Neo Solar Power (NSP, 3576 TT) announced today revenues on management account for March 2009. Monthly revenues totaled NT$570 million, a 4.4% decrease from the previous month and a 21.0% contraction from March 2008. Accumulated revenues for January to March 2009 were NT$1.732 billion, representing a 10.9% contraction year on year. Affected by cold weather in major solar markets in Europe, solar installation demand remains weak. Furthermore, as the poly-Si costs continue testing bottom, average selling price in March was pressured down from February level and had aversely impacted the revenue performance. Looking into second quarter of 2009, weather is expected to warm up and boost system installation. As the poly-Si producer adjusting production level and surged demand from short orders of the semiconductor industry help to stabilize poly-Si costs, solar market is expected to gradually recover and progress revenue performance.
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