GCL-Poly Energy Issues Profit Warning Amid Market Challenges

GCL-Poly Energy Holdings (HK:3800) has released an update.

GCL-Poly Energy Holdings has issued a profit warning, reporting an expected unaudited loss of approximately RMB 2.971 billion for the first nine months of 2024, a sharp turn from the profit of RMB 2.51 billion in 2023. This downturn is attributed to a significant decline in the market selling prices of polysilicon and silicon wafer products. Despite the challenges, the company continues to update on its solar material business, with notable production and shipment volumes in granular silicon.

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