On Oct. 23, GCL-SI announced in a statement that in the 89th working conference of the review board on Oct. 22, 2015, the Review Board for Mergers, Acquisitions and Restructurings of Listed Companies of the China Securities Regulatory reviewed and approved GCL-SI’s application for issuing shares for purchasing assets and collecting supporting funds (affiliate transactions) with certain conditions. Once GCL-SI has acquired 100% equities of Jiangsu Dongsheng and Zhangjiagang Qichen, its production capacity of modules will increase to over 4 GW, mainly for production of efficient cell modules and improvement of arrangement of the industry chain, which helps GCL-SI to become one of the leading suppliers of efficient modules in the world.

GCL-SI Chairman Shu Hua said the acquisitions will help GCL-SI to improve its profitability, complete the production lines of “customized” system integration products, lower the cost of PV power generation, and diversify the choices of future GCL-SI online trading platforms. Meanwhile, through the restructuring, GCL-SI’s assets structure will be optimized, which will build a solid foundation for financial activities in the Internet and financial innovation.