GCL Technology Holdings Limited (stock code: 03800) announced that it has mutually agreed with the prospective subscriber to terminate the Subscription Agreement for a proposed issue of convertible bonds originally signed on 28 January 2026 and supplemented on 27 February 2026. The termination became effective on 19 March 2026.

The cancellation halts the company’s earlier plan to raise capital through convertible bonds under its existing general mandate. No further details about the size of the intended issuance or the reasons for the termination were provided in the filing.

The board of GCL Tech, chaired by Zhu Gongshan, formally approved and disclosed the termination on 19 March 2026. As of that date, the board consists of six executive directors—Zhu Gongshan, Zhu Yufeng, Zhu Zhanjun, Sun Wei, Lan Tianshi, and Yeung Man Chung, Charles—alongside four independent non-executive directors: Ho Chung Tai, Raymond; Shen Wenzhong; Li Junfeng; and Yip Tai Him.