Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading manufacturer of high quality solar cells and modules in Hsinchu, Taiwan, today announced its 2017 Q3 Net Loss was NT$1,715 million. According to 2017 first three quarter financial results, the company delivered NT$6,849 million in consolidated Net Revenues and NT$3,551 million in Consolidated Net Loss while the underlying EPS closed at NT$ -3.51.
According to NSP 2017 Q3 consolidated financial report, the company delivered NT$2,468 million in Net Revenues, which was increased by 11% as compared to second quarter. The actual business loss was narrowed a lot in third quarter as compared to last quarter. In spite of that, the Realized Gross Loss was NT$896 million due to recognize related losses of long-term supply contract. Operating Expenses for 2017 Q3 reached to 403 million, which was decreased by 13% under well control as compared to that in 2017 Q2 and Operating Loss was NT$1,394 million. To be cautious and conservative, NSP also reserved lawsuit related costs under Non-Operating Expenses in third quarter, which led to Net Loss of NT$1,715 million with underlying EPS of NT$-1.67.
For financial structure, NSP will continue to enhance cash position. The consolidated cash and cash equivalents on hand as of the end of 2017 third quarter was NT$7,019 million. In principle, the Company’s overall financial operations will be conservative as usual.
Looking forward to the fourth quarter, NSP will continually expedite the construction, operation and sale for solar system projects to improve overall performance of NSP Group. In the meantime, the pre-merger preparation between NSP, Gintech and Solartech will continue to proceed per scheduled.
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