NSP Revenue for August Reached NT$1,871 million

Neo Solar Power Corporation (3576 TT) (“NSP”, or “the Company”), a world-class leading producer of high quality solar cells in Hsinchu, Taiwan, today announced that August revenue reached NT$ 1,871 million, with a MoM growth rate of -8.83%. Year-to-Date cumulative revenues reached NT$ 18,587 million as of August 2014, a +72.37% jump in YoY terms as compared with NT$10,783 million last year.

The decrease of NSP’s August revenue was due to the US DOC’s Preliminary Anti-Dumping Duty decision against Taiwan which caused market ASP to decline and NSP took customers’ orders selectively thus decrease the shipment volume.

Look into the future, the US DOC has lowered the Anti-Dumping Duty rate of Taiwanese solar companies in late August, and NSP’s tax rate has been lowered as well. Therefore under the same price scheme but with better quality, the order visibility of NSP products has been increased. Considering the peak sales season for Europe and Japan markets will begin, and the National Energy Administration of China also announced the policy details to encourage distributed generation solar projects, the domestic demand in China for Q4 will be enormous. Although market price may not be able to rebound immediately, the shipment is expected to up gradually. As a whole, the market outlook is not pessimistic.

NSP will continue to diversify orders to different regions and develop new customers. In the meantime, NSP will also keep evaluating the feasibility of building up manufacturing sites overseas to respond to any possible industry change and maintain NSP’s long-term competitiveness.