GCL-Poly Energy Holdings (HK:3800) has released an update.
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GCL Technology Holdings has announced an update on their Share Buy-back and Cancellation plan, revealing that due to volatile market conditions, only HK$ 24 million has been spent on buy-backs so far, significantly less than the targeted RMB680 million for 2024. The company cites excessive competition in the photovoltaic industry and plans to halt further buy-backs this year to maintain operational stability. However, the board remains committed to pursuing the plan over the next three years, subject to market conditions and board approval.
For further insights into HK:3800 stock, check out TipRanks’ Stock Analysis page.
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