Chinese Manufacturer GCL expects a First-Half Loss of at least RMB 1.5 Billion

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The GCL-Poly Energy Holdings solar project business of fellow polysilicon manufacturer GCL on Friday warned shareholders it expects a first-half loss of at least RMB1.5 billion, after a RMB751 million loss in the same period of last year. The doubling of losses has been put down to the impairment of assets, a solar project sell-off, lower wafer sales and a weaker renminbi against the U.S. dollar. The company expects to publish its unaudited six-month figures on Friday.