GCL Technology Holdings Revenue fell 6.2% to CNY33.70 billion ($4.65 billion) in 2023, from CNY35.93 billion a year earlier. Profit attributable to owners fell 84.3% year-on-year to CNY 2.51 billion. The company attributed its performance to losses on certain assets, higher financing and administrative costs and rising R&D expenses, which reached CNY 1.87 billion, up 11.1% from 2022. GCL Technology said it had a initiative for the buyback and cancellation of plant shares worth up to CNY. 680 million by 2024. The company has a capacity of 12 GW of ingots and 58.5 GW of wafers and is working on perovskite tandem technology, with reported efficiencies of 19.04% for a single-junction module and 26.34% for a tandem module.
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