GCL New Energy Reports Revenue Growth but Continues to Face Losses in 2024

An announcement from GCL New Energy Holdings ( (HK:0451) ) is now available.

GCL New Energy Holdings Limited announced its financial results for the year ending December 31, 2024, reporting a revenue increase to RMB 1,108 million from RMB 832 million in 2023. Despite the revenue growth, the company faced a loss attributable to owners of RMB 424 million, an improvement from the previous year’s loss of RMB 1,166 million, indicating ongoing challenges in cost management and profitability. The results reflect a significant reduction in losses, which may impact the company’s strategic positioning and stakeholder confidence in its financial recovery efforts.

More about GCL New Energy Holdings

GCL New Energy Holdings Limited, incorporated in Bermuda, operates in the renewable energy sector, focusing primarily on solar energy solutions. The company is listed on the Hong Kong Stock Exchange and is involved in the development, construction, and operation of solar power plants.

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Technical Sentiment Signal: Buy

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