Core Insights - GCL-Poly Energy reported a dual growth in revenue and profit for Q3 2025, with total revenue reaching 7.935 billion yuan, a 5.07% increase year-on-year, and net profit attributable to shareholders at 762 million yuan, a 25.78% increase year-on-year [1] - The growth is primarily driven by the development of distributed photovoltaic and other renewable energy projects, alongside the expansion of energy service businesses such as electricity sales and virtual power plants [1][2] Financial Performance - For the first nine months of 2025, GCL-Poly achieved a net profit of 762 million yuan, with a non-recurring net profit of 677 million yuan, reflecting increases of 25.78% and 46.39% respectively compared to the previous year [1] - In Q3 alone, the net profit attributable to shareholders was 243 million yuan, a 24.43% increase year-on-year, while the non-recurring net profit was 213 million yuan, up 14.37% year-on-year [1] Operational Highlights - As of September 30, 2025, GCL-Poly's total installed capacity reached 6,402.41 MW, with renewable energy accounting for 60.08% of this capacity, indicating significant progress in green energy asset deployment [1] - The company has focused on energy-saving services and trading services, achieving a scale breakthrough in these areas [2] - The installed capacity of distributed photovoltaic projects reached 1,910.54 MW by September 30, 2025 [2] Energy Services Expansion - GCL-Poly managed a total electricity sales volume of approximately 24.123 billion kWh and green electricity trading of 786 million kWh during the first nine months of 2025 [2] - The virtual power plant business has expanded across multiple provinces, with a controllable load capacity of 835 MW, and approximately 35% of this capacity is utilized in the auxiliary service market in Jiangsu [2]