COMTEC SOLAR: 2012 Shipments Surge 153%: "“During the year, worldwide excess capacity and industry consolidation continued, driving down selling prices across the value chain. These challenging commercial conditions adversely affected the operating results of every solar company."
"Despite the market challenges, we still achieved year-on-year shipment growth, shifted focus to our premium ‘Super Mono Wafer’ products, achieved reasonable profit margins, generated cash inflow from operating activities and maintained a healthy financial position,” said Comtec Solar Chairman and CEO John Zhang.
Speaking at a results briefing for investors at the office of Aries Consulting in Hong Kong, Mr. Zhang added that the Shanghai-based solar products firm was set to turn things around given its strong market position in a very competitive industry.
“We are not the only wafer and ingot maker, but we do enjoy technological advantages in the market and high-quality production that act as formidable entry barriers to would-be competitors.”
Comtec was gaining in efficiency in terms of its capacity utilization, as annualized production capacity last year stood at 600MW while overall shipments surged nearly 153% to 561.7MW.
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