The latest update is out from GCL-Poly Energy Holdings ( (HK:3800) ).
GCL Technology Holdings Limited has issued a profit warning for the year ending December 31, 2024, expecting a loss of approximately RMB4.8 billion, compared to a profit of RMB2.5 billion in 2023. This downturn is attributed to a decrease in the average selling price of its products, disposal losses, and equipment impairments. Despite these challenges, the company reports progress in its solar material business segment, with improved cost control and reduced losses. Additionally, the board has approved a voluntary reduction in executive directors’ remuneration to mitigate expenses, reflecting their commitment to navigating the current challenging business environment.
More about GCL-Poly Energy Holdings
GCL Technology Holdings Limited is a company incorporated in the Cayman Islands, primarily engaged in the production of polysilicon and wafer products for the solar energy industry. The company focuses on technological advancements in granular silicon technology and cost control measures to enhance its market position.
YTD Price Performance: -18.75%
Average Trading Volume: 5,549
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.1B
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