N-type monocrystalline wafer producer, Comtec Solar Systems Group, has reported a steep decline in revenue for the third quarter of 2014.
Comtec reported third quarter revenue of RMB158.9 million (US$ 25.89 million), compared to US$46.28 million in the previous quarter.
The company reported an unaudited consolidated gross profit of RMB11,781,000 (US$19.19 million) and a net loss of RMB5,291,000 (US$8.6 million).
Comtec said it had applied diamond wire saws to its slicing process, which further improve the manufacturing efficiency of its China facilities, and planned to use diamond wire saws at its production facility in Malaysia.
The company did not say why there was a significant revenue reduction in the third quarter.