GCL Energy Technology Co., Ltd. (002015) released its Q3 2025 financial report today, showing robust growth in both revenue and profitability. From January to September 2025, the company achieved operating revenue of 7.935 billion yuan, up 5.07% year-on-year. Net profit attributable to shareholders reached 762 million yuan, marking a 25.78% increase from the same period last year. Adjusted net profit rose 46.39% to 677 million yuan.
In Q3 alone, net profit attributable to shareholders grew 24.43% to 243 million yuan, while adjusted net profit increased 14.37% to 213 million yuan.
The company attributed its strong performance to two key drivers: the rolling development of new energy projects like distributed solar PV, coupled with the large-scale expansion of energy services including electricity retail, green power, and virtual power plants. These initiatives significantly boosted revenue and profits in the energy services segment. Additionally, operational efficiency improvements at existing power plants (wind farms and cogeneration facilities) contributed to the year-on-year growth.
As of September 30, GCL Energy's total grid-connected capacity reached 6,402.41MW, with renewable energy accounting for 60.08% of the portfolio, demonstrating substantial progress in green energy asset deployment.
The company also achieved breakthroughs in its two core business areas: energy conservation services and trading services. In distributed energy, GCL Energy expanded its solar PV project portfolio to 1,910.54MW of grid-connected capacity. On the trading front, it managed 24.123 billion kWh of electricity sales and 786 million kWh of green power transactions during the reporting period, along with 1.415 billion kWh equivalent in domestic and international renewable energy certificates.
GCL Energy's virtual power plant business has expanded beyond its core Jiangsu market to Shanghai, Zhejiang, Sichuan, and Shenzhen. With 835MW of adjustable load capacity (35% from Jiangsu's ancillary services market), the company now manages over 20GW of user capacity through its platform, leveraging its national-level demand-side management certification.
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