Summary by Futu AI
GCL TECHNOLOGY HOLDINGS LIMITED (GCL TECH) ANNOUNCED ITS FINANCIAL RESULTS FOR 2023. The report showed that the company had a full-year revenue of RMB337 billion and gross profit of RMB116.92 billion. Profit before tax amounted to RMB43.2 million, net profit from continuing operations was RMB33.27 billion after tax expenses. Total comprehensive income for the year was RMB22.87 million, of which RMB14.70 billion attributable to the Company's shareholders and RMB8,117 million to non-controlling interests. Basic and diluted earnings per share were RMB9.47. NO FINAL DIVIDEND DISTRIBUTION HAS BEEN PROPOSED FOR 2023. In that year, the company repurchased and subsequently wrote off a total of 1.385 million shares. AUDIT HIGHLIGHTS INCLUDE FAIR VALUE MEASUREMENTS OF SUSTAINABLE SECURITIES AS EQUITY INSTRUMENTS THAT MEASURE FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME. The company's major changes include the exit from the high-cost Siemens rod manufacturing sector and shifting production capacity to highly profitable silicon granules. Asset impairment losses of approximately RMB11.28 billion were recognized due to the Silicon business.
