GCL-Poly turns a first-half profit

The Chinese group’s revenue rose by half to HK$17.2bn ($2.22bn) in the six months to June from HK$11.3bn in the 2013 first half.

Gross profit soared by 400% to HK$3.68bn, and GCL-Poly turned an HK$917m year-ago net loss into a HK$900m profit.

GCL-Poly – the world’s largest supplier of polysilicon – was helped by a 9.2% cut in production costs and a rise in selling prices for the key solar raw material.

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