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Ginlong Expects H1 Profit to Drop Up to 24%

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Ginlong Technologies (SHE:300763) forecasted that its net profit attributable to shareholders in the first half would drop by between 32% and 24% year on year to a range of 410 million yuan to 460 million yuan, according to a Shenzhen bourse filing on Wednesday.

The attributable profit a year earlier was 602.2 million yuan.

The drop was attributed to seasonal fluctuations in the company's new energy power generation and residential photovoltaic power generation system due to weather changes.

The Chinese PV string inverter specialist's shares fell 7% at the close.

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