Comtec more than doubles expected losses for 2016

Facebook
Twitter
LinkedIn
Reddit
Email
The company said that the write-down of assets at its Malaysian manufacturing facilities would be approximately RMB339.3 million (US$49.2 million) as the company would be disposing of equipment at a loss.

Monocrystalline wafer producer Comtec Solar Systems Group has more than doubled expected losses for 2016, due to further write-downs on its Malaysia manufacturing facility with the pending sale of the facility to leading mono wafer supplier, LONGi Green Energy Technology.

Comtec had previously said that it had expected a net loss of approximately RMB434.7 million (US$63.07 million) in 2016. Updated information in a financial filing indicates the company expects losses to be over RMB1,000.0 million (US$145.09 million) in 2016, while these figures remain preliminary, according to the company.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company said that the write-down of assets at its Malaysian manufacturing facilities would be approximately RMB339.3 million (US$49.2 million) as the company would be disposing of equipment at a loss.

A write-down of approximately RMB276.5 million (US$40.1 million) of the assets related to manufacturing facilities in China as it downsizes its mono wafer production as it shifts to a downstream business model.

However, market dynamics are also at play, due to falling ASPs. Comtec said it would take a charge of RMB152.6 million (US$22.1 million) on inventory write downs and RMB94.5 million (US$13.7 million) due to the decrease in the market prices of solar wafers and polysilicon.

Comtec cited that its upstream business deterioration in the second half of 2016 was due to weak demand and customers scaling back production of solar cells as overcapacity forced overall price declines. The company has yet to report full-year 2016 financial results.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

September 18, 2025
Researchers have called for enhanced international standards to detect ultraviolet-induced degradation (UVID) in PV modules after identifying “severe” levels of the problem in operational n-type panels.             
September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.
September 11, 2025
US cell manufacturer ES Foundry is proceeding with expansion plans despite a six-month delay due to recent trade and tax credit policy uncertainties.
Premium
September 11, 2025
PV CellTech USA: US cell manufacturer ES Foundry’s CEO Alex Zhu discusses his company's rapid ascent, strategic technology choices and the challenges of operating in a shifting policy environment.
September 5, 2025
Scientists from Germany and Saudi Arabia have discovered that perovskite thin-film cells are compatible with current industry standard silicon solar cells, which they claim is a “crucial step toward the industrialisation of perovskite silicon tandem solar cells”.
September 2, 2025
The Fraunhofer Institute for Solar Energy Systems (ISE) will build a pilot solar cell line in Germany to support US manufacturer Talon PV’s efforts to establish solar cell capacity in the US.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA