GCL-Poly Energy Holdings Ltd. announced that the group is expected to record a substantial loss attributable to owners of the company for the year ended December 31, 2012 as compared to a profit for the year 2011. Such adverse changes are primarily attributable to due to the adverse factors such as the anti-dumping and countervailing duties imposed by the U.S. and the impact of the European debt crisis on solar farms financing, the development of photovoltaic business has been slowed down with clear overcapacity across the solar value chain. Overseas enterprises began dumping viciously low-priced polysilicon to China, all these factors contributed to the substantial drop in the selling prices of photovoltaic products and the decline is particularly significant during the fourth quarter of 2012; and impairment and provisions are expected to be made against intangible assets, inventory, accounts receivables and production facilities of the Group.