GCL-SI Announces Appointment of CEO, Further Strengthening Global Competitiveness

SUZHOU, China, Jan. 8, 2018 /PRNewswire/ -- GCL System Integration Technology Co., LTD. (SZ: 002506) ("GCL-SI", or the "Company"), a subsidiary of the world's leading clean energy conglomerate GCL, announces the appointment of Mr. Eric Luo as Chief Executive Officer,effective January 5, 2018.

Mr. Luo was nominated for Asian CEO of the Year in 2014 at Power and Electricity World Asia in recognition of his leadership in transforming Wuxi Suntech and Shunfeng International Clean Energy (SFCE) into leading clean energy solution providers. Mr. Luo was one of the keynote speakers at the 2016 Davos Annual Meeting for the Transformation of Energy session and received the Outstanding Leader award at the Global Energy Leaders Summit. Eric is currently serving as an industry advisor to the US-China Green Fund, a commercially-run private equity fund launched by business and government leaders from both the U.S. and China.

Before joining GCL, Mr. Luo was an Executive Director and CEO of Shunfeng International Clean Energy Limited. Previously, Mr. Luo served in a number of senior roles within the Shunfeng Group, including as CEO of Wuxi Suntech Power Co, Ltd. "We believe he will bring his diverse past electronics and industrial experiences to GCL as well," said Mr. Zhu Gongshan, Chairman of GCL Group.

"We are privileged to have Eric join our team, a strategic movement for the Company, as it accelerates GCL-SI's expansion and integration in global markets and furthers its development in the ex-China EPC and the energy storage businesses," said Mr. Shu Hua, Chairman of GCL-SI.

GCL-SI has achieved rapid development in providing photovoltaic modules and system integration services to position itself as a one-stop integrated clean energy service solution provider.

GCL-SI now has subsidiaries in Japan, India, North America, Australia, Singapore, and Germany with representative offices covering Thailand, South America, the Middle East, Southern Europe and Africa. The launch of the company's 600 MW production facility in Vietnam will further support its global outreach by increasing its market share in the European and North American markets. GCL will reach a total capacity of 8GW in 2018.

"2018 will be an exciting time for the Company to continue its solid growth track in the global market as we have been working on enhancing collaboration with both upstream and downstream companies in the industry value chain. The company has also made strategic investments by acquiring an approximately 10% equity share in GCL New Energy (0451.HK), which owns the largest solar operating assets in the world. I am very pleased to have the opportunity to be a member of a global platform for clean energy and I will work with every stakeholder to drive the Company to a new level while increasing shareholder returns," Mr. Luo commented.

About GCL-SI

GCL System Integration Technology Co., Ltd. (002506 Shenzhen Stock) (GCL-SI), is part of the GOLDEN CONCORD Group (GCL). GCL-SI delivers a one-stop, cutting-edge, integrated energy system and is committed to becoming the world's leading solar energy company.