GCL Technology: There is still room for the cost reduction of granular silicon. The company uses "sales-based production" and the inventory is only about ten days.

Assistant Vice President Song Hao of LONGi Technology said in an interview with reporters that thanks to the strong cost and low carbon advantages of granular silicon, as well as the overall strategy of "production based on sales" of the company, LONGi's granular silicon is still in a tight balance between supply and demand, with inventory of only around 10 days, thus helping the company achieve positive EBITDA in the first quarter, and is expected to maintain stable positive cash flow so far. With the end of the first quarter photovoltaic installation rush, since mid-April, silicon prices have started to decline, and have been continuously decreasing for nearly five weeks until last weekend. "Since the self-discipline action in the industry in the second half of last year, leading companies have taken measures to reduce production and stabilize prices, but the previously accumulated high inventory turnover was not ideal, which is an important reason for restraining the rise in silicon prices," Song Hao said.