2023-11-28 16:48:43
Suzhou, China (ots/PRNewswire) – SUZHOU, China, 28. November 2023 /PRNewswire/– On November 23, GCL System Integration Technology Co., Ltd. announced (“GCL SI” or “the Company”) announces that its application to issue shares for specific purposes has been approved by the Listing Review Center of the Shenzhen Stock Exchange. The private placement was approved at the November 22 meeting and the shares will be listed on the main segment of the Shenzhen Stock Exchange.
GCL SI plans to issue a maximum of 1,755,094,928 shares to certain investors, representing 30% of the company’s total share capital, with the aim of raising up to RMB 4.842 billion through this offering. After deducting the issuance fees, the net proceeds of RMB 3.4 billion will be allocated to support the 20GW high-efficiency solar cell project (10GW in the second phase) in Wuhu, Anhui Province, as well as to increase the company’s liquidity.
The 20GW Wuhu high-efficiency solar cell project was established in October 2022 with a total investment of RMB 8 billion. The project is divided into two construction phases. The first phase began in February this year with a production capacity of 10 GW. On October 23, the company confirmed that the first phase had reached full production capacity.
As GCL SI aims to complete its 12GW project in Funing, Jiangsu Province, and 7.5GW in the first stage of the second phase at its Hefei facility by the end of 2023, the company’s module capacity is expected to exceed 30GW.
In the first three quarters, GCL SI recorded operating income of RMB 9.412 billion, an increase of 97.43% year-on-year. The listed company’s net profit attributable to shareholders was RMB 142 million, increasing by 240.78% year-on-year.
In the third quarter, GCL SI achieved operating revenue of RMB 3.806 billion, an increase of 93.40% year-on-year. Net profit attributable to shareholders of the listed company was RMB 31 million, an increase of 122.30% year-on-year. At the end of the third quarter, the company’s net operating cash flow was RMB 915 million, an increase of 1,597.92 percent compared to the same period last year.
GCL SI is a BNEF Tier 1 module supplier and aims to become the world’s leading one-stop provider of renewable energy solutions. With the launch of the private placement, GCL SI will further develop an integrated and leading business model that offers a package of research and development, product and service.
Questions & Contact:
weisiyi@gclsi.com
1701190786
#GCL #receives #approval #RMB #billion #private #placement #Shenzhen #Stock #Exchange
