GCL-SI Reports 1.02GW in Overseas Shipment in the First Half of 2018, up 201.88%
GCL subsidiary GCL System Integration Technology Co., Ltd. (GCL-SI), a member of the Silicon Module Super League (SMSL), has recently announced that in the first half of 2018, it shifted the focus of its sales largely to overseas markets, which contributed 45.80% of the total sales of the reporting period, getting the company back in profit.
According to a report of GCL-SI, the company achieved a total business revenue of RMB 6.08 billion (approximately USD 893.8 million) in the first half of 2018, down 4.71% from the RMB 6.38 billion of the same period last year.
The net profit registered RMB 25.581 million (approximately USD 3.79 million), up 6.53%.
Orders from overseas markets were said to reach the maximum quantity the company could offer in the first half of 2018 and the total overseas shipment amounted to 1.02GW, bringing a total business revenue of more than RMB 2.786 billion (approximately USD 409.4 million), up 201.88% over the same period last year.
In the first half of 2017, the revenue from overseas shipment of PV modules accounted for 14% of the total sales revenue.
In quarterly terms, GCL-SI had RMB 4.06 billion (approximately USD 596.92 million) in sales revenue in the second quarter of 2018, while the sales revenue of the first quarter was about USD 297.09 million.
The figure of the second quarter of 2018 is the second highest quarterly sales.
GCL-SI also benefited from rushing to complete the PV power station in China before the end of June, which was a point set for tariff change. However, the company understood the new policy that the Chinese government issued on May 31 as a brake to domestic demand for PV products, especially in the public utilities sector.
According to data released by the National Energy Administration of China, in the first half of 2018, the public utilities sector of China consumed a total of 12.06GW of PV power, down 30% over the same period last year; while in the meantime, the scale of the distributed PV market reached 12.24GW, up 72%.
According to GCL-SI, during the reporting period, the shipment of its PV modules registered 2.34GW, about half of which were new PV module products such as those featuring MBB or PERC technology, or double-sided or double glass products.