PVTIME – On January 23, 2024, Qingdao Gaoce Technology Co., Ltd. (Gaoce, 688556.SH), a company specialising in the research and development, production and sale of cutting equipment for hard and brittle materials and cutting tools, has released its earnings forecast for 2023.
It is estimated that Gaoce will achieve net profit attributable to parent company of 1.44 billion to 1.48 billion yuan, representing an increase of 82.60% to 87.67%. Meanwhile, its net profit after deductions is expected to be 1.40 billion to 1.46 billion yuan, an increase of 86.61% to 94.61%.
Gaoce stated that the increase in its performance was mainly due to the significant increase in its photovoltaic equipment orders in 2023. And its production capacity and shipments of diamond wire increase dramatically with full production and full sales. In addition, the production capacity of its wafer cutting and processing services business also increases in 2023, resulting in a significant increase in shipments.
Meanwhile, in 2023, Gaoce’s sales of equipment and consumables for semiconductors, sapphire, magnetic materials and silicon carbide and other innovative materials grew steadily, which also led to the increase in performance.
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