The Chinese wafer manufacturer, Comtec Solar has issued a profit warning to inform shareholders and potential investors that the company expects to record a gross profit decrease for the six months leading to June 30, 2015. T
he decrease in gross profit margin is from approximately 8.3% in the first half of 2014 to 2.5% for the six months that ended June 30, 2015.
The net loss is expected to be around RMB204 million (US$31.98 million) for the first half of this year compared to a net profit of RMB3 million ($470,300) made for the corresponding six months in 2014.
Comtec Solar has attributed the net loss mainly to the impairment losses with respect to advance to suppliers amounting to RMB121.2 million ($19 million), the share-based payment expenses related to options granted during the first six months of 2015 amounting to RMB38.6 million ($6.05 million), and the expenses incurred by its subsidiary in Malaysia amounting to RMB32 million ($5.02 million).
In July 2014, Comtec Solar set about to expand its wafer production capabilities in Kuching, Malaysia to maintain a viable supply line to the U.S. market.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.