GCL-Poly Energy Holdings ( (GCPEF) ) has released its Q4 earnings. Here is a breakdown of the information GCL-Poly Energy Holdings presented to its investors.
GCL-Poly Energy Holdings is a company operating in the renewable energy sector, primarily focusing on the production and sale of solar materials such as polysilicon and wafers, as well as operating solar farms. In its latest earnings report for the year ended December 31, 2024, GCL-Poly Energy Holdings reported a significant decline in revenue and profitability compared to the previous year. The company’s revenue dropped by 55.2% to RMB 15,097.6 million, and it recorded a gross loss of RMB 2,510.1 million, a stark contrast to the gross profit of RMB 11,692.2 million in 2023. The loss attributable to the owners of the company was RMB 4,750.4 million, compared to a profit of RMB 2,510.1 million in the previous year. Basic and diluted loss per share were both RMB (17.97) cents, compared to earnings per share of RMB 9.47 cents and RMB 9.46 cents, respectively, in 2023. Despite the challenging financial performance, GCL-Poly Energy Holdings has been focusing on technological innovation, particularly in its proprietary FBR granular polysilicon technology, which has seen significant cost reductions and increased market share. The company has also made breakthroughs in perovskite technology, achieving high conversion efficiencies and receiving global recognition for its advancements. Looking forward, GCL-Poly Energy Holdings is optimistic about its strategic initiatives and technological advancements, which are expected to drive future growth and enhance its competitive position in the renewable energy sector.