Chinese PV Industry Brief: Solargiga forecasts profits, GCL sees decline


Solargiga Energy said it expects to return to profit for 2023 in the range of CNY 130 million ($18.09 million) to CNY 170 million for the full year, up from a loss of around CNY 134.8 million in 2022. It attributed the positive forecast to a rise in shipping volume of modules, as well as a boost in high-efficiency production capacity.  

GCL Technology, a polysilicon and wafer manufacturer, said it expects profits to fall to between CNY 2.3 billion and CNY 2.6 billion for 2023, down from a profit of CNY 16 billion in the previous year. It attributed the expected drop to the lower average selling price ) of polysilicon and wafer products during the reporting period. It also reported a loss of CNY 3.9 billion due to dividend and capital reductions related to its holding in Xinjiang Goens Energy Technology.   

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