GCL Technology has outlined plans to list its perovskite subsidiary, GCL Optoelectronic, in Hong Kong in 2026, while also detailing expansion into the United States and the development of space-based solar applications.

Chairman Zhu Gongshan said the company is accelerating its shift away from reliance on a single business line, with a future portfolio centered 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 2 GW of production capacity, with 1 GW already in operation. The company expects shipments to reach about 100 MW in 2026.

Fan said overseas expansion plans are becoming clearer, with a potential 500 MW perovskite production line in the US under consideration if the IPO proceeds. Zhu said preparations for the Hong Kong listing are progressing, and the move could position the company as the first publicly listed specialist focused on perovskite technology, if completed.

The company also outlined a three-step strategy for space-based solar. This includes deep-space durability testing in 2026, mass production of dedicated space modules in the 2027 – 2028 period, and a longer-term goal of supplying power systems for Chinese spacecraft.

GCL said it has already sent initial 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 wing and in-orbit applications, and plans a near-space validation mission using a high-altitude balloon in the fourth quarter of 2026.

Fan said the technology must withstand a wide operating range, from about -90 C to 110 C, significantly beyond typical terrestrial conditions. The company is targeting a service life of more than five years for perovskite products in space. Initial 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 financial results for 2025, with revenue of CNY 14.425 billion ($2.095 billion), down 4.5% year on year, and a net loss attributable to shareholders of CNY 2.868 billion. The company attributed the losses mainly to its polysilicon business, although granular silicon remained its largest segment. Management also said it would not participate in the current wave of consolidation in the solar industry.

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