GCL-Poly confirms completion of its granular silicon facility, anticipates US$ 850m net profit in 2021

• Major polysilicon and wafer manufacturer GCL-Poly Energy Holdings verified the completion of its granular silicon facility as well as, in a significant turnaround of its lot of money in 2020, is expecting RMB5.4 billion (US$ 850 million) in net profit for 2021, according to a business statement.

The business claimed the granular silicon it created in 2021 made up roughly 18% of the total silicon products output as it attributed the granular silicon project with strengthening its monetary position, "with the gross profit margin of the granular silicon items greater than that of the rod silicon by over roughly 15%".

In 2021, GCL-Poly completed the building of its 30,000 MT granular silicon facility. Currently, the website has a production capacity of 20,000 MT, with the continuing to be 10,000 MT "expected" to find online in February.

"The procedure costs and item top quality of the granular silicon project fulfill or perhaps defeat the predicted requirement," claimed GCL-Poly.

The Hong Kong headquartered company stated in spite of "various adverse factors", such as high resources and also energy costs, it expected RMB5.4 billion in profit for 2021, compared with a massive bottom line of around RMB4.9 billion in 2020.

This, it stated, was to a more than 50% decrease in aggregate losses for its non-solar product company sector in 2021 after it lowered its one-off problems losses for the solar energy plants system, while likewise reducing finance costs as it paid off debts.

In February in 2015, GCL-Poly signed a supply arrangement with rival LONGi to supply every one of LONGi's 7 monocrystalline ingot/wafer subsidiaries with a total of 91,400 MT of polysilicon from March 2021 via to the end of 2023.