GCL-Poly chairman refutes rumor about month suspension Nuying Huang,Taipei;Jackie Chang,DIGITIMES[Monday 17 September 2012]Zhu Gong Shan,executive director,chairman and CEO of China-based solar firm GCL-Poly,has refuted rumors of shutting down company operations for a month starting on September 20.According to Zhu,a 15-day break will be taken to accommodate China's October 1 holidays.Zhu added that current capacity utilization rate of GCL-Poly is 80%.
GCL-Poly has been outperforming peers such as LDK and Suntech in profitability.However,the firm began to see net losses in the second quarter,which eroded the profits obtained in the first quarter.GCL-Poly reported a net loss for first-half 2012 of CNY330 million(US$52 million).
The firm has been seeing increasing competition from small-and medium-size solar wafer firms which have been using extremely low prices to attract GCL-Poly's customers.Also,despite China's anti-dumping investigation against US and South Korea-based polysilicon firms,imported solar material has been highly competitive in quality and price.
