GCL System Integration Awarded First Global CSR+ Reinsurance Certificate

Swiss Re, with a history of more than 150 years, and with branches and affiliates in major cities around the world, is one of the world's largest reinsurance companies. At the beginning of 2018, the company issued the Solar Panel Code of Practice: International Guideline on the Risk Management and Sustainability of Solar Panel Warranty Insurance (SPCoP). The core content of the SPCoP, CSR+ sets the reliability testing standards for quality and power performance of solar panels. The testing comprises the panel composite reliability testing programme as well as a comprehensive factory audit for all production plants.

GCL-SI's Vice President He Deyong said, "CSR+ is one of the most advanced testing standards in the world. The fact that the company was able to successfully pass the extra-stringent testing demonstrates the reliability of its products. Meanwhile, direct underwriting by specialist energy insurance provider Alltrust Insurance Company, together with reinsurance support from Swiss Re, offers robust insurance protection, strongly underpinning GCL-SI's market development plans on a worldwide basis. GCL-SI hopes to cooperate further with Swiss Re in the areas of finance, insurance and manufacturing, and build a technical exchange platform to help accelerate growth in the alternative energy industry."

The CSR+ standard is the latest reliability testing standard and is far more rigorous than that required by current IEC61215 and IEC61730 certifications. Swiss Re has always adhered to the philosophy of value investing and supports as well as carries out long-term partnerships with customers that have sustainable competitiveness. As the first enterprise in the world to pass Swiss Re's CSR+ reliability testing programme, GCL-SI will receive insurance provided by Alltrust Insurance Company as well as reinsurance from Swiss Re for the panels it produces during the period of validity of the certificate. This alliance underscores the excellent performance and reliable quality of GCL-SI's panels. Reinsurance support from Swiss Re is a strong endorsement of the quality of GCL-SI's panels and provides a strong guarantee for panel sales. Meanwhile, Swiss Re's insurance solutions and many decades of experience can further help its customers lower their financial and financing costs.

As a Tier 1 panel manufacturer, GCL-SI regards product quality as a priority and has gained the trust of customers around the globe on the basis of its stability and reliable product quality. GCL-SI consistently emphasizes that lowering costs and increasing innovation should be at the center of responding to grid parity. GCL-SI aims to provide greater value to customers with high quality and low price-performance ratios.

About GCL-SI

GCL System Integration Technology Co., Ltd. (SZ: 002506) (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.

About Swiss Re

The Swiss Re Group is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally. It has been present in China since 1995, opening its branch in Beijing in 2003 to offer a full range of reinsurance products and services throughout China.

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