comtec solar systems group

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High-efficiency monocrystalline wafer producer Comtec Solar Systems Group reported a net loss of US$146 million in 2016, after previously announced write-down on assets at its Malaysian manufacturing facilities that were being sold leading mono wafer supplier, LONGi Green Energy Technology.

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.

Monocrystalline wafer producer Comtec Solar Systems Group has said in financial filings that it would report a substantial net loss for the year, due to expected write-down of the assets related to its manufacturing facilities in Malaysia and China.

Monocrystalline wafer producer Comtec Solar Systems Group said it planned to sell its Malaysian facility and some of the installed production equipment to leading integrated monocrystalline ingot to module producer, Longi Silicon Materials.

Monocrystalline wafer producer Comtec Solar Systems Group has reported first half 2016 financial results that were impacted by a decline in average selling prices (ASP) and lower volume shipments, due to production upgrades and training at its facility in Malaysia.