Solar panel firm posts HK$4b profit

China's largest producer of solar panel raw materials polysilicon and solar wafers, posted a net profit of HK$4.02 billion for last year, compared to a loss of HK$199.7 million in 2009. GCL-Poly Energy Holdings' sales jumped 273.7 per cent to HK$18.47 billion. The company's gross profit margin rose to 36.9 per cent from 30.2 per cent due mainly to cost reduction. It plans to substantially raise production this year.