GCL New Energy Renews Contract for Operation, Management Service Provision

MT Newswires Live11-14

GCL New Energy (HKG:0451) has renewed an agreement for unit Suzhou GCL New Energy Operation Technology to continue providing operation and management services to Suzhou GCL Photovoltaic Power Technology for one year for around 6.3 million yuan, a Wednesday bourse filing said.

The move comes about as the original contract expired Oct. 24, according to the renewable energy company.

The firm had renewed a separate contract on Oct. 9 for the Hubei Branch of Suzhou GCL New Energy Operation Technology to continue to provide services to Wuhan Huaxinyi Energy for another year.

Suzhou GCL Photovoltaic Power Technology and Wuhan Huaxinyi Energy are units of GCL Technology (HKG:3800).

Shares of GCL New Energy closed nearly 4% lower on Thursday.

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