Summary by Moomoo AI
In the first half of 2024, GCL New Energy continues to promote its light asset strategy and actively expand other clean energy businesses based on its existing photovoltaic power generation business. The company successfully sold 36 photovoltaic power station projects in China, with a total capacity of approximately 584 megawatts, and completed the redemption and repurchase of nearly 0.24 billion US dollars of priority notes within 2023. As of June 30, 2024, the company's asset-liability ratio has declined to about 22.8%, and its liquidity has significantly improved. In addition, the company has made progress in smart energy management platforms, launching "Xinyi Connect" V3.0, and signing a strategic cooperation agreement with National Technology Group to jointly explore the new energy operation and maintenance market. The company also focuses on the implementation of ESG concepts and promotes the green, low-carbon, and sustainable development of the industry chain through internal governance improvement and external cooperation. In the first half of 2024, the company recorded a revenue of 4964.73 million RMB, gross profit of 702.3 million RMB, and a net loss of 1744.52 million RMB.
