GCL System suffers 30.5% revenue decline in Q3
GSL System Integrated Technology, a member of the Silicon Module Super League, has seen a 30.5% decline in revenue in the third quarter of 2016. The drop is largely due to the significant slowing down of downstream photovoltaic project construction in China since the end of June, with an average selling price decrease corresponding with overcapacity. The company reported a third quarter revenue of approximately $390m, significantly less than the $561m reported in the previous quarter.

‘Silicon Module Super League’ (SMSL) member GCL System Integrated Technology (GCL-SI) has reported a 30.5% decline in third quarter 2016 revenue, primarily due to a major slowdown in downstream PV project construction in China since the end of June and average selling price decline as overcapacity took hold in the quarter.

GCL-SI reported unaudited third quarter revenue of around US$390 million, compared to around US$561 million in the previous quarter, a 30.5% quarter-on-quarter reduction.

However, revenue for the first nine months of 2016 reached US$1.38 billion, up around 63.6% from the prior year period.

The company is also establishing a new research and development and downstream integration and distribution technology base in Fengxian, Shanghai.

GCL-SI also said it would accelerate R&D activities in heterojunction solar cell technology and next-generation module assembly automation migration.