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comtec solar systems group (712) Details

Comtec Solar Systems Group Limited, an investment holding company, designs, develops, manufactures, and markets semiconductors, and solar wafers and ingots in the People’s Republic of China and Malaysia. The company offers solar grade products, such as pseudo square bricks, diamond wagers, slurry wafers, and polysilicon products. It also provides processing services for the solar products. The company was founded in 1999 and is headquartered in Shanghai, the People’s Republic of China. Comtec Solar Systems Group Limited is a subsidiary of Fonty Holdings Limited.

1,019 Employees
Last Reported Date: 09/27/16
Founded in 1999

comtec solar systems group (712) Top Compensated Officers

Chairman, Chief Executive Officer, Chairman o...
Total Annual Compensation: CNY600.0K
Group Chief Financial Officer, Company Secret...
Total Annual Compensation: CNY1.9M
Compensation as of Fiscal Year 2015.
comtec solar systems group
Comtec Solar Systems Group Limited Provides Earnings Guidance for the Year Ended December 31, 2016

Comtec Solar Systems Group Limited provided earnings guidance for the year ended December 31, 2016. The board of directors of the company announced that, according to the assessment of he company's management based on the information currently available, it is expected that he Group will record a substantial net loss for the year ended 31 December 2016, although he magnitude of such loss is yet to be quantified. Based on the information currently available, the anticipated net loss would be primarily attributable to the following factors: a potential write-down of the assets related to the manufacturing facilities of the Group in Malaysia, which are proposed to be disposed of to an independent third party at a discount to their net book value as disclosed in the announcement of the Company dated 3 January 2017; a potential write-down of the assets related to the manufacturing facilities of the Group in the People's Republic of China; and a potential write-down of the Group's inventory.

Comtec Solar Systems Group Limited and Beijing Enterprises Clean Energy Group Limited Enter into a Strategic Cooperation Framework Agreement

The board of directors of Comtec Solar Systems Group Limited (the company, together with its subsidiaries, the Group) has announced that on 19 December 2016, the company and Beijing Enterprises Clean Energy Group Limited entered into a strategic cooperation framework agreement in relation to the photovoltaic power stations (the Framework Agreement'), pursuant to which the company and Beijing Enterprises Clean Energy agreed to strengthen the overall strategic cooperation in relation to the development, construction and project acquisition of solar photovoltaic power stations. Pursuant to the terms of the Framework Agreement, the company can, under the engagement by Beijing Enterprises Clean Energy, assist Beijing Enterprises Clean Energy to develop photovoltaic power generation projects at places determined by Beijing Enterprises Clean Energy and accordingly Beijing Enterprises Clean Energy can pay relevant project development fees to the Company at fair-market price. The provision of services and sale of products under the Framework Agreement, if contemplated, shall be in the ordinary and usual course of business of the Group. In addition, the Company can also sell certain photovoltaic power stations (including roof distributed photovoltaic power stations) to be constructed by the Company in the future to Beijing Enterprises Clean Energy at fair-market price on a priority basis if these projects meet the requirements of Beijing Enterprises Clean Energy. It is agreed that Beijing Enterprises Clean Energy is entitled to purchase, subject to entering into definitive cooperation agreement(s), certain photovoltaic power stations from the company in the next three years with a total scale of not less than 500 megawatts. Under the Framework Agreement, the company can leverage on its resources in the production plants in Southeast Asia to further develop and exploit the photovoltaic power stations market in Southeast Asia with Beijing Enterprises Clean Energy as its strategic partner, and Beijing Enterprises Clean Energy can share its advanced experience and know-how in construction and project operation and management of ground-mounted distributed solar power stations with the company.

Comtec Solar Systems Group Limited, Special/Extraordinary Shareholders Meeting, Dec 29, 2016

Comtec Solar Systems Group Limited, Special/Extraordinary Shareholders Meeting, Dec 29, 2016, at 10:00 China Standard Time. Location: 5/F, BOC Group Life Assurance Tower 136 Des Voeux Road Central Hong Kong Agenda: To consider the sale and purchase agreement entered into between the company, Forum (Asia) Limited, the Vendors and the Ultimate Holders dated 14 November 2016, pursuant to which the company has conditionally agreed to acquire 51% of the total entire share capital of Forum (Asia) at a total maximum consideration of RMB 52.02 million; to consider the resolution that directors be and are hereby granted a specific mandate to exercise the powers of the company to allot and issue up to 166,479,449 Consideration Shares to the Vendors; and to consider the resolution that any one Director be and is hereby authorized to do all such things and acts as he may in his discretion consider as necessary, appropriate, expedient or desirable for the purpose of or in connection with the implementation of the Sale and Purchase Agreement.

 

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