Chinese language PV Alternate Transient: GCL Know-how posts 2023 income dip
Technology tamfitronics GCL Know-how says income and profits fell in 2023 in consequence of losses on particular assets, elevated financing charges, and an uptick in R&D spending. Would per chance well probably 3, 2024 Vincent Shaw and Valerie ThompsonImage: Vincent ShawGCL Know-how Holdings said income fell by 6.2% to CNY 33.70 billion ($4.65 billion) in 2023, from CNY 35.93 billion a one year earlier. Profit attributable to householders reduced 84.3% one year on one year to CNY 2.51 billion. The firm attributed its performance to losses on particular asset holdings, elevated financing and administrative charges, and rising R&D spending, which hit CNY 1.87 billion, up 11.1% from 2022. GCL Know-how said it plans a share buyback and cancellation initiative of up to CNY 680 million in 2024. The firm has 12 GW...