152.9%-270.9%! GCLSI Forecasts Net Profit Growth in 2023

PVTIME - GCL System Integration Technology Co., Ltd. (GCLSI, 002506.SZ), a leading renewable energy service provider, announced its financial forecast for 2023.

It is estimated to achieve revenue of 15.5 billion to 17.0 billion yuan, up 85.6% to 109% year on year. Meanwhile, the net profit attributable to the parent company is expected to be 150 million to 220 million yuan, up 152.9% to 270.9% year on year.

The increase in performance was mainly due to the company's leading shipments of modules with large production and sales volume in 2023, as claimed by GCLSI. In particular, the first phase of its module production base in Hefei City, China, reached a production capacity of 15GW of modules per year, and its Funing base with a capacity of 12GW of high-efficiency modules was put into operation as planned in 2023, both of which increased the production capacity of its large-size, high-efficiency solar modules. At the same time, the first phase of its solar cell production base in Wuhu City, China, started operations with excellent product yields.

In addition, sales channels were expanded with orders almost doubling. A number of orders were received from large enterprises, while the products were promoted in the overseas market.

Furthermore, the concentrated solar system business and EPC contracts were increased in 2023 with good performance. And the energy storage business was dramatically increased in both domestic and overseas markets. Management and costs were well controlled, resulting in better performance in 2023 than in the previous year.

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