New Solar Power (NSP, 3576 TT) announced today revenue for January 2008 was NT$560 million, representing 21% growth from the previous month and an exceptional 110 times increase year on year. NSP commenced mass production of its second line in December 2007 and has successfully advanced production ramp up schedule to reach 100% utilization. We begin equipment move in for 3rd line and expect to launch commercial production in March to provoke sound revenue performance.
Construction of FAB 2 has progressed on schedule. Foundation of FAB 2 has completed and construction team is gearing toward concluding structure work. NSP aims to complete facility construction and charge for equipment installation stage of the 4th to 7th production lines around mid-year. From August 2008, we expect to step-by-step ramp-up the new 120MW capacity that is expected to boost another round of revenue growth. With 100% wafer supply secured, profits performance should be in tandem with outstanding revenue advancement.
Outlook of photovoltaic industry remains optimistic. To capitalize on the rising market, NSP dedicates on process and material research. In addition to in-house technology development, we join efforts with renowned academic gurus and leading industrial practitioners on progressing solar cell efficiency. NSP aims to differentiate itself from competition by providing high quality solar cell products, sophisticate customer technical supports, and cutting edge research and development capability. NSP will focus on building up brand reputation and improving efficiency. Coping with research and development milestone, NSP will attentively expand capacity to meet vigorous customer demand. We plan to increase annual capacity to 210MW in 2008 and further add 300MW to increase capacity to 510MW in 2009.
About Neo Solar Power Corporation (3576 TT) (NSP)
Founded in 2005 by Dr. Quincy Lin (former Senior VP of TSMC) and Dr. Sam Hong (former Director of ITRI Research Division), Neo Solar Power Corporation (NSP) is a leading manufacturer of high performance and high quality solar cells and modules. With core competitive advantages in quality, technology and customer service, NSP became the world’s largest merchant solar cell manufacturer by volume in 2013. After selling DelSolar to NSP, Delta Electronics (2308, TT) became the biggest shareholder of NSP with a 19% holding. Leveraging current leading position in solar cell technology, NSP will further expand into the global solar systems businesses, aiming to become the leading solar system integrator in the world. For more information, please visit the company’s website at www.nsp.com
For further information, please contact:
Meg Tsai, Deputy Department Manager of Investor Relations & Shareholders’ Services Tel: 886-3-578-0011#20601