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Comtec Solar

Covid-19 weekly briefing: Merchant solar developers could seek shelter in return to subsidies and PPAs are being revisited, but at least the Irish are coping with lockdown measures

The unfolding effects of the Covid-19 crisis, and fears of a possible second wave, have split analysts trying to guess how the unsubsidized renewables market will emerge as slumping demand continued to distort power markets. pv magazine rounds up the week’s coronavirus developments.

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Comtec Solar insists it remains viable following dismal 2019

The Chinese solar manufacturer has finally addressed lingering uncertainty about its future with the release of the audited version of its 2019 financial results.

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Chinese investor buys 14% stake in Comtec Solar

Sun Da has moved to become the lithium energy storage and electric vehicle battery company’s second largest investor, raising HK$10.3 million for the business in the process.

Singyes threatens to pursue winding up costs against Deutsche Bank

The heavily-indebted Chinese BIPV manufacturer has warned the petition issued by the German lender to recover a disputed $6.27 million debt could threaten the survival of the business as it would halt a planned bail-out by Beijing.

Comtec Solar investors burned by falling stock price

Two subscribers who signed up to a 20% discounted shares subscription in mid June ended up yesterday paying almost the same percentage as a premium on the trading price of the stock.

Deutsche Bank attempts to wind up Singyes Solar

The German lender has issued a winding up petition over a $6.27 million debt and could scupper the manufacturer’s plans to restructure its defaulted payments and be taken over by a Chinese state-backed entity.

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Comtec forced into shares consolidation

A falling share price has put the Chinese developer at risk of breaching requirements to maintain its Hong Kong listing. Shareholders are set to vote on consolidating their stock next month.

Comtec sells slice of EV unit to online gaming company The9

The Nasdaq-listed game developer will offer shares in return for a 9.9% stake in the Chinese mono solar manufacturer’s Kexin electric vehicle and storage business.

Comtec signals H1 turnaround, moves on downstream deals

Comtec Solar Systems will likely record a net profit of roughly CNY 8.8 million ($1.3 million) in the first half of this year, marking a sharp turnaround from the CNY 6.4 million net loss it posted in the first six months of 2016.

Comtec Solar forecasts 2016 loss, signs development deal

The Shanghai-based integrated solar specialist said it expects to record a “substantial” net loss for the year to the end of December.

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