GCL-SI increases international sales to 45.80% in 1H 2018 on return to profitability

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
GCL System Integrated Technology (GCL-SI) reported a significant shift of its sales to outside China in the first half of 2018, accounting for 45.80% of total sales in the reporting period that also helped return the company to profitability. Image: GCL SI

‘Silicon Module Super League’ (SMSL) member GCL System Integrated Technology (GCL-SI) reported a significant shift of its sales to outside China in the first half of 2018, accounting for 45.80% of total sales in the reporting period that also helped return the company to profitability. 

GCL-SI reported first half 2018 operating income of approximately RMB 6.08 billion (US$893.8 million approx.), compared to around RMB 6.38 billion in the prior year period, a decline of 4.71%.

GCL SI reported a second quarter 2018 operating income of approximately RMB 4.06 billion (US$596.92 approx.), compared to US$297.09 million in the first quarter of 2018.

The net profit was RMB 2,558.10 million (US$3.79 million approx.), an increase of 6.53% from the prior year period.

In the first half of 2018, the company's overseas market order book was said to have been full, achieving 1.02GW of overseas market shipments and an operating income of over RMB 2.786 billion (US$409.4 million), a year-on-year increase of 201.88%. 

Overseas PV module shipment operating income had been 14% of total income in the first half of 2017. 

On a quarterly basis, GCL-SI reported a second quarter 2018 operating income of approximately RMB 4.06 billion (US$596.92 approx.), compared to US$297.09 million in the first quarter of 2018. 

Operating income in the second quarter of 2018 was the second highest quarterly record.

The company also benefited from the rush to complete PV Power plants in China before the end of June tariff deadlines but the company noted that the Chinese Governments 5/31 New Deal had reduced domestic demand for PV products, notably in the utility-scale market.

The company noted that utility-scale market in China reached 12.06GW in the first half of 2018, a year-on-year decrease of 30%, while distributed photovoltaic power generation reached 12.24GW, an increase of nearly 72% year-on-year, according to data from China’s National Energy Administration. 

GCL-SI said that during the reporting period PV module and component shipments reached 2.34GW, including around a half accounted for by new PV modules such as MBB, bifacial, PERC and other glass-glass products. 

Read Next

July 29, 2021
Tracker and racking provider Arctech has delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China.
July 23, 2021
China could install up to 65GW of solar this year, driven largely by a surge in demand for distributed solar installations, while average solar deployment could reach 90GW per year in the years leading up to 2025.
July 16, 2021
Finlay Colville, head of market research at PV Tech Research, explores the critical themes behind the solar industry’s transition from p-type to n-type cell production before previewing PV CellTech Online 2021.
July 15, 2021
Legislation that would ban the import of all products from China’s Xinjiang region into the US has taken a critical step forward, passing the US Senate.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
July 2, 2021
Trina Solar has achieved a record aperture module efficiency of 23.03% for larger-area industrial silicon p-type modules, the manufacturer said.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK