conversion price is HK $1.60 per share . A total of approximately 731 million Conversion Shares will be issued, representing approximately 2.20% of the existing issued share capital of GCL Technology and approximately 2.20% of the issued share capital of the Company as enlarged by the issue of the Conversion Shares.
The conversion price premium 42.
For the proceeds from the issuance of convertible bonds, GCL Technology said it would be used as an investment and merger and acquisition fund . The operation of the fund is jointly led by Xiexin Technologies and subscribers, and the general partners of the fund need to be approved by both parties.
According to media reports, the fund will focus on the new energy market in the United States, focusing on the upgrading of granular silicon production capacity, the application of silane gas and perovskite ".
Previously, on September 16, 2025, Xiexin Technologies announced that it had reached a strategic financing agreement with Infini Capital, an internationally renowned investment institution with the background of the Middle East Sovereign Fund, to place about 4.736 billion shares through directional additional issuance. Raising funds of HK $5.446 billion (equivalent to about 49 yuan).
For this fund-raising, GCL Technology said it would use the capital reserve for supply-side structural reform to promote the structural adjustment of polysilicon production capacity; Strengthen the second curve , complete overseas substitution with the world's largest production capacity and output of silane gas, and build a new growth pole of GCL with silane gas; optimize the company's capital structure; In addition, 35% (approximately HK $1,887 million) was used for general working capital purposes and repayment of existing loans.
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