NSP Announced 2018 May Revenue of NT$ 966 Million with 17.39% MoM Growth

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, announced May 2018 revenue of NT$ 966 million, representing an MoM increase of 17.39% and a YoY growth of 16.57%.

The increase of NSP’s May revenue was mainly resulted from increased sales order from Europe due to weather has been getting warmer for scheduling the construction of solar system project. The Year-to-Date cumulative revenues reached NT$ 4,304 million as of May 2018, a 23.81% increase in YoY terms as opposed to 3,476 million of year 2017.

The recent joint announcement by China’s National Development and Reform Commission (NDRC), National Energy Agency (NEA) and Ministry of Finance (MOF) that development of new ground-mount solar installations will be contained this year has posed uncertainty to the global PV market in the second half of this year. Since China market in general is more significantly affected by its policy changes and product ASP is also more under pressure, NSP has been adjusted the shipment area for a while and now China market doesn’t account much for company’s revenue. The aforementioned impacts should be comparatively less. However, NSP will stay cautious and watch out further impacts toward other regions due to China policy changes. In the meantime, we will also continue to develop new customers from other markets to mitigate the potential risk.