Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

GCL SI's Net Profit Soars by 142.24% in 2023, Ranking Among Industry's Top Ten in Production and Sales


News provided by

GCL SI

30 Apr, 2024, 15:14 GMT

Share this article

Share toX

Share this article

Share toX

SUZHOU, China, April 30, 2024 /PRNewswire/ -- GCL System Integration Technology Co Ltd (GCL SI) (Shenzhen:002506) disclosed its financial results for the fiscal year ended December 31, 2023, in a press release issued after market close on April 26th. The company's revenue reported a year-on-year increase of 91.15% to approx. 2.20 billion dollars. Additionally, net profit attributable to shareholders rose 142.24% year-on-year to approx. 21.76 million dollars. Besides operational performance, the company demonstrated industry leadership through its advanced production capacity, efficiency in lean production, and increased market share.

Continue Reading
This image opens in the lightbox
GCL SI Wuhu Cell Facility

In 2023, GCL SI continued its strategic focus on expanding production capabilities, specifically in large-scale modules and N-type cells. The strategic pivot contributed to a robust increase in both domestic and international sales. Shipment volume reached 16.42GW for the year, enabling GCL SI to re-enter the roster of the top 10 industry leaders.

Notably, the first-quarter report of 2024, released concurrently, revealed that GCL SI maintained its robust growth. The company's operating income surged 89.97% year-on-year to approx. 407.1 million dollars. Furthermore, net profit attributable to shareholders rose to 3.36 million dollars, demonstrating sustained profitability amidst escalating competition within the industry.

As of the end of the reporting period, GCL SI had established an impressive production capacity of nearly 30GW high-efficiency modules. Specifically, the Hefei manufacturing facility has enhanced its equipment performance, ensuring compatibility with the TOPCon module production process and complete alignment with N-type technology trends. Additionally, the company's Funing facility commenced operations with a 12GW high-efficiency, large-size module production capacity in November 2023.

In 2023, GCL SI initiated the construction of a new 20GW (Phase I: 10GW) N-type TOPCon cell plant in Wuhu. The investment underscores the company's commitment to expanding production scale and strengthening the supply chain through its expertise in N-type TOPCon cells.

The Wuhu facility capitalized on a strategic opportunity to incorporate the world's most sophisticated automated cell production equipment and a smart factory design plan. Remarkably, the project was completed and operational within just five months. From the moment the first cell rolled off the production line, it took only 48 days to ramp up to the full 10GW capacity across all 20 lines. By the end of 2023, the facility had attained full production capacity, a testament to GCL's ability to act quickly on its strategy roadmap.

Moreover, to leverage the low-carbon benefits of its module products, GCL SI initiated a carbon data management project during the reporting period. Based on digital blockchain technology, the GCL carbon data platform is designed to disclose and certify the carbon footprint, product performance, and compliance documentation of GCL's offerings. The platform ensures that data concerning the firm's materials and products is traceable, verifiable, reliable, and tamper-proof. By establishing a comprehensive digital platform for tracking carbon emissions, the company aims to empower and drive the sustainable growth of the photovoltaic industry.

Concurrently, GCL SI unveiled the 2023 Annual Sustainability Report titled "NEXT Foresight", centering on the company's efforts in scientific carbon management, technological innovation, and resilience. The comprehensive report also details GCL SI's progress in environmental, social, and governance (ESG), underscoring the company's dedication to meeting its science-based carbon reduction targets.

For 2024, GCL SI plans to continue refining its production capacity to reduce manufacturing costs for PV modules, boosting the competitiveness of its offerings. The goal is to increase operating income by over 50%. The firm will further increase its investment in R&D, establishing a dedicated R&D center for cell modules. By constructing an independent, multi-functional R&D and pilot production line, this facility will concentrate on the development of new products and technologies, the validation of mass production, the integration of AI-driven intelligent control systems, and the provision of technical services.

Photo - https://mma.prnewswire.com/media/2401279/GCL_SI_Wuhu_Cell_Facility.jpg

Modal title

Also from this source

GCL SI Achieves EcoVadis Silver Medal Certification, Ranks in the Global Top 15% for ESG Practices

GCL SI Achieves EcoVadis Silver Medal Certification, Ranks in the Global Top 15% for ESG Practices

On February 17, 2025, GCL System Integration (GCL SI) achieved a significant milestone by securing the EcoVadis Group-level Silver Medal...

GCL SI Unveils Breakthrough in Mass-Produced TOPCon Modules, Showcasing Unparalleled Innovation and Efficiency

GCL System Integration (GCL SI) recently announced a groundbreaking achievement in its mass-produced high-power TOPCon modules. Under the standard...

More Releases From This Source

Explore

Green Technology

Green Technology

Environmental Products & Services

Environmental Products & Services

Electrical Utilities

Electrical Utilities

Utilities

Utilities

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.