Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research> BNP Paribas: GCL Technology (03800.HK) 2H25 Gross Margin Improves; Reiterates Outperform
Recommend 16 Positive 35 Negative 7 |
||||
|
||||
|
A research report by BNP Paribas stated that GCL Technology (03800.HK) recorded revenue of RMB8.69 billion in 2H25, representing a YoY increase of 39.4%. Gross margin turned positive to 23.4%, compared with negative 12.2% in 1H25. Net loss narrowed to RMB1.09 billion, in line with market expectations and the brokers forecasts. Earnings were mainly impacted by asset impairments of RMB1.76 billion last year, compared with RMB0.989 billion in the previous year. The broker believes GCL Technology continues to hold advantages among polysilicon peers. It expects limited downside room for polysilicon prices, ongoing industry consolidation, and anticipates that the companys new businesses will provide multiple catalysts. The broker lowered its earnings forecasts for 2026 and 2027, and cut the TP from HKD1.9 to HKD1.8, while reiterating its Outperform rating. (ss/w) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
