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| HSI1 | 25,311.21 | -18.52 | 216.69B |
| HSCEI1 | 8,450.10 | -12.54 | 66.58B |
| Back Zoom + Zoom - Block Traded | |
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2026-09-02 10:47:36 Citi published a report on GCL TECH (03800.HK), of which net loss for 1H widened 17.2% YoY to RMB2.081 billion, attributable to weak polysilicon prices, FX losses and asset disposal losses. Looking ahead, management indicated that polysilicon prices have shown signs of recovery under anti-involution measures and regulatory supervision. Meanwhile, GCL TECH's lithium iron phosphate business has commenced production and is expected to become the company's main growth driver. Taking into account lower polysilicon prices and higher expenses, partly offset by profit contribution from the lithium iron phosphate business, Citi raised its forecast losses for 2026-2027 and cut the TP from HKD1.3 to HKD1.1. The broker expected earnings from the solar business to gradually recover, while battery materials will provide new growth opportunities. The broker maintained its Buy rating. ~ AASTOCKS Financial News Website: www.aastocks.com | |