Leading polysilicon and multicrystalline wafer producer GCL-Poly Energy Holding's dedicated wafer production subsidiary, GCL-Poly (Suzhou) New Energy has reported first-quarter 2018 revenue increase, quarter-on-quarter and year-on-year, after increasing wafer capacity by 62.2% by the end of 2017.
Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings reported lower revenue and profits than expected in the first half of 2017, primarily due to wafer price erosion, only partially offset by higher wafer production volumes and stable polysilicon prices.
Leading polysilicon and solar wafer producer GCL-Poly Energy Holdings has experienced a rise in polysilicon prices over the last 12 months, while experiencing a similar decline in the selling prices of solar wafers, causing a collision in prices going in the opposite direction that massively impacted its wafer operations profitability in the first quarter of 2017.
Since Wacker Chemie opened its new 20,000MT polysilicon plant in Charleston, Tennessee in 2016, there was a good chance that the German-headquartered chemicals firm could overtake incumbent market leader, GCL-Poly.
Leading polysilicon and multicrystalline wafer producer GCL-Poly Energy Holdings dedicated wafer production subsidiary, GCL-Poly (Suzhou) New Energy has reported a continued decline in quarterly revenue, representing the weak demand in China and ASP declines on overcapacity across the solar industry supply chain.