26 Aug '16, 4pm

GCL System increases revenue by 88% as GCL New Energy adds over 1GW to grid in 1H 2016

GCL System increases revenue by 88% as GCL New Energy adds over 1GW to grid in 1H 2016

GCLNE reported that at the end of June, 2016 it was operating 68 solar power plants in China across 19 provinces. China-based PV Manufacturer GCL System Integration Technology (GCLS) and downstream PV energy provider sister company, GCL New Energy (GCLNE) have both released strong financial results for the first half of 2016. GCL System reported first half year revenue of RMB 6.7 billion (US$1 billion), an increase of 88%, compared to the prior year period. Net profit in the period was around RMB 193 million (US$28.9 million), only 2.77% higher than the prior year period. The company noted that the increased revenue was primarily due to strong installations in China, which according to the China Photovoltaic Industry Association new PV installations reached 20GW in the first half of the year. However, in currently released financial filings, GCLS did not provide module shi...

Full article: http://www.pv-tech.org/news/gcl-system-increases-revenue-...

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GCL System increases revenue by 88% as GCL New Energy adds over 1GW to grid in 1H 2016 China-based PV Manufacturer GCL Sys...