Photovoltaic Industry: GCL TECH Rallies Almost 3% after Expecting 2022 Profit to Surge At Least 2x
$GCL TECH(03800.HK$ opened up 2.79% today, peaking at $2.25. It last printed at $2.21, up 2.79%, on volume of 35.378 million shares and turnover of $78.7051 million.
GCL TECH had announced that the Group expects to record a net profit of not less than RMB15.5 billion for the year ended 31 December 2022, representing a year-on-year increase of not less than 204% as compared to the net profit for the year ended 31 December 2021.
![Photovoltaic Industry: GCL TECH Rallies Almost 3% after Expecting 2022 Profit to Surge At Least 2x](https://sgsnsimg.moomoo.com/feed_image/103055095/4e85e835bf0435df83969225833c58a4.png/bigmoo)
The significant increase in the net profit was mainly due to the continuous strong growth in the global photovoltaic industry, and the fact that there was a shortage of supply for polysilicon products causing an increase in both sales price and volume, and the advantage of granular silicon in terms of profitability was prominent.
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