‘Silicon Module Super League’ (SMSL) member GCL System Integrated Technology (GCL-SI) has reported a 30.5% decline in third quarter 2016 revenue, primarily due to a major slowdown in downstream PV project construction in China since the end of June and average selling price decline as overcapacity took hold in the quarter.
GCL-SI reported unaudited third quarter revenue of around US$390 million, compared to around US$561 million in the previous quarter, a 30.5% quarter-on-quarter reduction.
However, revenue for the first nine months of 2016 reached US$1.38 billion, up around 63.6% from the prior year period.
The company is also establishing a new research and development and downstream integration and distribution technology base in Fengxian, Shanghai.
GCL-SI also said it would accelerate R&D activities in heterojunction solar cell technology and next-generation module assembly automation migration.