GCL Technology Expects to Swing to Loss in Nine Months to September, Produces 27 GW Silicon Wafers

MT Newswires Live10-25

GCL Technology (HKG:3800) expects a loss attributable to owners of 2.97 billion yuan for the nine months ended Sept. 30, against an attributable profit of 2.51 billion yuan for the year ended Dec. 31, 2023, a Friday Hong Kong bourse filing said.

The company attributed the turn to loss to a substantial decline in the average selling prices of polysilicon and silicon wafer products during the reviewing period.

For the nine months that ended Sept. 30, the company produced 198,300 tons of granular silicon, its shipment weighed 207,300 tons, with the selling price coming in at 40.56 yuan/kilogram and production and R&D costs amounted to 35.43 yuan per kilogram.

The company produced 26.5 gigawatt of silicon wafers during the period including 6.1 gigawatt produced in the three months ended Sept. 30.

The energy, polysilicon, and electronic wafer producer's shares closed nearly 20% higher on Friday.

Price (HKD): $1.71, Change: $+0.28, Percent Change: +19.58%

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