Summary by Moomoo AI
GCL Technology (GCL Technology) issued a profit warning, expecting unaudited losses of approximately 2.971 billion yuan for the nine months ended September 30, 2024, a significant decrease compared to the audited profit of 2.51 billion yuan for the full year of 2023. The loss is mainly due to the average market price decline of polycrystalline silicon and silicon wafer products. The company also updated the business situation of the photovoltaic materials division, showing strong sales of granular silicon products, continuous optimization of cash costs, completion of technological upgrades, and a rebound in production capacity utilization. The company reminds shareholders and potential investors not to overly rely on unaudited operational data and to exercise caution when buying and selling shares. The announcement was issued by Chairman Zhu Gongshan on October 25, 2024.
