NSP Reports 2014 Unaudited Financial Results with Net Profit of NT$ 243 Million and EPS of NT$0.28

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 its 2014 unaudited financial report. Consolidated revenue for 2014 full year was totaled of NT$27,580 million, Net Profit for 2014 was NT$243 Million, and EPS closed at NT$ 0.28.

According to NSP’s 2014 unaudited financial report, the company delivered NT$27,580 million in Net Revenues. Realized Gross Profit was NT$1,786 million with Gross Margin of 6.48%. Under well control, Operating Expenses was NT$1,577 million with Operating Expense Ratio of 5.72%. Operating Profit was NT$276 million. Net Profit in 2014 was NT$243 million while the underlying EPS closed at NT$ 0.28. Given the Anti-Dumping & Anti-Countervailing trade dispute between the United States, China and Taiwan, the ASP for solar cell in 2014 Q4 is relatively weak. However, NSP Group still enjoys the Profit for 2014 full year by the contribution return of investing in solar system business. This shows that NSP Group’s strategy of going downstream solar system is a right decision.

The company has completed the capital increase by issuing 65 million new common shares in last November and successfully raised NT$1,723 million through the issuance. Therefore the company is with abundant cash. Cash on hand as of 2014 year-end was NT$8,722 million, and Debt to Asset ratio was relatively low at 42% with Net Cash. As a whole, the Company is with solid financial structure.

Technology and the quality is the core competence of NSP. By means of its strong semiconductor industry experience and vast solar device physics expertise, NSP will enhance cost & quality control, raise operation efficiency, and continuously devotes to technology research which will maintain NSP’s leadership in solar cell technology and industry.