China-based solar-grade monocrystalline silicon wafer maker Comtec Solar Systems has revealed it started trial production at its factory in Malaysia in June 2014 and will expand the factory's annual production capacity from 300MWp currently to 600MWp in 2015.
Comtec said it set up the Malaysia factory as China-based PV makers often face anti-dumping and anti-subsidization taxes in main overseas markets. Power and labor costs in China have been rising, and major clients, US-based SunPower and Japan-based Panasonic, have also established factories in Malaysia, the company said.
With planned total investment of CNY400 million (US$64.5 million), the annual production capacity at the Malaysia factory will be expanded to 1.0GWp eventually and then Comtec will transform its exiting factory in Shanghai, eastern China, as its R&D and marketing center.
Comtec shipped 190.1MWp of solar-grade monocrystalline silicon wafers in first-half 2014, growing 5.8% on year. Solar cells made from its Super Mono wafers can reach energy conversion rates of over 25%, Comtec indicated.
Comtec posted revenues of CNY520.45 million, gross margin of 8.35% and net profit of CNY2.99 million for first-half 2014.