China’s GCL-Poly Energy sees doubled H1 loss
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Chinese solar company GCL-Poly Energy Holdings Ltd (HKG:3800) on Friday said it expects to report a net loss of at least CNY 1.5 billion (USD 217m/EUR 183.5m) for the six months through June 2020.
The projected result, which is based on a preliminary assessment of the group’s latest management accounts, is double the CNY-751-million loss that was posted for the same period of 2019.
The board of GCL-Poly blames the expanded loss on asset impairments, a reduced solar power generating capacity following certain disposals, lower wafer sales and an exchange loss.
The group anticipates publishing its unaudited consolidated interim results for January-June 2020 on August 28.
Source: renewablesnow
