NSP Announced October Revenue of NT$2,410 million with 27.29% MoM Growth and Set New Annual High Record for 2015

Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading producer of high quality solar cells in Hsinchu, Taiwan, today announced October 2015 revenue of NT$2,410 million with a MoM rate of 27.29% and set new annual high record for 2015.

The increase of NSP’s October revenue mainly resulted from strong market demand, increased shipment volume, continuous growth of Average Selling Price (“ASP”) and revenue contribution from selling solar farms owned by subsidiary, General Energy Solutions Inc. (6466)(“GES”). Under newly added 5.3GW installation capacity target in fourth quarter, despite China lowered 2016 FiT price, the cut still less than expected recently. In addition, many market research agencies estimated that China「13th Five-Year-Plan」will raise the original solar system installation target from 100GW to 150GW. The United States, Japan and emerging markets are also promoting solar power aggressively, which led to increased global demand. Hence the industry expects demand for the fourth quarter and early next year should still be strong. The outlook is optimistic.

Besides, China National Energy Administration earlier launched so-called “Top Runner” program to encourage using high-efficiency product for solar system installation. This has increased market demand for high-efficiency products, and helped to eliminate low-efficiency capacity, which is positive for long-term development for the whole industry.