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GCL TECH Last Craters 4% after Profit Warning
Recommend 14 Positive 33 Negative 18 |
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GCL TECH (03800.HK) opened down faintly by 0.58% today (28th), bottoming at $1.62. It last printed at $1.64, down 4.09%, on volume of 405 million shares and turnover of $681 million. Last Friday (25th), rumor had it that the Chinese government would introduce a policy to restrict energy consumption next month, and correspondingly the company's stock price shot up by nearly 20%. However, the company subsequently issued a profit warning, estimating a loss of RMB2.971 billion compared to a profit of RMB2.51 billion last year. The loss was mainly due to the significant decrease in average selling price of polysilicon and wafer products. AAStocks Financial News |
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