Chinese PV Industry Brief: Solargiga forecasts profits, GCL sees decline

Solargiga Energy says it expects to return to a profit of CNY 130 million to CNY 170 million for 2023, while GCL Technology says it anticipates lower profits for the year.

Solargiga Energy said it expects to return to profit for 2023 in the range of CNY 130 million ($18.09 million) to CNY 170 million for the full year, up from a loss of around CNY 134.8 million in 2022. It attributed the positive forecast to a rise in shipping volume of modules, as well as a boost in high-efficiency production capacity.  

GCL Technology, a polysilicon and wafer manufacturer, said it expects profits to fall to between CNY 2.3 billion and CNY 2.6 billion for 2023, down from a profit of CNY 16 billion in the previous year. It attributed the expected drop to the lower average selling price ) of polysilicon and wafer products during the reporting period. It also reported a loss of CNY 3.9 billion due to dividend and capital reductions related to its holding in Xinjiang Goens Energy Technology.   

This post appeared first on PV Magazine.

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