Summary by Moomoo AI
GCL Technology released a profit warning, expecting an unaudited loss of approximately CNY 1.45 billion in the first half of 2024, in sharp contrast to the profit of approximately CNY 5.52 billion in the same period in 2023. This loss is mainly due to the significant decline in the average selling price of polycrystalline silicon and silicon wafer products, as well as inventory impairment. Despite this, the company has made progress in granular silicon business, with R&D expenses exceeding CNY 0.7 billion, and significant breakthroughs in production costs and product quality. The company's granular silicon production line is expected to be completed in September 2024 following systemic optimization, and is expected to achieve performance turnaround. In addition, the quality of granular silicon products has...Show More