Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading integrated PV solution provider with expertise in high conversion efficiency products and global solar system development capabilities in Hsinchu, Taiwan, today announced the adjustment and new appointment of finance leadership; transferred NSP Senior Vice President & CFO, Mr. Thomas Hsu to solar IPP (“Independent Power Producer”) company, Clean Focus Yield (“CFY”) as CFO while also serving as special assistant to NSP Chairman & CEO, and named Mr. Michael Kung as NSP Vice President & CFO.
The position adjustment was in view of company’s long-term development and current business development of solar system projects. NSP has completed the first phase investment of USD 44 million in CFY in early November, 2016. CFY will further raise funds for around USD 100 million from other investors to acquire around 300MW solar system projects, and plan for public listing on Hong Kong Stock Exchange, which not only NSP can leverage CFY’s funds from global capital markets to expand global solar system project businesses, but also increase sales pipelines for solar cells and modules; to bring continuous growth momentum for NSP Group.
Mr. Michael Kung holds MBA degree from University of Massachusetts and has over 20 years of experience in banking and industries. Before joining NSP, he has worked for Chase Manhattan Bank (currently known as JP Morgan Chase Bank), Citibank, Crédit Agricole Corporate and Investment Bank and Taiwan Semiconductor Manufacturing Company (TSMC). He has also once served as CFO of Tatung Company and TSRC Corporation. It is believed that under the leadership of Mr. Kung, NSP’s financial team will deliver great and better performances.
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:
Ms. Shirley Chen
Investor Relations Dept.
Phone: +886-3-578-0011 ext. 20626 Email: firstname.lastname@example.org