NSP Announced 2017 April Revenue of NT$ 485 million

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 April 2017 revenue of NT$ 485 million, representing a MoM decrease of 26.72%.

The decrease of NSP’s April revenue was mainly due to gradually decreased non-profitable multicrystalline production output deriving from company transformation. Year-to-Date cumulative revenues reached NT$ 2,647 million as of April 30th, 2017, a -64.48% decrease in YoY terms as opposed to 7,453 million of year 2016.

NSP’s high efficiency solar module is well recognized in the solar industry and wins “Taiwan Excellent PV Award” from Taiwan’s Bureau of Energy for four consecutive years. NSP now has also obtained VPC (voluntary product certification) certificate for its whole series of high-efficiency monocrystalline solar modules from Taiwan Bureau of Standards, Metrology and Inspection. By virtue of the VPC, solar system projects for which such solar modules are adopted are entitled for a 6% markup in feed-in tariff rate. Not only can this increase the electricity generating efficiency, but also can enhance the investment profit for solar system projects owners. With the newly added 200 MW Taiwan solar module capacity and the expansion of global solar system project construction, the overall transformation benefit for NSP group from business transformation is expected to emerge in the fourth quarter this year.