Solar cell maker Motech Industries has released its financial report for the third quarter of 2015, with business operations swinging from the red into profitability.
Motech recorded consolidated revenues of NT$7.098 billion (US$216 million), gross margin of 7.27%, net operating profit of NT$134 million, net profit of NT$45 million and net EPS of NT$0.09 for the third quarter.
For January-September, the company posted consolidated revenues of NT$16.424 billion, gross margin of 2.95%, net operating loss of NT$592 million, net loss of NT$991 million and net loss per share of NT$2.23.
Motech's board of directors decided to invest US$33 million to set up a PV module subsidiary in Maanshan City, central China. The subsidiary will have an annual production capacity of 200-300MWp in 2016, Motech said.