GCL-Poly Forecasts 5 Billion Yuan for 2021 Profit

PVTIME – On January 24, GCL-Poly Energy Holdings Limited (hereinafter referred to as GCL-Poly or the Company)(3800.HK), a globally leading polysilicon and silicon wafer supplier, announced that it expects its photovoltaic material business would achieve a net profit of about 5.4 billion yuan in 2021, while other non-photovoltaic materials business is expected to reduce losses by more than 50% compared with 2020. Overall, GCL-Poly expects a net profit of about 5 billion yuan in 2021, a substantial increase over the previous year.

The company stated that the price and volume of photovoltaic materials had risen in 2021, and the prosperity would continue. The output of granular silicon accounted for 18% of the company’s total production of silicon materials, excluding the production of silicon materials of associates, and the profit advantage of granular silicon has initially appeared. Under the circumstance that the prices of raw silicon and silicon materials have increased sharply, the gross profit rate of granular silicon was high with a gross profit margin of 15% more than that of rod-shaped silicon. In 2021, the production capacity of granulated silicon in GCL-Poly has been boosted from 10,000 to 30,000 MT, of which 20,000 MT have been produced at full capacity, and the remaining capacity is expected to be fulfilled in this February.