Comtec Solar slightly reduces losses in 2013
Post date: 01/04/2014 - 01:00
Chinese monocrystalline wafer manufacturer Comtec Solar Systems Group Ltd. has been able to slightly reduce its losses in 2013 despite a revenue decrease. Turnover for 2013 was 937.5 million CNY ($150.0 million), down 8.6% from 1,025.6 million CNY in the prior year. Total wafer shipments for the year reached 396.9 MW, a 17.3% increase from 338.4 MW in 2012. Net loss for 2013 was of 133.1 million CNY, slightly up from 165.1 million CNY in 2012. The company ended December 2013 with 334.5 million CNY in available liquidity.
Furthermore, the company said it is currently building a 300 MW monocrystalline wafer manufacturing facility in Malaysia and that it will ramp up capacity in the first half of this year.